Underwriting
Insurers Must Physically Inspect to Confirm Damage Cited by Aerial Imagery
The Pennsylvania Insurance Department (PID) is reminding insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by ...
Progressive Set to ‘Maximize’ Growth, Building on Q1
When Progressive's chief executive officer weighed the words that should go into the management discussion section of the company's first-quarter 10-Q report, she considered two possibilities to ...
Allstate Will Insure California Homes Again, Under One Condition
Allstate Corp. will end its years-long pause on underwriting in California as soon as the state regulator adopts proposed regulatory changes to make it easier for insurers to raise rates, according ...
Possibility of a Billion-Dollar Systemic Cyber Event ‘Is Real’
A systemic event and the threat it could pose to insurers' portfolios is not the million-dollar question but perhaps the billion-dollar question, according to Norman Niami, immediate past chairperson ...
Many Businesses May Not Be Protected Against Losses From Snow Melt Floods
Catastrophic flooding is a major problem in the US, where it kills more people every year than tornadoes, hurricanes or lightning combined.
Ahem. Results for the U.S. P/C Industry Improved ‘Slightly’ in 2023
A new report from AM Best reveals that the U.S. property/casualty industry recorded a $21.2 billion net underwriting loss in 2023, slightly improved from a $24.9 billion underwriting loss recorded in ...
Ready or Not, 80% of P/C Insurers Aim to Use AI for Biz Decisions This Year
Two-thirds of property/casualty insurers plan to start using AI in operational decisions this year, according to a survey, which also reveals that nearly all insurers already using AI have been ...
Underwriters’ Dilemma: Is AI a Cyber or Tech E&O Risk?
When it comes to artificial intelligence, more questions than answers keep underwriters from venturing into the space and lead to a lack of clarity, according to ...
