Claims & Reserving
Swiss Re Expects Hurricane Ian Claims to Bring Q3 Loss
Swiss Re forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately ...
Latest Target in Florida Claims: Cast Iron Drainpipes
A decade ago, it was questionable sinkhole damages that proliferated in Florida property insurance claims. More recently, "free roof" solicitations, roof claims and thousands of lawsuits have rattled ...
A Fintech Founder’s Backstory: Who Is Demetrius Gray?
During a 45-minute interview, the founder and CEO of a fintech company known as Captain told Carrier Management a little bit about his career path to his current leadership role. Along the way, ...
Reserves and Inflation: Insurers Got This!
According to an analysis of loss reserves published in mid-March by Assured Research, 2021 marked the 16th straight year that the U.S. P/C industry's loss reserves developed favorably—by about ...
McKinsey Chief Says Firm Failed to Identify Opioid Epidemic
The head of McKinsey & Co. acknowledged that it failed to see the opioid epidemic unfolding while simultaneously doing work for drug regulators and makers of painkillers including OxyContin in ...
‘Deceptive’ Denial Letter Costs Insurer Treble Damages After Appeal to 4th Circuit
The insurer first said it would pay to repair a breezeway at a student housing complex that partially collapsed during a Saturday night student party. Then it said it wouldn't and sent the ...
Workers Reporting Injuries Earlier in Tenure, Carrier Study Reveals
An insurer's study of a decade of workers compensation claims reveals that injury reports in 2021 came from employees who hadn't been on the job as long as those who reported claims in 2011. On ...
$10B Worst Case Insurance Aviation Loss for Planes Grounded in Russia
A realistic estimate of aviation insurance and reinsurance losses for the grounding of planes in Russia falls in the $5-$6 billion range, but a worst-case estimate of $10 billion would be the biggest ...