Regulation & Compliance
Not All ‘Optimization’ Is Price Optimization; Allstate’s CGR Proves It
"The purpose of price optimization is to extract as much profit as possible from policyholders, who are often required to purchase insurance policies," according to a February 2015 press release from ...
An Accident of the Rating Process: Allstate’s Cure Explained
In Part 1 of this article series, I described cost-based pricing used by actuaries, which includes business judgment—introducing differences between the technical price indication for a book of ...
About Those Rates: Why Allstate’s Rating Program May Not Be What It Seems
Actuaries occupy a quiet, arcane world, their debates obscure: Loss development factors: weighted vs. straight? Premium impact: parallelogram vs. extension of exposures? Reserve methods: chain ladder ...
CEO-to-Employee Pay Ratio Lower Than Expected: Mercer
The difference between CEO and average employee pay may be lower than expected, according to a recent survey. Global consultant Mercer found that CEO-to-employee pay ratios are actually much lower ...
Insurers Optimistic About Latest Round of Covered Agreement Talks
Insurers say they are encouraged by the most recent developments in the covered insurance/reinsurance agreement negotiations between the United States and European Commission. Following the latest ...
Slower-Growth Surplus Lines Still P/C Industry Bright Spot: A.M. Best
It looks like diversification and keeping your balance sheet solid has gone a long way for the surplus lines market. These practices will likely be the sector's saving grace in the months ahead, A.M. ...
Self-Driving Cars Would Face 15 Benchmarks to Pass in Proposed U.S. Guidance
The Obama administration's proposed guidelines for self-driving cars, formally unveiled Tuesday, include 15 benchmarks automakers will need to meet before their autonomous vehicles can hit the road. ...
P/C Insurers’ Underwriting Losses Worsened in H1: A.M. Best
Catastrophes, lower favorable loss reserve development and challenging market conditions continued to pressure U.S. property/casualty insurers through the first half of the year, leading to an ...