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Retail Workers Consider Quitting Due to Safety Concerns Ahead of Holiday Shopping Season
A majority of American retail workers (57 percent) report feeling unsafe going into the peak holiday shopping season, according to Motorola Solutions' second annual U.S. Retail Worker Safety Report. ...
Why Homeowners Insurers Are Losing Money: Roofs Matter, Not Just Rates
Rate hikes haven't been enough to bring profits to U.S. homeowners insurers, according to a new analysis from Aon, which finds that returns-on-equity for a group of homeowners insurers studied are ...
New Hampshire High Court Invalidates GEICO Underinsured Claim Provision
A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the insureds' right ...
Soft Commercial Market Ahead: Prepare for Underwriter ‘Herd Behavior’
Commercial insurance pricing is cyclical, and the top of the hard market cycle appears to be at hand. While traditional cycle models point the finger at the availability ...
The Data Behind Rising Homeowners Premiums: By Peril and By State
The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual ...
The Compliance Imperative: How Louisiana’s House Bill 672 Is Reshaping the MGA and TPA Landscape
Louisiana's newly enacted House Bill 672 has introduced a wave of regulatory changes that specifically target managing general agents (MGAs) operating within the state. ...
2025 Predictions: Tech and UBI Growth, 5 Carriers to Exit Auto Market
It's expected that in 2025, rising claims costs will continue to push insurance rates higher, frustrating customers and forcing insurers to customize products, according to a new report by global ...
The Evolving GenAI Journey: Three Ways the Technology Is Impacting P/C Insurance
It is difficult to recall many technologies that have ascended from such relative obscurity to becoming a top agenda item driving conversations across sectors as rapidly ...
So…Where Are We Now? VC Viewpoint on InsurTech Funding Trends
Long seen as ripe for innovation, the insurance industry attracted significant attention from venture capital investors over the last few years. A renewed focus on ...
90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to ...
Bumps Ahead as Disruption Drives Changes in Auto Insurance
There is no doubt the auto insurance industry is in a state of flux. Rising repair costs, poor driving behavior and advancing auto technology has disrupted the market, ...
Underwriters Wary of PFAS Amid ‘Superstorm’ of Litigation, Regulation
As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who ...
Underwriting Games: To Manage the Cycle Effectively, Focus on Behavior
Prices are under pressure in many insurance markets. After an extended period where pricing levels have risen and held at profitable levels, the balance of power appears to be shifting to buyers. In ...
The Benefits of a Four-Day Workweek
Companies exploring the option of letting employees work four days a week hope to reduce job burnout and retain talent seeking a better work-life balance, according to ...
Four Arrested for Insurance Fraud in Fake Bear Attack
In an event that could be dubbed stranger than fiction, four California residents were arrested on charges of insurance fraud when they claimed fake bear attacks damaged their Rolls Royce. The ...
How Trump’s Second Administration Affects Business: Musk, Tariffs and More
Donald Trump's return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including ...
InsurTech Innovator Has High Hopes for Ascend
The first startup Andrew Wynn joined became a multibillion-dollar home run. The first he started sold to Hippo Insurance in 2019. Now, the 35-year-old leader is swinging for another smash hit — ...
New Hire Relationships: Men Rewarded for Meet and Greet Behavior
Building relationships with colleagues is critical when starting a new job, but a Rutgers-led study in the Journal of Management Scientific Reports suggests that only men are rewarded for their ...
The Merger of Strategy and Risk: Understanding the Why
Over the last few years, research has shown that an increasing number of employees want to understand the "why"—or otherwise have purpose—behind what they do to be ...
More Than Half of All Employees in Finance, Insurance Work Remotely: Triple-I
Data as of September 24, 2024, shows that 63.7 percent of workers in Finance and Industry spend some of their time in a remote work environment. The analysis, conducted by the Triple-I, shows that ...
Safeco to Take Personal Lines Renewal Business of Main Street America
Liberty Mutual's Safeco Insurance has agreed to take the personal lines business of Main Street America, marking the second time in two months that Safeco has stepped in to assume a personal lines ...
The U.S. Has Sustained 24 Billion-Dollar Disasters in 2024
Since 1980, there have been 400 weather and climate disasters where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2024), according to the National Centers for ...
S&P Reveals Top 50 Largest P/C Insurers
As the third-fastest growing company on a list of the world's top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P ...
Reality Show Star Pleads Guilty in Multimillion-Dollar Crop Insurance Fraud
Reality television star Steve McBee provided false information for crop insurance benefits, resulting in $3,158,923 federal crop insurance benefits and subsidies he was not entitled to receive. The ...
Repair Times Decline by 5 Days, Auto Claims Costs Continue to Rise: JD Power
Rising auto insurance premiums and long cycle times have been the bane of insurers for some time. A new report, "U.S. Auto Claims Satisfaction Study" from J.D. Power, finds that the average repair ...
CEO View: How to Bolster Commercial Underwriting With AI Assistants
Having entered the business and technological mainstream two years ago, Generative AI is now helping to boost operations and cost efficiency across the insurance landscape. Among GenAI's cutting-edge ...
A Telematics Future: Don’t Forget Insurance Agents
During a recent interview, Matteo Carbone, director of the IoT Insurance Observatory, described a new set of approaches, modeled on the success of South African insurer Discovery, which U.S. auto ...
Has Driving Behavior Changed?
If you're feeling less safe driving on the nation's roads than you used to, it's not your imagination, according to Gary Hallgren, president of Arity, a B2B mobility data ...
When the Boss Doesn’t Want to Hear About Your Stress
Employees who struggle with stress on the job will often get help from mental health and stress management resources provided by their employers.
The middle child breaks up fights, mediates disputes, and smooths the differences between older and younger siblings. They carry the weight of family responsibilities and ... A hard market, resilient domestic macroeconomic conditions and strong underwriting results have elevated specialty commercial carriers to the top of S&P Global Market ... Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate ... Plastics. What was once the pithy career advice memorably offered in the movie "The Graduate" has some potentially noteworthy similarities to one of today's most ... Just a few weeks before Carrier Management's third-quarter edition went to print, a shooting incident took place at a Butler, Pa., rally for former President Donald ...
Middle Manager Is the Middle Child
S&P GMI Performance Rankings: E&S Insurer Kinsale Takes Top Spot
Economic, Social Inflation Influencing Drop in Auto Insurance Underwriting Profits: Triple-I/CAS
Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by ...
World’s Largest Reinsurers: AM Best’s Latest Ranking…sort of
Every year around this time, AM Best publishes a single list of the "World's 50 Largest Reinsurers," ranked based on unaffiliated gross premiums recorded in the prior year. The latest installment, ...
Viewpoint: Role of Private Flood Insurance Has Room to Grow With NFIP Instability
Back-to-back hurricane landfalls in the span of less than two weeks have placed flood insurance in a new light for many inside and outside of the insurance industry, if not front and center. Images ...
Understanding and Managing Overconfident, Passionate Employees
When plotting their career trajectories, young professionals are often encouraged to follow their passion. And in the entrepreneurial world, passion is often seen as a key ingredient for success. But ...
Lloyd’s Focuses on Delegated Authority Arrangements as Looming Market Risk
While the Lloyd's market reported its best first-half profit in 17 years, it isn't resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified. ...
Swiss Re Execs Sleeping Well After $2.4B Q3 Reserve Boost
While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re's executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs ...
Allstate Says It’s Ready to Grow Homeowners Line With All 3 Distribution Channels
Allstate said it sees opportunity where others may not — in homeowners insurance. And the insurer plans to use all three distribution channels to do it. Due to rising trends in the frequency and ...
Personal Auto Insurance Could Be Obsolete in 20 Years: Morningstar
Find Digital Transformation Scary? Consider What’s Lurking in Your Old Tech
Thoughts of digital transformation may be unnerving, but what should really scare you is your old tech. In fact, that old tech is likely haunting you. It is common for carriers and MGAs to cling to ...
Florida Home Sales Decline Amid Hurricane Recovery, Surging HOA and Insurance Costs
Florida is home to the five U.S. metropolitan areas where pending home sales are falling the fastest, according to a new report from real estate platform Redfin. The Sunshine State's housing market ...
Allstate Insurers Sue Hyundai, Kia to Pay for Claims From Defective Cars
A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the ...
What Liability Insurance Underwriters Should Know About Microplastics
Climate, Geopolitical Conflict and Cyber Risks Top Concerns in Latest AXA Survey
Managing complex risks, nimble decision-making amid rapid technological advances and increasingly interconnected risks are top concerns, a recent AXA Future Risks Report outlined. The annual survey ...
Deterioration Continues in U.S. Commercial Auto Insurance Segment After $5B Net Loss in 2023
After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new Best's Market Segment Report indicates further deterioration in the first half of 2024. Despite ...
Insurance Middle Managers Speak Out
Often forgotten and overlooked when business is humming, the middle manager is typically the first to go when companies, including P/C insurers, decide to downsize. In a related article, "Middle ...
Underwriting in a Politically Charged Climate
GenAI: Why Many Insurance Companies Are Getting It Wrong
Since November 2022 when OpenAI brought LLMs and GenAI to the broad public, I have discussed AI with more than 100 insurance companies, both big and small. Nearly every one of them has conducted at ...
Climate Change Has Intensified Storm Rainfalls by 20%: Study
The heavy rain that hit much of the southeastern U.S. during Hurricane Helene is part of a long-term trend, according to new research led by Texas A&M University Regents Professor of Atmospheric ...
Allstate Thinks Outside the Cubicle With Flexible Workspaces
After ditching two-thirds of its office space and selling its Chicago headquarters, Allstate Corp. realized that even employees who prefer working remotely still need a place to gather with their ...