Claims & Reserving
Full Power of Data-Driven Analytics Still Largely Untapped by Insurers
The depth and breadth of predictive modeling applications are growing as insurance companies become more comfortable with this core function in modern property/casualty business. However, few ...
Swiss Re Exec Reports: There’s a Perfect Storm Brewing
There's an irony in the term "perfect storm" that insurers understand better than anyone. Not only do we help policyholders recover from them, but we may be in for one of our own. Like shifting winds ...
Allianz Estimates $300M Cost for Germanwings Crash
Allianz estimates insurers will pay $300 million in claims and costs stemming from the crash of a Germanwings plane in the French Alps last week, insurance industry sources said on Monday. The figure ...
RIMS to Treasury: Speed Up Terror Certs
RIMS, the risk management society, submitted a comment letter to the U.S. Treasury Department calling for 90-day deadline to be set on certifying acts of terror. "A long-term extension of the ...
Insurers Face $1B Payout From February Storms in the U.S.: Aon Benfield
February storms in the U.S. are expected to cost insurers more than $1 billion, according to the latest Global Catastrophe Recap from Aon Benfield's Impact Forecasting. The report found that five ...
Expect Influx of Soft Tissue Claims to Workers Comp as ACA Takes Hold: WCRI
Workers compensation insurers should expect more cost shifting from group health plans as a key provision of the Affordable Care Act (ACA) takes hold, according to new research from the Workers ...
XL Group’s McGavick: Brokers Rule in a Global P/C Insurance Market
With today's globally focused property/casualty insurance market, brokers wield the greatest influence, XL Group CEO Mike McGavick asserted at a recent industry forum in the U.K. "Brokers hold the ...
Sandy Victims Reach First Set of FEMA Flood Insurance Deals
Federal disaster assistance officials have begun reaching settlements with more than 1,000 Hurricane Sandy victims who allege they were unfairly denied flood insurance claims or were compensated too ...