AIG Chief Executive Officer Peter Zaffino said the biggest challenge to the insurance sector over the last decade has been “unpredictable risks” including the pandemic, wars and climate change.
Author: Annie George
GEICO Laying Off 2,000 Employees Nationwide
GEICO is reducing its workforce by roughly 2,000 associates or 6% of its total workforce.
Getting ESG Reporting Ready and Uninsurable Risks: Takeaways From the WSJ Pro Sustainable Business Forum
Investors at the WSJ Pro Sustainable Business Forum lat Thursday said their interest in sustainability information remains high and executives said they are working to develop their data and capabilities even though mandatory reporting isn’t yet in force.
Marsh McLennan Posts 13% Revenue Growth in Q3 2023
Consolidated revenue in the third quarter of 2023 was $5.4 billion, an increase of 13% compared with the third quarter of 2022, for Marsh & McLennan.
Allstate Announces September and Q3 2023 Catastrophe Losses
The Allstate Corporation today announced estimated catastrophe losses for the month of September of $317 million or $250 million, after-tax.
California Regulator Says Work Underway to Transition Closed CSE Book of Homeowners, Auto Customers to Comparable Policies
The California Department of Insurance is working on rate filings to transition Civil Service Employees Insurance Co.(CSE) homeowners and personal automobile policyholders to comparable policies, according to spokesman Michael Soller.
Risk Strategies and One80 Intermediaries to Operate Under New Accession Risk Management Group Brand
Risk Strategies and One80 Intermediaries today announced an internal reorganization to operate under the newly introduced Accession Risk Management Group parent brand
Wildfires Estimated to Cost U.S. Between $394-$893B Annually
Climate-exacerbated wildfires are estimated to cost the United States between $394 billion to $893 billion each year in economic costs and damages, a number that is considerably higher than existing estimates.
As Storm Damages Mount, States Try to Make It Harder to Sue Insurers
A few hard-hit states are trying to ease the pain on insurers by making it harder for lawyers to sue. Insurers have long complained that aggressive lawyers with dubious claims have led to higher premiums for their customers.
Health Insurance Premiums Catching Up to Record Inflation Over the Past Few Years
Inflation that has sent the cost of groceries and rent soaring over the past three years is now surfacing in health insurance.