Property and casualty (P&C) insurance carriers are concerned as US inflation soars. Increasing claims costs and expenses are wreaking havoc on almost every line of coverage. With no immediate relief in sight, insurers will need to revise their pricing strategies and strengthen their operational resilience to weather any eventuality, according to an article by McKinsey… Continue reading The Impact of Inflation on Insurance
Author: Farkas Laura
Starbucks Execs, Directors Face Diversity Lawsuit
Starbucks Corp executives and directors have been sued by a conservative think tank, which claims that the coffee chain’s efforts to promote diversity amount to racial discrimination. The National Center for Public Policy Research filed a complaint on Tuesday, objecting to Starbucks’ setting hiring goals for Blacks and other people of color, awarding contracts to… Continue reading Starbucks Execs, Directors Face Diversity Lawsuit
Personal Insurance Shopping for the Most Part Subdued in Q2 2022
Auto insurance shopping was down 3% overall in Q2 2022 compared to Q2 2021. That trend was primarily driven by a significant decrease by higher-risk consumers, where shopping decreased 11%, compared to Q2 2021.TransUnion’s new Personal Lines Insurance Trends and Perspectives Report found property and auto insurance shopping in Q2 2022 was generally subdued, with… Continue reading Personal Insurance Shopping for the Most Part Subdued in Q2 2022
Edward Stewart Joins Alliant Insurance Services’ Renewable Energy Team
Edward Stewart has joined Alliant Insurance Services as a Senior Vice President, Alliant Power, one of the 13 Alliant industry-dedicated verticals. Stewart will consult and advise clients on risks associated with renewable energy – solar, wind and power. Stewart will focus on partnering with clients to achieve sustainability goals and objectives. “Edward has a unique… Continue reading Edward Stewart Joins Alliant Insurance Services’ Renewable Energy Team
CA Legislature Passes Bill Requiring Social Media Firms to Consider Children’s Health in Designing Products
California’s legislature passed a bill Tuesday that would, for the first time in the United States, require developers of social-media apps such as Facebook, Instagram, and TikTok to consider minors’ physical and mental health when designing their products. The bill was passed unanimously and bipartisanly in the Assembly after passing unanimously in the state Senate… Continue reading CA Legislature Passes Bill Requiring Social Media Firms to Consider Children’s Health in Designing Products
FTC Files Lawsuit Against Data Broker for Sale of Sensitive Geolocation Data
Federal regulators have filed a lawsuit against a data broker for allegedly selling sensitive geolocation data from millions of mobile devices, which can be used to identify people and track their movements to and from sensitive locations such as reproductive health clinics, homeless shelters, and places of worship. The Federal Trade Commission sued Kochava, based… Continue reading FTC Files Lawsuit Against Data Broker for Sale of Sensitive Geolocation Data
Behavorial Health Care Integral to a Worker’s Recovery Post-Injury
As concerns about behavioral health problems increased in recent years, the Workers Compensation Research Institute (WCRI) heard through system stakeholder interviews that early screening for psychosocial risk factors is important to prevent delayed recovery. “The COVID-19 pandemic put a spotlight on the importance of behavioral health,” said John Ruser, president and CEO of WCRI. “In… Continue reading Behavorial Health Care Integral to a Worker’s Recovery Post-Injury
Mapping U.S. Shorelines to Help Communities with Adapting to Climate Change
A Canadian technology firm is using satellite imagery to create high-precision maps of U.S. shorelines that will aid coastal communities in adapting to climate change. Policymakers can better predict where heat waves or storm surges are likely to wreak the most havoc by cataloguing which neighborhoods have more impervious surfaces like sidewalks and driveways compared… Continue reading Mapping U.S. Shorelines to Help Communities with Adapting to Climate Change
U.S. P&C Reinsurers Saw Net Premiums Grow in 1H 2022: RAA
According to the Reinsurance Association of America (RAA), a group of 17 U.S. property-casualty reinsurers wrote $42.1 billion in net premiums in the first six months of 2022, up from $37.1 billion in the same period in 2021. The RAA data is based on a survey of statutory underwriting results from reinsurers. The group of… Continue reading U.S. P&C Reinsurers Saw Net Premiums Grow in 1H 2022: RAA
SageSure Welcomes John Lummis as EVP of Capital & Risk Management
SageSure, the managing general underwriter committed to protecting catastrophe-exposed property, today announced the appointment of John Lummis as Executive Vice President of Capital and Risk Management. Lummis brings more than 25 years of experience in senior executive, advisory, and investment roles within the property and casualty insurance industry, including his positions as the CFO and… Continue reading SageSure Welcomes John Lummis as EVP of Capital & Risk Management