A majority (88%) of U.S. workers are struggling to meet basic living costs, fueling a sharp decline in retirement confidence, according to WTW.
Tag: inflation
Chubb Outlook: Middle Market Companies Set Financial Growth Records, Yet Remain Cautiously Optimistic Amid Emerging Risks
Chubb and the National Center for the Middle Market (NCMM) released today new data that reveals middle market companies demonstrated continued robust growth against the backdrop of inflationary pressures, cybersecurity threats, natural catastrophes and insurance coverage gaps. These findings are the centerpiece of the 2023 Year-End Middle Market Indicator (MMI).
Inflation Boosts US P/C Insurers’ Reserve Risk in Casualty Lines
Fitch Ratings expects the U.S. property casualty insurance (p/c) industry to generate modest underwriting improvement in 2024, following poor auto insurance results and inordinate catastrophe losses in 2023.
Allianz: Prepare for Directors and Officers (D&O) Headwinds
Ongoing inflation, refinancing and insolvency pressures, geopolitical issues, and electoral uncertainty are just some of the headwinds D&Os need to be prepared for in 2024, according to Allianz Commercial financial lines and D&O experts.
Woodruff Sawyer’s P&C Looking Ahead Guide: Experts Predict Single-Digit Rate Increases in 2024
Inflation—both economic and social—continues to contribute to premium increases in the P&C insurance market, and rising reinsurance costs due to severe weather events have led to higher property costs. Woodruff Sawyer, however, does not expect significant rate increases in 2024—most buyers should see single-digit percentage increases, similar to what they saw in 2023.
Heightened Economic Risks Dominate G20 Business Leaders’ Near-Term Concerns
According to new data from the World Economic Forum, economic and societal threats – such as economic downturn, inflation and an erosion of social cohesion – rank among the biggest risks in G20 countries over the next two years, based on a survey of business leaders globally.
Inflation, High Interest Rates, and Catastrophes Contribute to 2023 Underwriting Loss for P&C Industry
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.8, in part due to severe convective storm losses being the highest in decades.
AIG Chief Zaffino: Casualty Lines Hit by Inflation and Competition
Economic and social inflation are impacting casualty lines in the market, particularly financial lines, as American International Group Inc. moved forward with several divestitures to sharpen its focus on general insurance, said its chief executive officer.
Progressive CEO: Personal Auto Conditions Improved in Third Quarter
Personal automobile insurance claims severity slowed in the third quarter as higher rates continued to lift premiums and unfavorable development and inflation abated, Progressive Corp. President and Chief Executive Officer Tricia Griffith said during a third-quarter earnings call.
Cincinnati Financial CEO Says Inflation Easing as Rate Increases are Still Catching Up
Inflation that rapidly escalated at the start of 2021 has moderated the past couple of months, but it will take time for rate increases reflecting higher costs to reach all policyholders, Cincinnati Financial Corp. Chairman and Chief Executive Officer Steve Johnston said during a third-quarter earnings call.