Chubb’s high-net-worth personal lines insurance business may have some new competition, but Chairman and CEO Evan Greenberg and a key executive say those rivals haven’t made much of a dent. “From my point of view we don’t see a change …
Owners Must Show Them the Money, Culture and Other Perks As the insurance industry unemployment rate continues to hover at 1.7 percent, which is lower than the national average of 3.9 percent, insurance agencies face stiff competition in the war …
To Win the War for Talent In today’s passive, candidate-driven market, employers do not have the upper hand in the recruitment process. Despite the rising rate of retirement among experienced professionals, which is forcing organizations to increase their hiring efforts, …
A broker fee is a fee in addition to premium and commission that is charged by retail and wholesale insurance brokers and that ultimately is paid by the insurance buyer. Such fees are subject to two overriding rules: (1) they …
In the world of autonomous vehicles, Pittsburgh and Silicon Valley are bustling hubs of development and testing. But ask those involved in self-driving vehicles when they might actually be seen carrying passengers in every city, the almost universal answer is: …
How a Small Distinction Can Nullify Insurance Coverage In June 2017, the NotPetya virus crippled many large companies including Merck and Mondelez (the manufacturer of Nabisco, Cadbury, and Toblerone). The aggregated losses, including property damage, operational disruptions, and supply chain …
The U.S. Treasury issued final regulations and other guidance on a provision of the Tax Cuts and Jobs Act that allows owners of sole proprietorships, partnerships, trusts, and S corporations to deduct up to 20 percent of their qualified business …
Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies …
The private flood insurance industry made significant strides to insure more households against the peril of flood in 2018. Factor in recent major flood events and an ever-changing regulatory landscape, and the role of private flood insurance has never been …
The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019, reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of …
