Chubb is writing more North American personal excess and surplus lines business, but the insurer’s chief executive is not exactly celebrating. While he reminded analysts during a fourth-quarter 2023 earnings conference call that the large majority of Chubb’s personal insurance …
The recent billionaire back-and-forth about diversity, equity and inclusion initiatives is a great opportunity to look at why we’re doing DEI, how we’re doing it — and how we can do it better. Bill Ackman and Elon Musk have pilloried …
The 5th U.S. Circuit Court of Appeals ruled in mid-January that Southwest Airlines can continue to seek reimbursement under its Liberty Mutual cyber risk policy for costs incurred during a 2016 massive computer failure. The appeals court panel disagreed with …
Every year, I think of this annual first column as a crystal ball that shows trends in the insurance job market for the foreseeable future. In previous years my projections have been about “hot jobs,” like in “4 Progressive Jobs …
Cyber-related incidents such as ransomware attacks, data breaches and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. Business interruption ranked second, while natural catastrophes ranked third (up from #6) on business’ …
The beginning of a new year with all the related planning is a perfect time to take a look back and find areas of improvement. Planning ahead requires an understanding of where you are now, how you got there, what …
Nearly 75% of the U.S. could experience damaging earthquake shaking, a recent U.S. Geological Survey report shows. A USGS-led team of more than 50 scientists and engineers in the latest USGS National Seismic Hazard Model created a color-coded map that …
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion, according to Gallagher Re’s annual Natural Catastrophe and Climate …
As we’ve seen for the past several years, severe weather is no longer a seasonal or geographic issue — climate risk has now made these events possible all year long and in every state. The statistics back up this frightening …
A report from the South Carolina Department of Insurance confirms what insurers and bars and restaurants have said for the past few years: Liquor liability coverage in the state is “extremely unprofitable” for carriers – and costs are far out …
