March 24, 2023
High inflation alone led to an increase in property/casualty claims of 5-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional increase of 3.5-6.5%,” said Swiss Re …
March 21, 2023
Continuing high levels of inflation in construction costs in the UK and globally, risk leaving homes and businesses underinsured in the event of fire or another catastrophic event, warned Chaucer, the specialty re/insurance group. Many businesses have tried to save …
February 1, 2023
Lloyd’s of London will hand some staff an extra £1,500 ($1,850) to cover rising living costs as inflation persists into 2023. The insurance exchange told staff Tuesday that those earning less than £75,000 would receive the one-time contribution, according to …
December 8, 2022
As a whole, the outlook for the U.S. commercial lines segment continues to be stable, according to AM Best, but the industry rating agency had some warnings in its latest report. Rate changes at renewal remained strong, catastrophe losses have …
November 29, 2022
Top executives at Kroger Co. and Albertsons Companies Inc. are expected to face tough questions on Tuesday from lawmakers who worry the grocers’ planned $25 billion merger will push up food prices at a time when inflation is a concern. …
November 14, 2022
The number of people who have dropped out of Britain’s job market since 2019 and who now cite a long-term illness or mental health problems has risen by half a million or about 25%, the Office for National Statistics (ONS) …
November 1, 2022
Despite a majority of global business leaders expecting a recession within the next year, many still have a positive outlook on the economy. Some leaders even reported feeling very prepared heading into a recession. That’s according to Aon’s 2022 Executive …
October 27, 2022
US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and Casualty Insurance Association says in a …
October 20, 2022
If Hurricane Ian would have made landfall in Florida, say, six months ago, the costs of reconstruction could have been even higher than the already staggering estimates now coming from the Sunshine State. Inflation is indeed set to bump up …
October 18, 2022
Lyft Inc. is increasing the service fee its U.S. riders pay directly to the company to cover higher insurance costs, the ride-hailing firm said. The increase averages less than 50 cents per trip nationally, a Lyft spokesperson said. The company …