In the long-running game show of the same name, contestants vie with one another to figure out the right price to win valuable prizes. Insurance pricing isn’t all that different. Managing the ups and downs of pricing cycles and related …
Progressive Insurance is making the intellectual property it owns available to companies interested in implementing usage-based insurance (UBI) programs under a new licensing program. Progressive said licensing may be available for UBI programs under the following terms: Term of Agreement: …
Kenneth J. Berger has been named president of Berkley Specialty Underwriting Managers LLC. The appointment is effective immediately. Berger succeeds Steven S. Zeitman, who has been appointed chairman and will remain chief executive officer. Berger, who joined Berkley Specialty Underwriting …
In the days before Superstorm Sandy, there were many questions. When and where would it arrive, and what kind of destruction would it bring? Later these questions were replaced with others: were friends and family OK? How many homes were …
Allstate Corp. expects to report October disaster losses of $1.08 billion, mostly due to superstorm Sandy, the home and auto insurer said on Wednesday. Allstate, the largest publicly traded home and auto insurer in the country, said its gross losses …
If you’re startled by this headline, you’re not alone. Until recently, the words “reform” and “captive” were rarely used in the same sentence. That’s because captive insurance companies have long been immune to traditional insurance company regulation because of their …
ACE Group announced a series of appointments within its UK and Ireland region. Graeme McGeachie, London and South East corporate P&C underwriting manager, has been promoted to the position of London and South East regional manager, corporate. McGeachie will report …
The U.S. property/casualty industry’s underwriting and operating performance improved substantially in the first half of 2012 according to a special report by A.M. Best Co. Catastrophe losses, while remaining elevated compared with recent years’ experience, declined significantly from 2011 record …
Forty-five percent of insurers estimated that insurance fraud costs represent 5-10 percent of their claims volume, while 32 percent said the ratio is as high as 20 percent. This is according to a survey of U.S. insurers showing the high …
The National Association of Insurance Commissioners (NAIC) is a non-profit entity that acts as the trade association for state insurance commissioners. Although the NAIC may play a central role in regulation of the insurance industry, it nonetheless is a private …
