Impact of Social Inflation for P&C Insurance & Commercial Auto Insurance Costs
The phenomenon of social inflation has garnered a great deal of attention in the property and casualty (P&C) insurance industry
The phenomenon of social inflation has garnered a great deal of attention in the property and casualty (P&C) insurance industry
Floods affect more people across the globe than any other natural disaster. The deadly floods within year were a tragic reminder of the increasing threat
Property insurance growth in Europe recovered at 3.2% as compared to a flat growth due to premium price hardening owing to escalating natural catastrophe losses
Mantissa Group initiated a survey, conducted across life Insurance technology and business leaders, and supplemented by a series of interviews
The jury ruled in Depp’s favor, and Heard was ordered to pay $8.3 million. Heard then looked to her insurance company to pay the judgment
The “key focus” will be on how high reinsurance costs will impact their operating margins and how much risk exposure they keep on their own balance sheets
Worries about capital and adverse variable investment income are expected to be the focal points of discussion as life insurers report
Climate change is taking an increasing toll. The natural disaster figures are dominated by events that are more intense or are occurring more frequently
According to Global InsurTech Report, 2022 has been a year of macro-realism (for many InsurTechs, investors and risk partners), micro company hardship
The aviation, marine and cargo transit (MAT) Global Insurance Industry is estimated to grow at a compound annual growth rate of 6.4% from 2023-2026
The impact of current high inflation on German insurance market profitability should be limited due to their ability to adjust prices
Public announce of cyber risk transference by (re)insurers to capital markets through ILS issuances represent the potential for a reinsurance
Every insurer should closely monitor price developments, focusing on the drivers relevant to the respective insurance coverages, such as repair costs, construction prices or medical inflation
The immediate impact of inflation on non-life (P&C and health) insurers’ earnings is negative, primarily through rising future claims costs on current insurance policies
Social Security checks represent about 30% of the income of the 65 and up set, according to the Social Security Administration, or SSA
The world saw another year of impactful natural catastrophe events that once again emphasized the need to better account for the growing risks that hazards bring
Commercial property and casualty (P&C) insurance has been riding on the back of a hard market. However, insurance premium increases have slowed
As private flood insurance accounts for over 40% of California’s entire flood market—a significantly larger share than in the other leading states—the ongoing flooding issues
A global fixed income allocation maximizes diversification across all markets and issuers. JPMorgan credit ratings forecasting framework
Surplus lines insurance is a special type of insurance that covers unique risks. It fills a gap in the standard market by covering things that most companies can’t or won’t insure
As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond companies to be more responsive
Allianz Risk Barometer incorporates the views of 2,712 respondents from 94 countries and territories. Elevated levels of disruption to continue as dangers
Emerging capabilities including telematics, artificial intelligence, machine learning, and automation have transformed nearly every aspect of the insurance value chain
The world thrives on it, but we are living in exceptionally challenging and unpredictable times with negative developments converging at one time on a global scale
The war in Ukraine has brought devastating humanitarian consequences first and foremost, but also unexpected losses and economic shocks
Subscription models have been a hot topic of conversation in the insurance industry for several years. For some, the prospect of subscriptions becoming the dominant model
Saudi Arabia’s insurance market, the second largest in the Gulf region by gross written premium (GWP) after the UAE, offers a vibrant and competitive environment
According to UK Home Insurance Consumer Research, the first thing that a consumer looks at when choosing home insurance is price
Insurers are accelerating their investments in digital technologies, applying Artificial Intelligence (AI) and automation strategies across entire business functions
Earlier this year, a Grain SA survey indicated that 22% of grain producers in South Africa had lost more than 60% of their white maize plantings to water damage in 2022
The year 2022 can be characterized as one of the most challenging years in recent decades from the social, financial, political environment points of view
More than 10 months into Russia’s invasion of Ukraine, the war’s long-term impact is coming into focus. The War prompted many multinational corporations to voluntarily exit
In the negotiations taking place on contract renewal, it has turned out that the international insurance industry is no longer willing to agree on coverage for Russia and Belarus
2024 year started in a dramatic, unexpected way. CEE states have travelled a long way after the fall of the Iron Curtain
For nearly a decade, insurtechs have experienced rapid growth and skyrocketing valuations. But in 2022, investors’ optimism tempered by compounding pressure
Insurance companies continued to follow a years-long trend by increasing their structured securities investments, with 3% growth year over year to $1.14 trillion
With swirling changes across the industry, KPMG surveyed 134 insurance CEOs, to gather their insights and perspectives on the industry and economic landscapes over the next 3 years
The insurance industry has had to rethink its business strategies to prepare for more ambitious decarbonization initiatives across sectors
Insurance customers are open to new services that mitigate risks and believe that insurers should be tackling climate change proactively
The insurance industry will continue to follow in the tech world’s steps by rapidly innovating and shifting the way it does business in order to better serve
Insidious form of crime is accelerating and evolving, as acceleration to ecommerce and remote work opened up new avenues of entry for fraudsters
Insurers’ efforts around Finance Transformation have mainly focused on the immediate priority of IFRS 17 compliance. What’s beyond?
As property and casualty insurers in the United States struggle to maintain profitability, executives will need to direct a coordinated response across pricing, underwriting, claims
S&P Global Ratings’ insurance industry and country risk assessment (IICRA) for the global marine protection and indemnity (global P&I) sector is intermediate
The Korean financial performance of life insurers should marginally improve in the near term, driven by a gradual rise in investment yields and a greater portion
Successful cloud migrations depend on knowing where the value for insurance lies in cloud and on business and IT working together
Fitch Ratings’ neutral outlook on China’s insurance reflects view that the sector will maintain a sound solvency buffer and steady premium growth
Deteriorating sector outlook for the German insurance market is deteriorating for 2023, reflecting expectation that inflationary pressure on claims
What is new is the rise of industries like insurance, finance, retail, and more getting into the metaverse. 30% of organizations will have services ready for Metaverse
Insurance fraud costs the UK an average of £1.2bn annually. In the last year, fraudulent home insurance claims increased by 45% and according to the 2022 Insurance Fraud
Costs for everything from food to healthcare to insurance premiums have increased in the past few years – especially after the 2020 lockdown
Traditional life insurance is no longer the primary business of many companies in the life insurance industry. The emphasis has shifted to underwriting annuities
Ransomware is a form of malware that is constantly evolving and is designed to encrypt files on a device, making all files and systems that depend on them unusable
What customers want and need, not what insurers want to sell or have always sold, will be the dominant driver of innovation and growth
The impact on the insurance industry was noticeable: in 2020, premium growth slowed to approximately 1.2 percent
Emerging data analytics technologies centred on machine learning bring order and purpose to this unstructured data so that it can be more effectively
Rapid advances in technology, the continuing talent shortage and rising customer expectations for experiences of all types have disrupted the insurance industry
2022 is the second consecutive year in which the estimated insured losses total more than USD 100 billion
The global insurance industry faces multiple pressures this year but we expect rate hardening to regain momentum in response
Responsible for managing insurer financials at public companies have spent five years preparing for the long-anticipated implementation of new accounting standards