Millennials are much more likely to view AI as a positive development in property/casualty insurance compared to other generations, according to a new report that underscores contrasting perspectives of different generations toward AI technology and its impact on insurance. The …
Fitch Ratings said it expects the U.S. property/casualty insurance industry to generate modest underwriting improvement in 2024, following poor auto insurance results and inordinate catastrophe losses in 2023. Persistently high inflation and slowing economic growth, along with an expectation for …
Zurich Insurance Group AG got a boost from its property & casualty business, putting the company on track to meet Chief Executive Officer Mario Greco’s three-year restructuring goals. The Swiss insurer’s biggest unit saw higher profit and posted a lower …
Liam McGee, an Irish-born banker and insurance executive who guided Hartford Financial Services Group Inc. through a taxpayer bailout and shored up the company’s finances, has died. He was 60. McGee died Feb. 13 after a two-year battle with cancer, …
South Dakota Insurance Director Merle Scheiber plans to step down from his post on Dec. 29. He has been insurance director since 2005. Larry Deiter, currently the division’s assistant director of property and casualty insurance, has been named interim director. …
Germany’s Allianz SE is to buy part of Italian insurer UnipolSai’s property/casualty insurance business in a deal worth up to 440 million euros ($612 million). Allianz said in a statement late Saturday that the business had premiums last year of …
Chief claim officers with leading property/casualty (P&C) insurers ranked workforce management as their top claim-related challenge. Over three-fourths (76 percent) identified it as a top three business issue in a new P&C Claim Officer Survey conducted by global professional services …
Most insurance policyholders would prefer to have a simple explanation of their insurance policy in terms they can understand and have policy details explained in a brief, one-page summary, according to survey results released by Nationwide Insurance. When asked to …
New York-based AmTrust Financial Services announced that it has entered into an agreement, pending regulatory approval, to acquire Sequoia Insurance Company and its subsidiaries, Sequoia Indemnity Company and Personal Express Insurance Company (“Sequoia”) for approximately $60 million. Sequoia offers a …
Tennessee regulators observed that in recent months, some property/casualty insurers in the state have filed to expand or shift their roofing policy terms to include actual cash value policies. As a result, Tennessee’s Department of Commerce and Insurance is reaching …