As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged or evacuated because of natural catastrophes …
A well-known workers’ comp number cruncher and an actuary are calling Chicken Little on insurance industry warnings about the cost of COVID-19 claims. Health Strategy Associates owner Joe Paduda and Bickmore Actuarial principal Mark Priven dispute assertions by Moody’s, the …
The workers’ compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice president and chief economist for the Insurance Information …
Hi Marley Raises $8M in Funding Round Hi Marley, a chatbot designed for the insurance industry, announced that it raised $8 million from investors, bringing total financing for the company to $18.6 million. The Boston based insurtech said the new …
Key segments of the property/casualty insurance industry, which is facing mounting claims for business interruption losses from the pandemic, have thrown their lobbying weight behind a proposed federal program to replace revenues lost by businesses shut down during pandemics like …
The number of workplace injury claims continues to decline year after year despite significant changes in workforce demographics that one might think should increase claims frequency, according to a report released Monday by the National Council of Compensation Insurance. The …
Preliminary research indicates that the legalization of recreational marijuana in 10 states has increased accident rates, the Insurance Information Institute said Wednesday. The group cited an October 2018 study by the Highway Loss Data Institute that shows collision claim frequency …
Back to back hurricanes coupled with retiring, experienced personnel has created a tight adjuster job market. From emails to online jobsites, there’s no shortage of firms advertising jobs for cat adjusters in the aftermath of Harvey and Irma. A recent …
In the last two years, private-passenger loss costs have risen sharply the result of more and costlier claims, according to a new white paper released by the Insurance Information Institute (I.I.I.). “There has been an alarming increase in crashes and …
The number of homeowners insurance claims from lightning strikes in the United States fell in 2015; however, the total insurers paid on those claims rose by nearly 7 percent, according to a new analysis by the Insurance Information Institute (I.I.I.). …