Erroneous policy information from customers and agents, whether by accident or intent, can distort actual risk and take a heavy toll on auto insurers’ underwriting results. Research conducted by Verisk Analytics for three large insurers found deteriorating application integrity contributed …
Zurich Insurance Group AG is “prepared to shrink” some of its businesses after being caught off guard by the scale of claims it had to absorb last year, according to Cecilia Reyes, the company’s chief risk officer. “We were surprised, …
Despite the impact of Superstorm Sandy and smaller investment gains, private U.S. property/casualty insurers’ net income after taxes grew to $33.5 billion in 2012 from $19.5 billion in 2011, with insurers’ overall profitability as measured by their rate of return …