Near-record snowfall and prolonged extreme cold throughout much of the U.S. have caused more than $1.5 billion in insured losses so far this year, according to the Insurance Information Institute. See the Top 10 winter storm and damage events in the U.S. and Canada from 1980 to 2013.
Property and casualty insurers and agents and brokers led the way for insurance-industry employment gains in December 2013, although the figures for P&C carriers have been recalibrated, throwing off some of the historical employment figures reported in 2013.
Prices are holding steady for corporate buyers of casualty insurance products, and in cases where the loss experience has been particularly good the premiums have fallen. On the property insurance side of the industry, its a buyers market, with prices falling at a quick clip.
The insurance industry once again found itself hurled into the national limelight as an unwitting participant in the climate change debate, this time in the WSJ article, In Global Warming Debate, Insurers Play It Cool.
Top pros on both the P&C and Life sides convened in Times Square to network, discuss emerging global risks and opportunities and hear executive panelists weigh in on pressing issues facing the insurance industry during the 23rd Annual Insurance Executive Conference, sponsored by Ernst & Young LLP.
Allowing scheduled National Flood Insurance Program rate increases to move forward would be a critical first step toward attracting private insurers to the flood-insurance market, says the Government Accountability Office.
Allowing scheduled National Flood Insurance Program rate increases to move forward would be a critical first step toward attracting private insurers to the flood-insurance market, says the Government Accountability Office.
A return to normalized levels of both catastrophes and loss-cost inflation could cause problems for the industry in 2014 when combined with rate deceleration/decreases, KBW says.
A return to normalized levels of both catastrophes and loss-cost inflation could cause problems for the industry in 2014 when combined with rate deceleration/decreases, KBW says.
The agent and broker subsector added jobs for the sixth straight month in November 2013, and is now just over 3,000 positions short of its July 2007 employment peak, according to an analysis of the latest U.S. Labor Departments Bureau of Labor Statistics figures.