Despite a 9.9% growth in net earned premiums, the US property/casualty industry reported a $21.2 billion underwriting loss in 2023, according to a report by AM Best.
Emerging risks are always in mind for underwriters, but reinventing the wheel is rarely necessary to give brokers and insureds the new types of security they seek.
In founding Archipelago, Hemant Shah sought to better empower “sellers of risk” so that when they dialogue with underwriters, they can present a clearer picture of their assets’ values and exposures.
As Kristina Talkowski settles into her new role as senior vice president of middle market commercial lines at Nationwide, she spoke with Risk & Insurance about how her career has been shaped, the biggest challenges she has faced and her plans for the future.
Carmony Wong took on a new role with Reinsurance Group of America in May of 2023. Here, she shares some details of her experience in the RGA Leaders of Tomorrow program.
As the insurance industry faces a considerable talent shortage, finding ways to optimize the process of knowledge transfer has never been more crucial.
Clear, organized and granular data is your friend. Not only does it put you at the top of the list for service with underwriters, it makes the work of everyone in the process more seamless.
Swiss Re’s Kera McDonald shares her thoughts on business growth areas, potential solutions to industry challenges and the importance of hiring data-savvy underwriters.
Falvey does a lot of work in the life sciences, and a lot of pharma business is centralized in a couple of areas around the country — including some in Tennessee, which recently experienced very damaging tornadoes.
The next two years may be rocky as high inflation lifts claims costs and threatens reserves, but there is promise for the U.S. P&C insurance industry to improve profitability, say Swiss Re’s chief economists for the Americas in their latest report.
“I don’t know that we do enough with people to let them know what’s available and what kind of life you can live by being part of this great industry. I get up every morning looking forward to my work. I love what I do, and I think that’s important.”
“Shareholder litigation is driving about 85% plus of the losses in the D&O world. It can also hit what we call E&O, on the financial institution side.”