Articles by Susanne Sclafane

How Digital Distribution Tools from IVANS Marry Agents, Carriers and Appetites

“Looking for a professional agent in the Chicago area who is in good financial shape, wants a long-term relationship, and is seriously into habitational risks. Must be Cubs fan.” Welcome to match.com for the property/casualty insurance industry. The insurance data …

How State Insurance Regulators May Help Insurers Innovate

Three days before the inauguration of President Donald Trump last week, a panel of experts on insurance regulation predicted that state and federal regulators of the financial services sector would refocus their efforts in the year ahead. Changes at the …

NAIC Leader Says Insurer Systemic Risk Process Is Unnecessary

Although the Financial Stability Oversight Council created by the Dodd–Frank Wall Street Reform Act could serve an incredibly useful purpose, FSOC’s activities so far have been misguided, an insurance regulator said last week. Ted Nickel, president of the National Association …

Hartford’s Execs Make Plea to End ‘Real Issue, Real Pain’ of Distracted Driving

Although small commercial insurance—outside of auto—is a top-line accelerator at The Hartford, auto insurance severity continues hitting the bottom line, say executives who expect a pretax $50 million prior-year reserve charge to impact fourth-quarter profits. During Goldman Sachs Financial Services …

W. R. Berkley Forms Cyber Risk Unit with Chubb’s Vispoli at Helm

W. R. Berkley Corp. announced the formation of Berkley Cyber Risk Solutions. The new organization will offer specialty commercial insurance coverages on a worldwide basis to clients of all sizes on behalf of W. R. Berkley Insurance Group member insurance …

Berkshire Hathaway Re/Insurance Profit Falls 30% in Q3

Berkshire Hathaway reported a 10.5 percent drop in operating profit for its insurance and reinsurance operations during the third quarter, with underwriting income falling 34 percent. While General Re reported an increase in pretax underwriting income of more than $100 …

CoverHound’s Cyber Insurance Site Now Open for Small Businesses

Two weeks after unveiling insurance offerings for small businesses on its online platform, CoverHound has launched another website—CyberPolicy.com—with cyber protection tools for a similar target market. Initially targeting slightly smaller businesses—those with 15 employees or fewer—CyberPolicy.com went live on Oct. …

CoverHound Small Business Commercial Suite Goes Live

Online personal insurance seller CoverHound is adding business insurance offerings— including workers’ compensation and commercial auto— to its online platform at CoverHound.com. The site is starting by focusing on small businesses with fewer than 20 employees and plans to gradually …

Venture Capital, Traditional Insurer Interest in Insurtech Remains High

Even though venture capital investments in venture capital-backed financial technology (fintech) companies fell more than 50 percent globally during the second quarter of 2016, interest in insurance technology startups (insurtech) continues to pick up steam, a new report reveals. According …

Brexit Would Create Extra Burden for Reinsurers, Caution CEOs

While insurers and reinsurers will be able to deal with the aftermath of an exit of the U.K. from the European Union, the time and cost involved are unwelcome intrusions to the business, executives suggested here. Plan B might be …