Articles by Susanne Sclafane

Sclafane is Executive Editor of Carrier Management, a publication of Wells Media Group serving property/casualty insurance carrier executives. She is a media professional with deep background in the P/C insurance industry including 25 years as editor and reporter for trade magazines, online news services, digital journals. Her prior experience includes 14 years as a casualty actuary.

Chubb Not Declaring Itself Net Zero, CEO Greenberg Says

In addition to predicting greater geopolitical volatility driven by global food and energy insecurity, Chubb’s chief executive warned carriers to brace for greenwashing lawsuits on the horizon—against D&O insureds and insurers themselves—at an industry gathering yesterday. Speaking at the 38th …

Berkshire Hathaway’s Buffett Talks Nuclear Risk and Tribalism

Shareholders attending Berkshire Hathaway’s annual meeting on Saturday had questions about what will happen to the conglomerate when Chairman Warren Buffett is no longer around to lead it. They also wanted to know how external problems of the world would …

State Farm Still Wins: Buffett Talks Auto Insurance at Annual Event

There wasn’t a lot of talk about auto insurance at this year’s annual meeting of Berkshire Hathaway, but when the subject came up, Warren Buffett acknowledged the continued dominance of one competitor—a mutual insurer. “The largest auto insurance company in …

Inflation Boosts W.R. Berkley Top Line to Record Level as Exposures Grow

While investment analysts continue to track commercial insurance rate hikes for property/casualty insurance carriers, exposure growth was an important contributor to a top-line record for the first quarter at W.R. Berkley Corp., the specialty carrier’s CEO said. Speaking on an …

Tesla Insurance Turning ‘Nightmare’ Claims Experience Into ‘Dream’: Musk

Tesla is “trying to turn a nightmare into a dream with Tesla Insurance,” Chief Executive Officer Elon Musk said Wednesday. His final words during an earnings conference call that lasted more than an hour came as Musk and Chief Financial …

How Warren Buffett Does a Deal: Alleghany Merger Backstory

Berkshire Hathaway didn’t require Alleghany to pay any breakup fee in the event another potential acquirer topped an $11.6 billion deal price that Warren Buffett offered to CEO Joseph Brandon in early March—”after some casual conversation” at a dinner meeting. …

D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits

Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported in March, citing the impact of social inflation on rising claims and defense costs. Separately, …

Tesla, Other Car Makers Have Edge Over Incumbent Auto Insurers: Moody’s

Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody’s Investors Services said. In a report titled, “Tesla’s insurance venture puts incumbents under added …

Rate Hikes, Telematics, Data Science Leading Allstate Back to Profit

For the second time this month, a personal auto insurance giant devoted an investor conference to the topic of rate hikes, with Allstate executives also assuring listeners the carrier has various other tools to return to profitability. “Looking back to …

Buffett’s Berkshire Hathaway to Buy Alleghany for $11.6 Billion

Warren Buffett’s Berkshire Hathaway said it reached an agreement with Alleghany Corp. to buy the New York-based property and casualty insurer for about $11.6 billion. Omaha, Nebraska-based Berkshire will acquire all outstanding Alleghany shares for $848.02 per share in cash …