Proxy Discrimination “The data insurers use for risk-based pricing is data that is actuarially sound and correlated with risk and does not include nor use certain protected class attributes. To argue that insurer use of data, algorithms, or AI in …
“Monster” Event Inevitable “Climate change may have been announcing its arrival. However, no ‘monster’ event occurred during 2024. Someday, any day, a truly staggering insurance loss will occur–and there is no guarantee that there will be only one per annum.” …
D&O Dampening “Despite recently favorable statutory underwriting results, the softer pricing of the past couple of years could ultimately dampen the financial performance of D&O insurers because the premium base to support future claims activity has diminished, even as risks …
Uninsurable Future? “We’re marching steadily towards an uninsurable future in the United States because we’re not doing enough fast enough to address the underlying cause, which is climate change.” — Dave Jones, California’s insurance commissioner from 2011 to 2018. Citing …
Los Angeles County Fires “We’re seeing total losses. We’re going out there and there’s really nothing to see. We’re maybe measuring the perimeter of a building trying to figure out a little bit what the structure looked like, if there’s …
Secrets to Success “We really look for people that are good at service. Sometimes not even in the insurance application, but often times, we interact with service-minded people throughout their interactions outside of the company, and we’ll recruit those kinds …
CO2 Highs “We don’t see a sign of fossil fuel emissions peaking in 2024.” — Said Pierre Friedlingstein, a climate scientist at the University of Exeter and lead author of The Global Carbon Budget report. The study, published during the …
‘Growth Opportunity’ “We view homeowners as a growth opportunity. … There’s just a few competitors out there that are wanting to write new business, and we want to take advantage of that opportunity. We feel good about where our pricing …
NFIP Grace Period “By extending the grace period for renewing policies, we are giving our policyholders some breathing room and demonstrating that the National Flood Insurance Program stands with them at time of tremendous heartache and difficulty.” — Said Jeff …
Agents’ Insurer Satisfaction “Agents’ jobs have gotten harder, and a larger portion of agents are proactively shopping ahead for clients. Insurers that want to keep earning agents’ business are finding ways to partner with them every step of the way.” …
