Research and Trends News

Verisk: 96% of the Area in California Fire at High or Extreme Wildfire Risk

Most of the area within the massive Thomas fire in Southern California is at high or extreme wildfire risk, according to a Verisk report on Wednesday. The fire encompasses more than 230,500 acres, and while containment on the wildfires in …

Tower Group Companies Top List of U.S. P/C Impairments in 2016: A.M. Best

Of the 14 property/casualty impairments identified for 2016, 11 were members of the Tower Group, with the remaining three composed of two medical professional liability risk retention groups and a commercial lines reinsurer, according to a new A.M. Best special …

Vietnam Suffers Rare $1 Billion Natural Catastrophe Loss: Aon Benfield Report

Typhoon Damrey made landfall in Vietnam during November as a Category 2 strength storm, bringing estimated economic damages of VND22.1 trillion (US$1.0 billion) – a rare billion-dollar event for the country, according to Impact Forecasting, Aon Benfield’s catastrophe model development …

When Humility in a Boss Pays Off and When It Doesn’t

It’s good for a boss to be humble – as long as that’s what the firm’s employees expect. Some workplace teams showed more creativity if the employees rated their bosses as showing more humility, Ohio State researchers studying workplaces in …

It’ll Take Time for P/C Insurers’ Profits to Rebound After 2017 Storms, Wildfires: Fitch

U.S. property/casualty insurers will rebound in 2018 from the late-2017 onslaught of hurricanes and wildfires, but it will take a while to return to “significant underwriting profits,” Fitch Ratings predicted in a new report. “While performance is likely to rebound …

Report: 86K-plus Homes at Some Risk Level in Southern California Wildfires

A total of 86,242 homes in Ventura and Los Angeles counties with a combined reconstruction cost value of $27.7 billion are at some level of risk from the Thomas, Rye and Creek Wildfires, according to a CoreLogic report issued on …

How Commercial Insurance Customers Rate Large Carriers, Brokers

Overall customer satisfaction with large commercial insurers has increased in 2017, driven primarily by insurers’ focus on more tailored and diversified products for their customers. That’s according to the J.D. Power 2017 Large Commercial Insurance Study that measures customer satisfaction …

Global Temperatures Could Rise 15% More Than Expected: Scientists

World temperatures could rise 15 percent more than expected this century, obliging governments to make deeper cuts in greenhouse gas emissions to limit global warming, scientists said on Wednesday. Average surface temperatures could increase up to 0.5 degree Celsius (0.9 …

Growth in U.S. Healthcare Spending Slowed in 2016: CMS

In 2016, overall growth in national spending on healthcare slowed in 2016, increasing 4.3 percent following 5.8 percent growth in 2015, according to a report by actuaries with the Centers for Medicare & Medicaid Services (CMS). Following Affordable Care Act …

Technology, Regulation Prove Double-Edged Swords in Product Recall Risk

Exploding Samsung phones, error-prone Takata airbags, faulty GM vehicle ignition switches, failing Johnson & Johnson hip implants — multi-billion dollar product recalls have become more common over the past decade. According to one insurer, product-related risk is one of the …