Market News

Milliman has announced the addition of Property & Casualty (P&C) expertise in its Tampa office in response to the growing demand for property insurance analytics. Consulting actuary John Rollins will lead the Tampa P&C team, bringing 27 years of experience to the role and specializing in catastrophe-exposed property and flood insurance. Read More

According to RMS, the risk of insurance losses through physical damage to property increases as hackers target control systems linked to the Internet. The firm has responded with a new class of "cyber-physical" risk models that explore a range of cyber-attack scenarios that can lead to physical property damage. Read More

Pinnacle Actuarial Resources and Carfax Banking & Insurance have launched a data analytics group to deliver actionable, data-driven insights to automobile insurers to help them benchmark their book of business against the broader market and identify adverse selection trends in areas such as annual mileage, ownership history, and damage events. Read More

In a recent interview, Cleveland Clinic's Executive Director of Enterprise Risk and Insurance, Charles Kolodkin, and Clearwater Compliance's CEO, Bob Chaput, discuss steps in developing a hospital cyber risk management strategy and share how captive insurance companies prove to be critical in the ongoing effort to manage and reduce cyber risk. Read More

A Reinsurance Association of America (RAA) survey of reinsurers' statutory underwriting results reveals the combined ratio for a group of 18 US property and casualty reinsurers was 108.2 percent during the 12 months that ended December 31, 2017, deteriorating from the 95.2 percent combined ratio reported for the same period in 2016. Read More