Travelers Companies Inc. has set aside a “modest” amount of additional money to cover its possible exposure to child sex-abuse claims, the insurer’s finance chief, Daniel Frey, told analysts during an earnings call on Thursday. Two analysts asked about Travelers’ …
Insurer Travelers Cos Inc reported a lower-than-expected quarterly profit on Tuesday as it bolstered its reserves to cover asbestos-related and other claims, sending its shares down nearly 4% in trading before the bell. The insurer said it set aside an …
Reserve accuracy is a key performance indicator for claims departments and is usually the primary focus of claims audits. Regardless of whether companies outsource claims to a third party administrator (TPA) or handle them internally, the establishment of proper case …
Tower Group International Ltd., the insurer that plunged last year amid reserve shortfalls, arranged to get a lifeline from AmTrust Financial Services Inc. Tower will be bought for about $172.1 million, or $3 a share by a reinsurer controlled by …