The Texas grid operator is seeking to secure an extra 3,000 megawatts of power reserves this winter to avoid an “unacceptable” risk of an emergency in extreme conditions. The Electric Reliability Council of Texas estimates that there is an almost …
Workers’ compensation insurers continue to stow away more money than necessary in reserves, even as reported loss ratios continue to climb, according to a report released Wednesday by the National Council on Compensation Insurance. Coincidentally, also on Wednesday, A.M. Best …
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’ …
General Electric Co. has “very high” exposure to the long-term care insurance market and is worse than average when it comes to the adequacy of reserves tied to those policies, according to Fitch Ratings. Genworth Financial Inc., which was spun …
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 …
Bailed-out insurer American International Group is unlikely to add to reserves in the current quarter, though investors may not be convinced the reserves are adequate, Barclays Capital said Tuesday. Barclays analyst Jay Gelb, in a note to clients, said he …