Insurance industry is suffering from the impact of climate change

Insurance Industry - Climate Change loss

According to a new Capgemini report, only about 8 percent of insurers are adequately preparing. Climate change has been causing harm to the insurance industry, but only about 8 percent of insurers are adequately preparing for the impact of its risks, according to a report published by Capgemini consultants and the Efma industry body. Losses from natural disasters have exploded by 250 percent over the last three decades. The report stated that over the last thirty years, insured natural catastrophe losses have risen by a tremendous 250 percent. Severe storms…

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Insurance industry official calls for more climate change risk assessment

Insurance industry - Risk Assessment Climate Change

At the same time, the III CEO said that what is not needed is for politics to get in the way. Insurance Information Institute (III) CEO Sean Kevelighan has said that it’s time for the insurance industry to focus on assessing climate risk while putting aside politics that stand in the way of assisting communities most vulnerable to those risks. The non-profit III has a focus on public education and outreach with over 60 insurer members. The III, also known as Triple-I, has been working hard to educate and support…

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State Farm holds virtual career fair for insurance jobs with the company

Insurance jobs - keyboard - Jobs key

The positions to be filled include both hybrid and 100% work-from-home opportunities. State Farm has announced that it has so many insurance jobs available that it is holding a virtual career air this week with both full- and part-time opportunities available. Positions also include bilingual opportunities in underwriting in hybrid and remote working locations. The insurance jobs will be discussed during four different time slots on Thursday. This is a substantial opportunity for people across the country who have recently lost – or left – prior employment. Insurers have been…

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16 More insurance companies file lawsuits against Pacific Power

Insurance companies - Lawsuit filed

The joint lawsuit against the utility and its parent company PacifiCorp is connected to the Archie Creek Fire. An additional 16 insurance companies have filed a joint lawsuit against PacifiCorp as well as Pacific Power, its subsidiary, for reasons relating to damages caused by the Archie Creek Fire. The lawsuit was filed by the insurers on January 5 in the Douglas County Circuit Court. The insurance companies are pursuing a combined $14.2 million from the electric utility and its subsidiary. The 16 insurers are based in eight different states, including…

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Mercury General Corporation names Victor Joseph Executive Vice President and COO

Mercury General Corporation - Job Promotion

The company has called this a positive step forward “for a strong and vibrant future”. Mercury General Corporation (NYSE stock symbol MCY) recently announced that it has named Victor Joseph as its Executive Vice President and Chief Operating Officer (EVP & COO). The position was newly created, and Joseph will become the first to hold the title. Joseph will take this new position at Mercury General Corporation as of the start of next year. He was chosen to start with this newly created title on January 1, 2022, as an…

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Progressive plans to create more up to 6,400 insurance jobs

Insurance jobs - hiring sign

The insurer plans to hire thousands of new employees before the year comes to a close. Progressive has announced new insurance jobs with its intention to hire as many as 6,400 new employees during the second half of 2021 in order to support the insurer’s growth and plans to continue doing so. During 2020, Progressive’s total revenues broke the $42 billion mark as it gained market share. The market share held by Progressive continued rising throughout last year as it built up its customer base. Now, it plans to add…

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Network of Employers for Traffic Safety adds State Farm Insurance to board

Network of Employers for Traffic Safety - office - conference room

The NETS has announced that the insurer has joined the Board of Directors. The Network of Employers for Traffic Safety (NETS) has announced that State Farm Insurance has now been added to its Board of Directors. Two representatives from the insurer have been added to the NETS Board of Directors. “The Board of Directors welcomes State Farm Board representatives Scott Winn, Small Business Insurance Loss Control Administrator, and Liz Pulver, Transportation Safety Research Senior Program Manager, to NETS,” read a statement from Network of Employers for Traffic Safety Board Chair…

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