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Search resuls for: "Leslie Scism"


5 mentions found


☆ Allstate Loss Highlights Struggles Among Insurers
  + stars: | 2022-10-20 | by ( Leslie Scism | ) www.wsj.com   time to read: 1 min
The nation’s biggest car insurers, struggling with high inflation and mounting accidents, are now facing losses from vehicles submerged by flooding from Hurricane Ian. The inflation pressures prompted Allstate to say Wednesday it would take an $875 million charge to bolster its claims reserves in its coming third-quarter earnings, mostly tied to its auto-insurance business. Allstate, which is a top-five car and home insurer by premium volume, took a $408 million inflation-related charge in the second quarter.
☆ What Is a Medicare Advantage Plan, and Should You Sign Up for One?
  + stars: | 2022-10-14 | by ( Alex Janin | Leslie Scism | ) www.wsj.com   time to read: 1 min
The health-plan decisions you make when you become eligible at age 65 could have future health and financial implications. You’re about to be awash in ads for Medicare Advantage plans, the private alternative to traditional Medicare. Evaluating the options can be challenging, but there are steps you can follow to make the best decision for yourself. Medicare’s open enrollment period runs from Oct. 15 through Dec. 7. Sometimes called “Part C,” Medicare Advantage plans are offered by Medicare-approved private companies.
☆ Hurricane Ian Is Latest Blow to Florida’s Struggling Home Insurers
  + stars: | 2022-09-28 | by ( Leslie Scism | ) www.wsj.com   time to read: 1 min
Hurricane Ian will be a serious test of Florida’s unusual home-insurance market, where dozens of small to midsize carriers and a state-run insurer of last resort play a leading role in paying claims. These relatively obscure private-sector insurers and the rapidly growing state-run carrier are backed up by reinsurance companies. There is enough coverage available to handle claims, even if Hurricane Ian lands in Tampa, officials said. But insurers could be hurt by a wave of lawsuits driving up their costs, or by another increase in premium rates charged by reinsurers.
☆ Insurance Broker Marsh & McLennan Names New CEO
  + stars: | 2022-09-26 | by ( Leslie Scism | ) www.wsj.com   time to read: 1 min
Insurance broker and benefits firm Marsh & McLennan said Chief Executive Officer Daniel S. Glaser will retire at the end of the year and Chief Operating Officer John Q. Doyle will succeed him. Mr. Doyle’s promotion to the top job mimics Mr. Glaser’s own path back in September 2012. Then, Mr. Glaser, the chief operating officer, was named CEO. Mr. Doyle, who is 58, will take over from Mr. Glaser, now 62.
☆ Rising Rates Make Life Insurance Funded With Debt More Costly
  + stars: | 2022-09-22 | by ( Leslie Scism | ) www.wsj.com   time to read: 1 min
Rising interest rates and a falling stock market are putting new pressure on a popular strategy of borrowing to fund the purchase of multimillion-dollar life-insurance policies. Even before rates started to rise, consumers were being forced to make big payments when strategies failed to deliver the promised returns. Many sued their agents and insurers.
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