Ogden cut to wipe £50m off Traveler's Q1 2017 results
Travelers expects to record an increase to prior year loss reserves of approximately $62m (£50m) in Q1 2017 as a result of changes to the Ogden discount rate.
The group said the loss relates primarily to its public liability and commercial auto liability lines of business in the United Kingdom.
Approximately two-thirds of the impact comes from certain
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Conflict-driven construction costs widen underinsurance gap
The latest BCIS data highlights how cost volatility can affect reinstatement differently from new build, leaving static sums insured increasingly vulnerable to underinsurance.
Diary of an Insurer: Sedgwick’s Hugh Kennaway
From policing London's streets to handling complex global energy claims and championing the international growth of the loss adjusting profession, Hugh Kennaway, past president of the Chartered Institute of Loss Adjusters, plus managing director and global head of downstream energy at Sedgwick, has a nonstop week.
Insurance needs to tap into agentic AI to evolve
Insurers should begin implementing agentic AI to help remove friction along the claims journey to save costs and better serve clients
Winners of the Insurance Post Claims and Fraud Awards 2026 revealed
Aviva, Bamboo Connect, DWF Law and DAC Beachcroft were all multiple winners at the Insurance Post Claims and Fraud Awards held last night (1 October) at The Brewery in London.
Court ruling puts focus on D&O risks of board secrecy
The Supreme Court’s Saxon Woods ruling highlights how covert boardroom dissent can translate into personal directors and officers (D&O) insurance exposure, according to Sam Cornelius, lead management liability underwriter at Rrelentless.
Scottish broker awaiting embezzlement trial
The Financial Conduct Authority has secured a bankruptcy order against Arthur Temlett, trading as Abacus Insurance Consultants.
Why claims professionals must show their value in the age of AI
Trade Voice: John Bissell, executive director of Chartered Institute of Loss Adjusters, argues that as artificial intelligence helps policyholders challenge claims decisions, loss adjusters must respond by demonstrating clearer judgement, communication and value.
Ex-Intact counter fraud director Sumner launches consultancy
Adele Sumner, former director of counter fraud and financial crime at Intact Insurance, has announced the launch of Sumner Fraud Consulting.