Remote Work Revisions and Hiring Trends in Commercial Insurance
Remote Work Policies in Flux Again; Insurers Aim at Litigation Funding
- Four years after the pandemic changed where and how we work, we are still trying to make sense of the best way to do it.?Nationwide?is?revising?its in-office work mandate for certain employees who work near its corporate HQ in Columbus, Ohio.
The?Fortune 100?company is telling an unspecified number of workers that they will be expected to be on site more frequently next year, the?Columbus Business First?reported this week.
Nationwide has been one of the industry's biggest supporters of remote work in the P&C insurance industry. But it is unlikely to be the last firm to rethink its policy. Almost 80% of CEOs now say they?expect?employees to fully return to the office in the next three years, according to a recent KPMG survey. That's a dramatic increase, up from about one-third of CEOs earlier this year. Just 17% of CEOs now envision a hybrid workplace over the long term (down from nearly half earlier in the year) and just 4% expect the future to be fully remote.
- Wherever they may end up working, insurers are on the hunt for more employees. The number of open jobs at 15 large commercial insurers?jumped?by nearly 33% between February and October. Top 10 U.S. commercial insurers?AIG,?The Hartford?and?Zurich?ranked among the carriers with the highest percentage increases in openings.
- Insurers are trying to take action to stem the rising tide of nuclear verdicts. This week?Liberty Mutual,?Chubb?and other notable commercial insurers have?asked?the administrator of U.S. federal courts to require the naming of third-party financial companies who are taking a stake in a potential favorable jury verdict by funding injury lawsuits.
- Hurricane season stressing you out? We took a look this week at which firms had the?most?(and least) stressed employees.
- Big U.S. commercial insurers made their presence known in a new?ranking?of the world's Top 50 P&C carriers based on premium revenue.
Among the companies in the annual listing from?S&P Global Market Intelligence, 44% are U.S.-based business/specialty insurers. The table below is a snapshot from the full table.
Table of the week
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