Welcome to our dedicated page for QBE Insurance Group news (Ticker: QBIEY), a resource for investors and traders seeking the latest updates and insights on QBE Insurance Group stock.
QBE Insurance GP S/ADR (QBIEY) is a global insurance leader that helps customers solve unique risks, allowing them to focus on their future. Part of QBE Insurance Group Limited, QBE North America operates out of 27 countries, offering a variety of insurance products and solutions for businesses and individuals. With a strong commitment to service and technical expertise, QBE North America aims to identify, evaluate, and reduce potential losses and business risks for its customers. The company reported Gross Written Premiums of $5 billion in the first half of 2023 and continues to expand its presence in key insurance markets worldwide.
QBE North America has released its 2024 Commercial Construction Risk Report, identifying key challenges in the industry, including cybersecurity threats, financial issues, and labor shortages. The report is based on a survey of 500 commercial general contractors and construction managers. Key findings indicate 42% of respondents see cybersecurity as the top risk, followed by cost overruns (35%) and high interest rates (33%). Additionally, 40% highlighted owner contract disputes as primary cost overrun factors. The industry is adopting new technology to improve safety and efficiency, yet cyber threats are increasing. The labor shortage is significantly impacting trades like electrical and HVAC. Nearly half of the respondents plan to enhance their safety plans over the next year, emphasizing the need for better and more frequent risk management training.
In a press release, QBE North America highlights the five key benefits of captives in healthcare strategies. Captives are specialized insurance subsidiaries that help companies manage risks effectively and economically. QBE North America emphasizes that captives allow employers to reduce costs, enhance risk management, customize coverage, utilize finances efficiently, and leverage negotiations with carriers and service providers. The company specializes in underwriting single-parent and group captives for various sectors.
QBE North America has launched a specialized Healthcare Liability practice aimed at meeting the unique needs of healthcare organizations. The practice includes a dedicated team and core products to help customers manage risks and foster resilience. The flagship product, Miscellaneous Medical Liability, offers a wide range of coverages to provide tailored solutions to clients.
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