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Insurance coverage is under written by one or more member companies of Arch Insurance Group in North America, which consists of (1) Arch Insurance Company (a Missouri corporation, NAIC 11150) with admitted assets of $3.62 billion, total liabilities of $2.74 billion and surplus to policyholders of $875.31 million, (2) Arch
Specialty Insurance Company (a Missouri corporation, NAIC #21199) with admitted assets of $515.45 million, total liabilities of $215.49 million and surplus to policyholders of $299.96 million, ( 3) Arch Excess & Surplus Insurance Company (a Missouri corporation, NAIC 10946) with admitted assets of $65.14 million, total liabilities
of $328,448 and surplus to policyholders of $64.82 million and ( 4) Arch Indemnity Insurance Company (a Missouri corporation, NAIC# 30830) with admitted assets of $62.28 million, total liabilities of $35.63 million and surplus to policyholders of $27.05 million. All figures are as shown in each entity’s respective Quarterly Statement
for the quarter ended June 30, 2016. Executive offices are located at One Liberty Plaza, New York, NY 10006. Not all insurance coverages or products are available in all jurisdictions. Coverage is subject to actual policy language. This information is intended for use by licensed insurance producers. © Arch Insurance Group 2018
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Several reports on the changing nature of work and the future of jobs conclude that plentiful employment will
Fear Not the
continue for (injury prone) humans
despite the continuing adoption of AI,
robotics and other automation.
Technology might even generate
more jobs than it eliminates by fueling
productivity gains and economic
expansion, although many workers
will need to shift work paths amid the
coming major transitions.
Keeping the economy healthy and
the labor force employed as technology
advances will also require greater
investment in education and retraining
programs for displaced workers.
Unfortunately, retraining workers
is something at which neither the U.S.
government nor the private sector
excel. Job training certainly isn’t a
current national priority.
Overall though, growing concern
over the existence of future jobs given
automation’s impact may be unfounded,
according to a December 2017
McKinsey & Company report titled
“Jobs Lost, Jobs Gained: Workforce
McKinsey forecasts that by 2030,
about 9 percent of labor demand will
come from occupations that don’t
exist today. According to research and
advisory firm Gartner, AI will create 2
million net new jobs by 2025.