Markets
High Demand for Gen AI Insurance; Buyers Say They’ll Pay More: Report
A new survey of corporate insurance buyers reveals widespread interest in buying insurance to cover Gen AI risks—and a willingness to pay up 10-20 percent more in organization-wide insurance ...
WTW Offers Parametric Insurance With Weather-Warning Trigger
Willis, a business of WTW, announced the launch of a parametric policy that is activated automatically when a red weather warning is issued by the UK Met Office or Met Éireann, the Irish National ...
Florida’s Citizens Is Deferring Flood Coverage Proof While NFIP Is Shut Down
Florida's Citizens Property Insurance Corp. is deferring the required proof of flood insurance while the federal government shutdown continues and the National Flood Insurance Program is in limbo. ...
IBHS Study Shows Smaller Hail May Be More Damaging to Roofs Than Once Believed
A study by the Insurance Institute for Business and Home Safety (IBHS) found roof damage from smaller hailstones may be much more significant than previously believed. It's a finding that one ...
Reimagining Homeowners Insurance in the AI-Powered Claims Era
Historically, the insurance claims process was built on paper files, and that infrastructure has not fundamentally changed in more than 100 years. It's long overdue for a refresher. Even as carriers ...
California Department of Insurance May Revoke Tesla Insurance Licenses
Elon Musk once promised that the "nightmare" experience of auto accident claimants would turn into a dream with Tesla Insurance. It hasn't, according to California's insurance regulator. Alleging ...
Civil Rights Agency Drops a Key Tool Used to Investigate Workplace Discrimination
The U.S. civil rights agency responsible for enforcing worker rights will stop investigating complaints about company policies that don't explicitly discriminate but may ...
Bigger Piece of the Pie: Surplus Lines Market Hits New Record
Whatever line of business, the surplus lines industry continues to play a critical and more prominent role in the property/casualty market. "It's pretty incredible to have watched what the E&S ...