Industry News
A Once-Quiet Florida County Is Now a Hurricane Magnet — and Forecasters Are Puzzled
For more than a century, Florida's Taylor County saw the fewest hurricane strikes of any place on the U.S. Gulf Coast. In the last year, that peace has been shattered. Helene, which has killed more ...
Human Assistance Still Top Choice for Insurance Advice, While AI Interest Rises
While 88 percent of respondents prefer human assistance for insurance advice, interest in AI is rising as people look for simpler solutions, according to a survey released by UserTesting, an SaaS ...
AccuWeather Raises Helene Total Damage Estimates by $50B; Insured Loss Estimates Not Ready
While inland flooding complicates the picture of still-to-be-determined insured loss estimates from Hurricane Helene, a weather forecasting firm has already delivered a second estimate of total ...
Roots Automation Closes $22.2M Series B Funding Round
Roots Automation, creator of the AI-powered Digital Coworker and InsurGPT, a generative AI model for insurance, announced the closing of a $22.2 million Series B funding round. Harbert Growth ...
Marsh McLennan to Buy TIH’s McGriff Insurance for $7.75B
Marsh McLennan says it has a deal in place to acquire McGriff Insurance Services for $7.75 billion, funded by cash and debt financing. U.S. retail broker McGriff, an affiliate of private ...
Hurricane Helene Kills at Least 90, Leaves Destruction in Its Wake
The Southeastern U.S. began a huge cleanup and recovery effort on Sunday and the death toll climbed towards 100 after Hurricane Helene knocked out power for millions, destroyed roads and bridges and ...
Primary Insurers Will Absorb $5B+ Hurricane Helene Losses: Rating Agencies
In initial commentaries released a day after Hurricane Helene made U.S. landfall, AM Best and Fitch Ratings both pegged insurance industry loss totals at at least $5 billion, indicating that primary ...
Personal Auto Insurance Could Be Obsolete in 20 Years: Morningstar
Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate scenario forecasts the line ...