GAO Urges Changes to NFIP as Study Highlights Potential $27B Shortfall
FEMA's National Flood Insurance Program (NFIP) substantially improved ratemaking by implementing Risk Rating 2.0 in 2021, but the program faces a potentially significant ...
Industry News
Employee Retention Top Operational Goal for Businesses: Study
More than half of U.S. employers (51 percent) reported a turnover rate of at least 15 percent in 2022, up three points from 48 percent in 2021, according to Gallagher's 2023 U.S. Organizational ...
Auto Insurance Premiums Rise 17 Percent in H1 of 2023: Report
Car insurance premiums are skyrocketing primarily due to rising auto parts costs and extreme weather, according to virtual insurance agent platform Insurify's Q3 2023 Mid-Year Auto Insurance Trends ...
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and ...
Global Natural Disasters Cost Insurers $43B in H1, Surpassing 10-Yr Average: Munich Re
Natural disasters during the first half of 2023 cost insurers an estimated $43 billion with an overall economic price tag of $110 billion, according to Munich Re.
Global commercial insurance pricing rose 3 percent in the second quarter of 2023, down from 4 percent in Q1, according to Marsh, which pointed to two notable trends ...
Tech Bytes: New Partnerships at ZestyAI, Ascend
ZestyAI, a provider of climate and property risk analytics solutions powered by artificial intelligence, announced an agreement with Coterie Insurance, a partnership-focused managing general agent, ...
Fitch: Financial Performance Influenced by P&C Company Ownership Structures
Balance sheet risks and financial performance vary depending upon property and casualty insurers' ownership structure, according to a special report by Fitch Ratings. Material differences in ...
Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh
New Ethical AI Consortium Launched
Three digital technology providers announced the launch of the Ethical AI in Insurance Consortium as a means to help guide the insurance industry toward a responsible and ethical future using AI. ...
Catastrophe Losses Cause CNA Financial to Miss Q2 Profit Estimates
Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty segment partially offset higher investment income. Profits at insurers ...