Industry News
AXA CEO Says Prevention Needed to Keep Home Insurance Affordable
A leading insurance executive said the best way to keep price increases in check for property insurance in regions exposed to climate change is to mitigate the impact of natural disasters. Prevention ...
Natural Coastal Habitats Can Reduce Flood Losses: Swiss Re
Natural coastal habitats such as coral reefs, mangrove swamps and salt marshes can provide significant protection against lower-severity storms and help reduce flood losses, according to a recent ...
Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single ...
Lemonade CEO Declares ‘Best Quarter Ever,’ Posts Narrowed Q4 Loss of $30M
InsurTech Lemonade reported a fourth-quarter 2024 net loss of about $30 million and a loss for the year of about $202.2 million. Results were in comparison to a net loss of $42.4 million for ...
S&P Puts State Farm General Ratings on CreditWatch
Potential downgrades of State Farm's California homeowners insurer came closer to reality when S&P Global Ratings put the "AA" financial strength and issuer credit ratings of State Farm General ...
Business Continuity Plans Lacking Among SMBs: Nationwide Survey
Mid- and small-market businesses (SMBs) face a lot of the same big-picture challenges, but how they prioritize risk, spending and solutions varies widely. According to Nationwide's latest risk ...
Claims Service, Tech, Communication Top Independent Agent Concerns
Claims, communication, and technology round out the top three concerns for independent agents when placing new business with a carrier, according to InsurTech firm Vertafore. The findings were the ...
Millennials, Gen Z Embrace AI-Driven P&C Products: Survey
A new "AI in Insurance Report" identifies the generational differences when it comes to artificial intelligence acceptance, according to cloud-based software provider Insurity. The findings of the ...