Industry News
AccuWeather: Severe Storms in Central US Cause $80-$90B in Damages, Economic Loss
A multiday severe weather outbreak in the central U.S. caused an estimated $80 billion to $90 billion in total damage and economic loss, according to a preliminary estimate from AccuWeather. From ...
Insurance Industry Contemplates Knock-On Effect of Tariffs to Claims, Consumers
Insurance industry analysts, economists and trade associations have continued to look at the potential effect of President Donald Trump's tariffs. About a month after Trump looked to impose steep ...
Forms are the foundation of every insurance product. So why does managing them still feel like the slowest part of...
Verisk Buy of Nasdaq Subsidiary Gains Access to Hundreds of Catastrophe Models
Verisk said it has acquired Nasdaq subsidiary Simplitium Limited, the owner and operator of Nasdaq Risk Modelling for Catastrophes (NRMC). NRMC is a software-as-a-service platform that supports an ...
No Comment: Berkshire’s Buffett Not Opining on Tariffs, Economy Yet
As the stock market reeled Friday from President Donald Trump's move to institute widespread global tariffs, Trump shared a video on Truth Social that erroneously claimed legendary investor Warren ...
Fraud Coalition Opposes Texas Bill Mandating Auto Insurance Payout When Insured is Unresponsive
New legislation introduced in Texas by Senator Mayes Middleton mandates insurers issue payments on auto policies even if policyholders have been unresponsive. The Coalition Against Insurance Fraud ...
Buyer-Friendly April Reinsurance Renewal Bodes Well for Mid-Year Renewals: Brokers
The April reinsurance renewals saw a competitive, buyer-friendly market with plentiful capacity and price reductions for loss-free accounts – in a continuation of the favorable market conditions ...
Majority of Small Biz Leaders Think AI Will Play ‘Crucial Role’ in Work Safety
More than half of small business leaders believe artificial intelligence will play a "crucial role" in worker safety over the next five years, according to a new report from Pie Insurance. A survey ...
$1 Trillion! 2024 P/C Industry Direct Premiums At Record Level
An industrywide direct written premium total of $1.05 trillion in 2024 marked the first time in the history of the industry that U.S. property/casualty insurer premiums eclipsed $1 trillion, ...