News
Thanks to AI, Industry Will Soon See Big Jump in Parametric Insurance, Consultant Says
Insurance agents must now embrace the use of artificial intelligence, but they won't be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines ...
Number of Companies Setting Climate Transition Plans Jumps 44% in 2023: Research
The number of companies saying they have a climate transition plan in line with the world's most ambitious goal has jumped by nearly half, but many do not give investors enough information to check ...
Picture an experienced underwriter who’s spent 30 years building carrier relationships, spotting risks others miss, and mentoring producers. Over the...
Study: Using 3D Visualization to Predict, Prevent Hurricane Damage
A new study shows how 3D visualization provides a greater understanding of how flooding, as a result of hurricanes and storm surges, could impact coastal communities by allowing researchers to ...
Florida Homeowners Insurer of Last Resort Proposes 13.5% Rate Hike for 2025
Citizens Property Insurance has asked its corporate board to approve a recommendation for a 2025 rate increase. The insurer of last resort in Florida says the rate package is necessary due to recent ...
GM’s Cruise Unit to Receive Hefty Penalty for Delaying Report on California Accident
A California regulator said on Thursday it is imposing the maximum penalty possible on General Motors' Cruise unit for its failure to promptly provide complete information to the commission about an ...
Risky Driving Behavior, Advanced Tech Led to Higher Claim Frequencies in Auto
The auto insurance market is seeing higher claims frequency, in part, due to increasingly risky driving behavior and greater EV adoption which comes with expensive advanced technology, according to ...
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses ...
As Premiums Decline, Pricing Softens for U.S. D&O Liability Insurance
Better underwriting results in the U.S. directors & officers (D&O) liability line "will likely add downward pressure on rates amid decreased demand in the segment", according to a new AM Best ...