The insurance industry is ripe with innovation, but the overuse of vague buzzwords like "transformation" and "disruption" dilutes meaningful progress. A call for precise and straightforward communication can better serve clients, investors, and the industry itself.
Conflicting federal policies hinder communities from accessing vital dam failure data, potentially raising flood insurance costs and leaving residents unaware of flood risks.
Resilience’s midyear 2024 report reveals ransomware as the leading cause of cyber losses, with a sharp increase in the severity of claims, largely driven by third-party risks and vendor failures.
As vessels grow in size and complexity, the global marine insurance market faces heightened risks, leading to increased volatility and the need for long-term strategies to manage major losses.
The Carmack Amendment has long served as a legal foundation for freight claims in the U.S., but evolving logistics and e-commerce trends challenge its relevance, necessitating fresh strategies for claims professionals.
A DeepSky Research report predicts a 300% rise in extreme hurricane rainfall frequency and a 33% increase in severity, highlighting the urgent need for preparedness as hurricane impacts are expected to worsen rapidly.
AI is transforming agricultural insurance by enhancing risk management, improving claims processing, and optimizing resource use, benefiting both insurers and growers in an increasingly volatile climate.
Nationwide’s 16th annual Hambone Award highlights bizarre pet incidents like a puzzle-eating pup and a toenail-tangled parrot, with voting open through August 22, 2024, to determine the most unusual pet insurance claim.
Lawmakers are questioning health insurance regulators and MultiPlan’s role in reducing payments to medical providers, which may lead to higher costs for patients and employers, raising concerns about transparency and potential conflicts of interest.
After years of litigation, a Massachusetts court ruled against AMAG Pharmaceuticals, rejecting its claim for insurance coverage related to a 2017 manufacturing issue at Pfizer’s Kansas facility that led to significant business losses.
The unexpected flash flooding in Connecticut resulted from a weather phenomenon known as training, where storm cells repeatedly formed over the same area.
Car insurance premiums have soared by an average of 26% in 2024, driven by inflation, costly car repairs, and rising accident rates. States like New Jersey and Missouri saw the highest hikes, with more increases expected.
The growing use of AI, while beneficial, increases the risk of cyber event aggregation through expanded attack surfaces, data exposure, and software supply chain vulnerabilities, according to Guy Carpenter.
Leaders must adapt to the growing presence of Gen Z in the workforce by recognizing their unique values, such as work-life balance, career growth, and diversity, to attract and retain top talent.
As vertical integration rises in healthcare, workers’ compensation professionals must navigate increased medical management costs and explore data-driven strategies to ensure favorable claim outcomes.
