Key Barriers to Closing the Insurance Protection Gap Identified in Industry Poll
A recent poll highlights the biggest obstacles to addressing the global insurance protection gap, with conflicting priorities, data gaps, and regulatory issues emerging as major challenges.
March 7
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
California
AI Enhances Storm Risk Assessment for More Accurate Insurance Pricing
Traditional models for assessing severe convective storm risk rely on broad proxies like ZIP codes and roof age. AI-driven property-specific models offer insurers a more precise approach.
March 7
Insurance Industry
Property
Risk Management
Technology
Insurers Pay Nearly $7 Billion for Los Angeles County Wildfire Claims
Over 33,000 insurance claims have been filed following the Los Angeles County wildfires, with insurers paying $6.9 billion to date. California’s insurance commissioner has issued orders to expedite claim payments and prevent policy cancellations.
March 7
Catastrophe
Legislation & Regulation
Property
Risk Management
California
Lloyd’s Warns of Extreme Space Weather Risks With $2.4 Trillion Economic Impact Projection
A new Lloyd’s systemic risk scenario reveals that a hypothetical extreme solar storm could result in a global economic loss of $2.4 trillion over five years.
March 5
Insurance Industry
Property
Risk Management
Technology
Organized Train Heists Targeting Nike Sneakers in California and Arizona Continue
Thieves have stolen nearly $2 million worth of Nike sneakers from BNSF trains in California and Arizona in a series of well-coordinated heists since last March. Despite multiple arrests, including a suspected ringleader, the thefts persist.
March 5
Fraud
Litigation
Property
Risk Management
Arizona
California
Texas Beekeepers Face Unprecedented Losses as Bee Populations Plummet
Texas beekeepers have lost nearly two-thirds of their honey bee colonies, threatening pollination services and increasing produce costs. Experts cite multiple factors but lack a clear cause.
March 5
Insurance Industry
Legislation & Regulation
Property
Risk Management
Texas
Florida’s Insurance Market Faces Shake-Up as Lawmakers Tackle Rising Costs
With soaring premiums and industry instability, Florida lawmakers are pushing for reforms in home and auto insurance. Transparency, incentives, and technology may offer relief, but challenges remain.
March 5
Auto
Legislation & Regulation
Property
Technology
Florida
Insurance Industry Grapples with Escalating Natural Disaster Risks
As extreme weather events grow in frequency and severity, insurers must adapt through innovation, risk modeling, and new risk transfer strategies to remain viable.
March 5
Catastrophe
Legislation & Regulation
Property
Risk Management
California
Georgia Court Rules in Favor of Injured Worker Despite Prior Medical Misrepresentation
A Georgia appellate court ruled that an employer cannot use a worker’s prior undisclosed injury against them if the employer knowingly continued their employment before a subsequent workplace injury occurred.
March 4
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
Georgia
Firefighter Indicted for Alleged Workers’ Compensation Fraud
An Ohio firefighter has been indicted on charges of workers’ compensation fraud and theft, accused of unlawfully obtaining benefits between January and February 2022.
March 4
Fraud
Insurance Industry
Litigation
Workers' Compensation
Ohio
Insurance Fraud Surges in Canada, Hitting Auto Repair Shops Hard
Fraud investigations in Canada jumped 76% in 2024, with auto-related scams making up 67% of cases. Staged crashes, AI-powered fraud, and stolen vehicle scams are straining repair shops.
March 4
Auto
Fraud
Insurance Industry
Risk Management
Florida Insurance Market Strengthens as Legal Reforms Curb Costs
Legislative reforms targeting legal system abuse and claim fraud are improving Florida’s insurance market, reducing litigation, attracting insurers, and slowing premium increases.
March 4
Insurance Industry
Legislation & Regulation
Litigation
Property
Florida
AI-Powered Fraud Is Reshaping Insurance—Are Insurers Keeping Up?
Artificial intelligence is revolutionizing fraud detection in insurance, but as fraudsters adopt AI-driven tactics, the industry faces an escalating arms race. Insurers that fail to invest in AI risk being outpaced by increasingly sophisticated fraud schemes.
March 3
Fraud
Insurance Industry
Litigation
Technology
Former New Orleans Officer and Nevada Attorney Accused in Insurance Fraud Scheme
A former police officer and current attorney is accused of orchestrating an insurance fraud scheme involving inflated art valuations and false police reports.
March 3
Fraud
Insurance Industry
Liability
Litigation
California
Louisiana
Nevada
Insurance Industry Trends and Challenges Through 2040
A global survey of over 500 insurance executives reveals how AI, climate risks, cybersecurity, and evolving market dynamics are shaping the industry’s future through 2040.
March 3
Insurance Industry
Risk Management
Technology
