Moody’s reports that Hurricane Milton, which struck Florida as a Category 3 storm, will likely impact both primary insurers and reinsurers, with ceded losses increasing as total damages rise.

Improved underwriting results for personal lines in the first half of 2024 have reduced the performance gap with commercial lines, driven by premium growth in personal auto and homeowners insurance.

Florida officials are cautioning residents about the potential fire hazards posed by lithium-ion batteries in EVs and other devices, urging proactive steps to prevent accidents as Hurricane Milton approaches.

Artificial intelligence is revolutionizing insurance pricing by enhancing risk assessment, personalizing premiums, and improving operational efficiency, though significant challenges remain in infrastructure, data quality, and compliance.

Generative AI is moving beyond enhancing efficiency for insurance professionals. It now holds potential for transforming risk management, customer interaction, and even product offerings.

The Casualty Actuarial Society has released four new reports that explore bias in insurance pricing models, AI usage, and regulatory concerns, aiming to guide actuaries toward fairness and compliance.

COVID-era worker activity monitoring tools have evolved into sophisticated AI data generators, helping insurers tackle rising repair costs, litigation, and labor shortages while improving operational efficiency.

Insurers and defense attorneys are increasingly turning to RICO lawsuits to fight fraudulent personal injury claims, with recent cases in Florida and New York highlighting the growing trend of staged accident schemes.

U.S. commercial insurance rates rose by 5.9% in Q2 2024, with notable hikes in excess liability and commercial auto, while workers’ comp, cyber, and D&O liability saw price decreases.

American Transit Insurance Co., a key insurer for NYC taxis and rideshare vehicles, faces insolvency, risking disruption for tens of thousands of drivers as regulators consider intervention.

The owner of multiple towing companies in San Francisco has been charged again with federal insurance fraud, involving staged crashes and fraudulent claims, just weeks after a similar case was filed.

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.

A Toronto resident has been arrested and faces more than 100 charges in connection with an extensive auto fraud and reVINing scheme. Police warn potential buyers to check vehicle history reports carefully.

In Q2 2024, U.S. and Canadian collision claims for electric vehicles saw significant increases, despite a downturn in EV sales. Hybrid vehicles also experienced rising claims frequency, highlighting shifting market dynamics.

A Visalia taco truck owner has been arrested for staging a robbery and arson in an attempt to defraud insurance companies. Surveillance footage and a linked accomplice led authorities to uncover the plot, resulting in charges of conspiracy, arson, and insurance fraud.