The Los Angeles wildfires are projected to result in $20 billion in insurance losses, prompting reinsurance recoveries for some carriers as analysts assess exposure across property and auto lines.
California’s Palisades Fire has consumed thousands of acres and homes, with high winds complicating firefighting efforts. Federal aid and state resources aim to assist affected residents.
Discover the top claims and risk management trends for 2025, including AI-driven solutions, cyber insurance evolution, wearables in the workplace, and enhanced catastrophe response.
Southern California faces extreme fire conditions fueled by hurricane-force winds, forcing mass evacuations and widespread power outages, with no immediate relief in sight.
Presenters at Triple-I’s Joint Industry Forum spotlighted how granular data, innovative insurance products, and consumer education are closing climate-related protection gaps.
Recent tragedies highlight the dangers of illegal fireworks in Hawaii, leading officials and residents to debate stronger enforcement measures and cultural traditions.
Severe storms from December 26–29, 2024, caused extensive tornado damage across 10 Southern states, generating over 2,700 insurance claims and highlighting a rising trend in extreme weather events.
Flooding caused 78% of global catastrophe losses in 2024, totaling $18.2 billion. CRESTA integrates its loss index into PERILS for streamlined reporting starting January 2025.
California introduces new regulations requiring insurers to increase home coverage in wildfire-prone areas, aiming to stabilize the insurance market and support homeowners.
Insurers must embrace innovative technologies and business models to address emerging risks, close protection gaps, and adapt to a rapidly evolving market landscape.
As climate-driven disasters increase, nonrenewed home insurance policies are surging nationwide, impacting property values, mortgages, and economic stability in vulnerable communities.
Oregon lawmakers plan to introduce legislation preventing utility rate hikes while lawsuits related to the 2020 wildfires remain unresolved, targeting accountability for PacifiCorp.
Catastrophe bonds reached a record $17.7 billion in issuance for 2024, as insurers turn to private investors to manage growing climate-related risks and rising rebuilding costs.
