The Florida Legislature has approved the "Insurer Accountability" Act, which is slated to come into effect on July 1, 2023. This new law introduces comprehensive insurance coverage and claims handling standards for insurance companies operating in the state. Moreover, it empowers the Office of Insurance Regulation (OIR) with expanded regulatory authority over the insurance industry.

In recent years, the concept of the metaverse has gained significant attention as a potential game-changer in the way we interact with digital content and each other. Metaverse technology is being hailed as the next frontier in the evolution of the internet, with its potential applications ranging from gaming and entertainment to education, e-commerce and even insurance.

For nearly a decade, Denise Hancock always turned to a broker to find competitively priced home insurance. So when her insurer, United Property and Casualty, went under earlier this year, Hancock appealed to her longtime agent.

Uncertainty spawned by the debt ceiling debate will likely exacerbate the replacement cost inflation that has been putting upward pressure on property/casualty insurers' loss ratios -- and, ultimately, consumers' premium rates, according to Triple-I's chief economist.

For over a decade, we have pretended to be paperless. We tout the fact that the file cabinets, the seven-part specialized file folders and massive mail rooms have all been eliminated and reduced, and we claim we are paperless. But we know we aren't. Today's paper is PDFs, Excels and Adobe.

Climate-driven floods, hurricanes, wildfires and heat waves cause billions of dollars of damage every year in the United States. Federal scientists hope that better access to climate data will help one industry adapt: property insurers.

The Insurance Industry Charitable Foundation (IICF) will host its Inclusion in Insurance Global Conference June 13-15 at the New York Hilton Midtown.

In an emergency financial maneuver, the state-chartered insurance associations of Florida and Louisiana have been forced to borrow a combined $1.3 billion to cover insurance claims caused by worsening hurricanes.

From skyrocketing premium growth to the ever-increasing adoption of artificial intelligence to wondering which storm will be the next multi-billion-dollar weather event, the property/casualty (P&C) insurance industry continues to face steep challenges in 2023.

This executive briefing looks at the relationship between inflation and P&C/Non-Life insurance lines in the United States, Canada, the United Kingdom, the European Union, Japan and Korea. It aims to provide the reader preliminary insight into the quantitative relationship between overall inflation and insurance replacement costs within and across the covered countries.

In a collective effort, more than two dozen Republican attorneys general issued a warning to insurance companies, cautioning against pushing customers to rapidly reduce emissions and promote an "activist climate agenda." The attorneys general argue that such efforts may potentially violate antitrust laws.

Indiana and Illinois have recently joined the growing number of states enacting legislation aimed at reforming public adjuster practices. These measures are designed to enhance consumer protection, increase transparency, and regulate the activities of public adjusters within the insurance industry.

Primary and excess insurance carriers and their counsel need to pay close attention to a new Texas Supreme Court case Exxon Mobil vs. National Union Fire Insurance Company of Pittsburgh Pennsylvania and Starr Indemnity & Liability Insurance Company, Supreme Court of Texas, Case No. 21-0936.

Inflation, supply chain issues, increased catastrophic losses from climate change, and higher and higher nuclear verdicts mean that insurance carriers are facing higher loss costs and loss ratios to their premium dollar.

Illinois State Representative Will Guzzardi is leading efforts to introduce new regulations that would require auto insurance companies to obtain state approval before implementing rate hikes. Additionally, he aims to implement a ban on excessive rate increases and prevent insurers from using occupation, gender, homeowner status or credit score as factors in calculating premiums.