The Institutes have introduced the Associate in Cyber Risk Management (ACRM) designation to equip risk managers, underwriters, and brokers with advanced knowledge and skills in managing cyber risks, a top concern for modern businesses.

Hurricane Milton has resulted in over $2 billion in insured losses in Florida, with more than 230,000 claims filed. Most claims are for residential properties, and 12.8% have been closed so far.

First-time homebuyers face numerous challenges, from navigating flood insurance to understanding builder’s risk coverage. Knowing the right insurance options is crucial for managing financial and property risks.

As cyberattacks grow in frequency and complexity, organizations must adopt a modern approach to cybersecurity. By focusing on education, risk assessment, and prevention, businesses can stay ahead of evolving threats.

NCCI’s State of the Line report reveals a profitable year for workers compensation in 2023, with underwriting gains, premium growth, and declining claim frequency contributing to industry success.

The latest LexisNexis U.S. Home Trends Report shows increasing home insurance loss costs, driven by hail and catastrophic claims, while some weather-related perils saw declining severity in 2023.

Insured losses from global natural catastrophes exceeded the 10-year average, driven by frequent storms and floods, while total economic losses for 2024 remained slightly below average.

AI, cloud computing, and data-driven platforms offer insurers an agile way to modernize claims processes, enabling incremental improvements while enhancing customer experience and reducing costs.

ICEYE’s initial data suggests that Hurricane Milton has caused damage to as many as, or more than, 150,000 buildings in Florida, a count that rivals Hurricane Helene’s impact. Early loss estimates range from $15 billion to $40 billion.

With the insurance industry facing a major talent gap, AI and generative AI can enhance underwriting efficiency by mimicking the expertise of top professionals, leading to better policies and profitability.

A recent study highlights how removing federal subsidies from climate-vulnerable areas can reduce development, increase flood resilience, and generate savings, while emphasizing the challenges of balancing housing demand with disaster risk.

A powerful tornado, part of Hurricane Milton’s aftermath, caused significant damage in Palm Beach Gardens, Florida, including launching an industrial dumpster onto a home’s roof.

Generative AI has the potential to revolutionize the insurance industry by streamlining operations, enhancing customer service, and improving risk management. However, insurers must address ethical, regulatory, and data challenges to fully unlock its benefits.

After Hurricane Milton weakened before landfall, investors in catastrophe bonds are facing losses well below earlier estimates, with single-digit hits predicted instead of the feared 15%.

Despite recent hurricane challenges, Florida’s property insurance market is showing resilience, with reforms leading to rate reductions, new insurer entries, and declining reinsurance costs in 2024.