KBW’s Analysis Foresees Bright Earnings Outlook Across P&C Insurance Sub-Sectors for 2024
According to KBW, Property & Casualty insurers express optimism for 2024, driven by rate increases, moderating loss trends, and strong growth in brokerage and specialty lines.
March 7, 2024
Insurance Industry
Property
Risk Management
Florida
Rapid Growth in AI Adoption for Anti-Fraud Initiatives Predicted Through 2026
A new report forecasts a significant rise in AI and machine learning usage in anti-fraud programs, with a nearly threefold increase anticipated by 2026.
March 6, 2024
Fraud
Insurance Industry
Technology
The Evolution of Claims Handling: From Paper to Digital Mastery
The shift from paper-based processes to digital claims management marks a transformative era for adjusters, enhancing efficiency and customer service.
March 5, 2024
Education & Training
Insurance Industry
Technology
Survey Exposes Lack of Awareness Among Americans Regarding Litigation Costs and Their Impact
Over 60% of Americans are unaware of the added household costs due to litigation tactics, highlighting the need for legal system reforms.
March 5, 2024
Fraud
Insurance Industry
Legislation & Regulation
Liability
State Farm’s Underwriting Loss Deepens in 2023 Despite Auto Insurance Recovery
In 2023, State Farm reported a significant increase in underwriting losses, driven by property line challenges despite improvements in auto insurance results.
March 4, 2024
Auto
Catastrophe
Insurance Industry
Property
Exploring the Impact of Physical Therapy on Workers’ Compensation and Beyond
Physical therapy (PT) is increasingly recognized for its clinical and economic benefits, offering significant savings and improved outcomes across the healthcare spectrum.
March 4, 2024
Insurance Industry
Life & Health
Technology
Workers' Compensation
P&C Insurance Sector Faces Economic Uncertainty and Mixed Market Signals
Economic uncertainty affects the P&C insurance market with rate hikes, profitability shifts, and changing insurance availability.
March 4, 2024
Catastrophe
Insurance Industry
Technology
Illinois Bills Risk Higher Auto Insurance Costs by Ignoring Risk-Based Pricing Principles
Recent Illinois legislation could inadvertently raise auto insurance premiums by limiting risk-based pricing, counteracting intentions to protect consumers.
March 4, 2024
Auto
Insurance Industry
Legislation & Regulation
Risk Management
Illinois
Majority of Organizations Face Repeat Ransomware Attacks, Study Reveals
Cybereason’s study indicates a worrying trend: 78% of ransom-paying firms are targeted again, often facing higher demands, underscoring the persistent threat.
March 1, 2024
Insurance Industry
Risk Management
Technology
Uninsured Drivers Surge in Florida, Highlighting Insurance Affordability Crisis
The escalating number of uninsured drivers in Florida underscores a growing crisis of insurance affordability, putting all road users at risk.
March 1, 2024
Auto
Insurance Industry
Legislation & Regulation
Risk Management
Florida
Mississippi
Generative AI Revolutionizes P&C Insurance with Promising and Complex Future
Generative AI offers transformative potential for P&C insurance, promising significant value while posing challenges in adoption and governance.
February 29, 2024
Insurance Industry
Risk Management
Technology
Cybersecurity Challenges and Strategies in a Digital Age
Cyberattacks pose a daily threat to organizations, highlighting the need for advanced security measures and robust risk management.
February 29, 2024
Insurance Industry
Risk Management
Technology
Tiara Wallace Champions Diversity and Innovation in Risk Management
With a rich background in claims and education, Tiara Wallace brings a fresh perspective to risk management, emphasizing diversity and innovation.
February 29, 2024
Education & Training
Insurance Industry
Risk Management
Oklahoma
Texas
Recent New York Appellate Decisions Impact Insurance Broker E&O Claims
Two pivotal New York appellate decisions underscore the complexities of insurance broker errors and omissions, affecting both agents and clients.
February 28, 2024
Insurance Industry
Legislation & Regulation
Liability
Litigation
New York
Atlantic Hurricane Season Predicted to be Exceptionally Severe Amid Homeowners Insurance Market Challenges
With homeowners insurance rates adjusting, the Atlantic faces a potentially severe hurricane season due to alarming El Niño and La Niña patterns.
February 27, 2024
Catastrophe
Insurance Industry
Property
Risk Management
