Over 33,000 insurance claims have been filed following the Los Angeles County wildfires, with insurers paying $6.9 billion to date. California’s insurance commissioner has issued orders to expedite claim payments and prevent policy cancellations.

A new Lloyd’s systemic risk scenario reveals that a hypothetical extreme solar storm could result in a global economic loss of $2.4 trillion over five years.

Thieves have stolen nearly $2 million worth of Nike sneakers from BNSF trains in California and Arizona in a series of well-coordinated heists since last March. Despite multiple arrests, including a suspected ringleader, the thefts persist.

Texas beekeepers have lost nearly two-thirds of their honey bee colonies, threatening pollination services and increasing produce costs. Experts cite multiple factors but lack a clear cause.

With soaring premiums and industry instability, Florida lawmakers are pushing for reforms in home and auto insurance. Transparency, incentives, and technology may offer relief, but challenges remain.

As extreme weather events grow in frequency and severity, insurers must adapt through innovation, risk modeling, and new risk transfer strategies to remain viable.

Legislative reforms targeting legal system abuse and claim fraud are improving Florida’s insurance market, reducing litigation, attracting insurers, and slowing premium increases.

A new AI-driven study by ZestyAI finds that $2.15 trillion worth of U.S. residential property is at high risk of wildfire damage, affecting millions of homes beyond historically fire-prone regions.

While home insurance premiums rise across the U.S., Maine has maintained stability, experiencing a rate decrease in 2024. Geography and low disaster risk contribute to its resilience.

Oswego County officials report at least 26 roof collapses following record snowfall, prompting emergency measures and rescue efforts as structural risks continue to rise.

Severe convective storms are a major driver of rising insurance costs, with hail, tornadoes, and strong winds causing billions in property damage. Understanding storm patterns can help insurers manage risk effectively.

Angela Frase of Sterling, Ohio, has been sentenced to two years in prison for staging a hate crime and committing insurance fraud after setting multiple fires at her home.

Verisk’s latest report reveals that reconstruction costs are rising at a slower pace, approaching pre-pandemic levels. Residential and commercial costs are expected to grow modestly into mid-2025.

Higher interest rates and improved underwriting have helped the US property and casualty insurance industry recover in 2024, with continued growth and profitability expected in 2025.

The final installment of the 2024 Global InsurTech Report explores how artificial intelligence is transforming the insurance claims process, from first notice of loss to settlement, while tracking investment trends in the InsurTech sector.