With insurance take-up rates below 20%, Hurricane Melissa’s record-setting impact on Jamaica exposes significant coverage gaps. Verisk and Aon warn of rising insured and economic losses.
MGA underwriters are turning to AI, APIs, and automation to speed up quotes, reduce busywork, and adapt to increasingly complex risks like crypto, EV infrastructure, and IoT.
Gen Z values stability, but the insurance industry’s image as rigid, unethical, and uninspiring keeps them away. A new report shows what insurers must change to win them over.
As Caterpillar evolves into a tech-driven service provider, insurers must rethink policies for autonomous systems, cross-border operations, and software-based liabilities.
A jury in Orangeburg County, South Carolina awarded $18 million to former college football player Robert Geathers and his wife Debra after finding that the NCAA was negligent in failing to warn him of the long-term effects of repeated head trauma.
Wind, hail, and water-related claims pushed severity up 9% in 2024, with catastrophe claims reaching a 7-year high of 42%. Adjusters must navigate rising costs, inflation pressures, and shifting risk patterns.
Spears Manufacturing claims Liberty Mutual ignored defense duties in two major construction defect lawsuits, raising concerns about insurer obligations in property damage cases.
The state of California alleges major plastic bag manufacturers falsely labeled their products as recyclable, triggering lawsuits and multimillion-dollar settlements.
An MGA startup uses AI simulations to model catastrophe risks at the property level, targeting homes insurers often avoid. But what does it mean for claims handling?
AI-native businesses push insurers to rethink liability forms and create new facilities as casualty risks evolve. Judgment and human expertise remain critical amid tech disruption.