Insurance

Nevada is the state with the most car thefts, based on a study from Tires Easy.

The future of insurance AI is open

A round up of announcements and actions by the state's insurance regulator, a consumer advocate and an industry trade association.

After the California wildfires, other state governments are reacting to wildfire mitigation and related insurance coverage issues, proposing bills or announcing plans for action.

The state's insurance crisis, worsened by the L.A. wildfires, has people talking about measures including mitigating risk, price signaling and even moving residents out of risky areas.

The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.

The nation's largest homeowners insurance providers imposed rate hikes in double-digit percentages last year, led by Farmers' 53.5% increase in Maryland.

Jodie Wallis, global chief analytics officer at Manulife, which operates as John Hancock in the U.S., spoke with Digital Insurance about how the company is deploying GenAI.

Polly data and Everest Group insights on shifting trends in auto and embedded insurance.

Insights from Clyde & Co, Climate X and Innsure.

The California State Assembly has introduced a bill to issue catastrophe bonds to shore up the state's last-resort property insurance, the FAIR Plan. Bonds would remove the burden of L.A. wildfire fallout from taxpayers, insureds and insurers. But analysts say a nationalized risk pool might be necessary.

As vehicles become more connected, autonomous, shared, and electric, the traditional landscape for auto insurance will undergo transformation.

AI-evaluated insurance claims denials can depend on characteristics of the claimant, not just the merits of their claim. AI may not be a reason or the only reason for a claim denial, experts say.

The North Carolina Rate Bureau, representing home insurers, settled for two 7.5% increases this year and next, after originally seeking a 42% rate increase. NCRB says the settlement just postpones the need for higher rates to accurately cover risks, while the insurance commissioner calls it "a big win" for homeowners.

New York Governor Kathy Hochul proposed measures to stabilize the city's taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance Co.

Building meaningful relationships with carriers and stakeholders can be a challenge for insurtechs.

The current LA wildfires have proven costly compared to the previous worst wildfires in U.S. history.

Private credit and insurers are expected to get even closer this year, potentially prompting regulators to inspect ties between the two and any associated risk, according to a Moody's Ratings report.

Chris Raimondo, EY Americas consulting insurance leader, shares his insights on the upcoming trend of agent assistant AI technology.

Technology and climate impacts are just two of the factors that could impact the auto insurance and collision repair industries.