Insurance

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.

Mark Debus, clinical manager of behavioral health at Sedgwick explains some of the reactions people are likely to experience as they process the impact of the LA wildfires.

Mark Debus, clinical manager of behavioral health at Sedgwick shares how disasters like the California wildfires affect the mental health of first responders, residents and others involved in the massive loss.

Digital Insurance gathered comments from insurance professionals about what's ahead.

Insights from VIU by HUB, Jerry and J.D. Power.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

A round up of announcements and actions by California Insurance Commissioner Ricardo Lara and the state's Department of Insurance to assist residents with claims and insurance-related issues.

It's essential for insurers to be ready when disasters strike.

Los Angeles is bracing for critical wildfire conditions again as dry winds scour Southern California.

There were about 39 funding events in the insurtech sector in December, according to a review by Digital Insurance.

When residents can finally return to see what's left of their homes, filing a claim and understanding the process could be challenging for many.