Economy

Insurers and insurtechs will have to team up to meet the challenge.

Only 24 states have such laws in place but there is legislation in the works in 21 others.

Nationwide, Travelers discuss the epidemic and possible mitigation efforts insurers can lead.

Climate change protesters in London have targeted insurance underwriting house Lloyd’s of London for its role in enabling fossil fuel projects.

The WTW Insurance Marketplace Realities 2022 Spring Update includes rate predictions and market insights.

Battery-powered cars and trucks tend to be far heavier than their gas-burning counterparts. That extra bulk translates into a mixed bag of benefits and concerns.

The Ukrainian government has asked international marine insurers to stop all dealings with shipping companies carrying Russian fossil fuels in a bid to intensify pressure on Vladimir Putin’s regime.

Digitizing the salvage process can enable faster settlement of claims, improve insurers’ NPS scores and lower vehicle storage costs.

Gild Insurance is on a mission to shake up the small business insurance industry with its constantly available online quote-to-bind services.

Keeping track of frequent changes to homes has become a complex issue for many insurers. With limited resources and rising customer expectations, many insurers are moving beyond traditional forms of customer outreach – emails, phone calls, and on-site inspections— to obtain the latest underwriting data about the properties in their portfolio.

Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims to come if the jets aren’t returned. Insurers, meanwhile, are canceling some policies, including for war risk, and may challenge claims on coverage still in force, industry participants say.

The glass tower in Paris where Axa SA, one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out of it. In recent months that jagged feeling extends inside, too, as senior executives prepared to claw off an extraordinarily profitable part of the company’s $20 billion business: the oil and gas clients whose ties to the insurer go back decades.

Nationwide recently announced a new partnership and the expansion of another as the company continues to grow its Internet of Things capabilities.

The company announced the launch of its first offering in February, a telematics-based platform that is designed to modernize commercial fleet insurance by using vast amounts of driving data gathered from sensors on trucks.

Digital Insurance received responses via email from Dr. Caro Gabor, CEO of Movinx, a global insurtech platform and a joint venture between Swiss Re and Daimler Insurance Services. Dr. Gabor discusses Movinx, auto industry trends and embedded insurance.

Partnerships between automakers and insurance carriers have existed for decades, but more recent deals offer customers insurance options at the point of sale using telematics data capabilities built into connected-car platforms.

After reviewing the claims data from 2019 to 2021, Embroker uncovered some interesting trends and shifts that can help insurers predict the types of claims that businesses will most likely continue to see in 2022.

The U.S. Department of Transportation proposed on Thursday that lane-keeping support, automatic emergency braking, blind spot detection and blind spot intervention be incorporated into its Five-Star Safety Ratings program for new cars.

Hub International Ltd. is partnering with Bold Penguin Inc. to acquire Insureon Holdings LLC’s assets in an effort by the broker to build out its digital capabilities.

The U.S. National Highway Traffic Safety Administration has opened defect investigations in the past two weeks of cars made by Honda Motor Corp. and Tesla Inc. and equipped with automatic emergency braking systems.