Property and casualty insurance

Sara Shipley, INSTANDA chief human resource officer, shares how digital transformation impacts the tech skill barrier.

Key topics at the event included the talent gap, rising costs, extreme weather, connecting and caring.

Distracted driving increased 5% during the 2024 Super Bowl, according to Cambridge Mobile Telematics analysis.

Aon, Floodbase and Swiss Re launch parametric hurricane-related storm surge insurance.

Before the wildfires, California decided to pass on reinsurance costs to policyholders. After the fires, California is considering catastrophe bonds to help shore up the state's insurer of last resort. A consumer advocate says these measures concentrate too much risk locally and do not improve home insurance availability.

Regulator says it will rule urgently; Consumer Watchdog says insurer must disclose more information to justify an increase.

(Bloomberg) --State Farm, the largest home insurer in California, is asking for an emergency rate hike from state regulators as it warns that multibillion-dollar payouts from the Los Angeles wildfires threaten its balance sheet and the broader insurance market.

Terms of home insurance policies and rising construction costs will affect how those who lost their homes in the Los Angeles wildfires can rebuild.

Tech companies Wuuii and ZestyAI enhance underwriting with risk evaluation capabilities.

Arch appoints EVP, COO and Allianz divisions leadership changes, plus more career moves.

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.

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.

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.

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

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.