Global commercial insurance prices increased 4% in the fourth quarter of 2022, down from a 6% increase in Q3 and a 9% increase in Q2, which is a continuation of a trend of moderating increases that began in Q1 2021, …
An earthquake false alarm nearly four years ago can teach disaster and emergency planners – and any crisis communicators, including insurers – a thing or two about communicating to the public during and following a crisis. In May 2019, an …
Just a decade ago, the idea that artificial intelligence (AI) might play a role in everyday insurance practices may have sounded far-fetched. As a legacy industry with longstanding ways of doing things, many insurers kept to traditional practices even as …
Just how big an impact the recent historic California storms had on the state’s cannabis industry is still coming into focus, and while two of the biggest players in California’s cannabis insurance market are starting to see upticks in claims, …
Social inflation has been a hot topic across the insurance industry over the last few years as claims frequency and severity continue to increase across nearly every line of business. While some lines, such as commercial auto and general liability …
Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company’s number one priority: improve margins. Allstate ended 2022 with an unprofitable 110.1 combined ratio in auto — 112.6 for the …
New York Gov. Kathy Hochul vetoed a measure that would have expanded wrongful death benefits after her late bid for amendments was rejected by the sponsors of the bill. In vetoing the Grieving Families Act, Hochul called for more study …
February, aka Insurance Careers Month, makes me nostalgic. I ask myself, “Had I known then what I know now about insurance would it have changed the trajectory of my career?” The fact is I stumbled into the business a year …
Insurance Journal examined industries experiencing changes and a few challenges due to economic forces, tough insurance market conditions, and societal pressure. Here are 10 industry sectors that could see new and emerging risks in 2023 and beyond. Cyber Complexities It …
The insurance industry continues to settle into new working environments, grapple with the effects of “the Great Resignation” and prepare for a potential recession. While 2022 brought continued unpredictability, insurance organizations were provided an opportunity to embrace change and begin …
