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June 19, 2025

Amazon and State Farm Reach Confidential Settlement in Patent Infringement Lawsuit

Amazon.com Inc. has settled a patent infringement lawsuit filed by State Farm Mutual Automobile Insurance Company. The case, which centered around allegations that Amazon copied patented elder care technology for use in its Alexa-enabled devices, has now been dismissed with prejudice, according to a filing in Delaware federal court.

Background of the Lawsuit

The dispute originated in 2022 when State Farm, based in Bloomington, Illinois, filed what it described as its first-ever patent infringement lawsuit. The complaint alleged that Amazon incorporated features from State Farm’s Sundial senior-care assistance system into its own Alexa-based elder care offerings.

State Farm claimed that it had previously met with Amazon in 2019 and 2020 to discuss a potential collaboration involving the Sundial technology. The features allegedly copied included:

  • A “circle of friends” coordination system for caregivers
  • A chatbot designed for senior user interaction
  • Check-in and remote monitoring functionalities

Legal Proceedings and Resolution

Amazon denied all allegations and challenged the validity of the patents involved. The case was set to proceed in Delaware federal court before both parties requested its dismissal on Wednesday. A dismissal with prejudice prevents the case from being refiled.

On Thursday, State Farm confirmed that the lawsuit had been resolved under confidential terms. No additional details regarding the terms of the settlement have been disclosed.

Amazon has not issued a public comment in response to the settlement, and its legal representatives have not responded to inquiries.

Industry Implications

The case had drawn attention as a rare instance of a major insurance provider pursuing a patent infringement claim against a tech company. Though the outcome remains confidential, the settlement concludes a multi-year legal dispute over intellectual property rights related to emerging technologies in elder care.

No further court action is expected.

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June 19, 2025

Travelers Unveils 2025 Injury Impact Report Highlighting Key Workforce Trends

The Travelers Companies, Inc., one of the nation’s largest providers of workers' compensation insurance, has released its 2025 Injury Impact Report. This latest report examines more than 2.6 million workers' compensation claims spanning two distinct five-year periods — before and after the onset of the COVID-19 pandemic. The findings reveal that while injury rates have declined, the costs tied to these incidents continue to rise.

“Over the last ten years, we’ve seen the growing impact of delayed retirements, sustained turnover, and prolonged recovery periods,” said Rich Ives, Senior Vice President of Business Insurance Claims at Travelers. “This report is meant to help employers understand the factors driving increased claim severity, so they can adapt more effectively, safeguard their workforce, and maintain operational continuity.”

Workers' Compensation Claim Frequency Continues Downward Trend

Travelers' analysis indicates a decrease in injury claim frequency over the past decade. The company processed 1.2 million workers' compensation claims from 2020 through 2024, down from 1.4 million claims submitted between 2015 and 2019.

Increased Injuries Among First-Year Employees Amid Workforce Turnover

The past decade brought significant changes to employment patterns, including heightened turnover during and following the pandemic. This led to a consistent flow of new employees, who are often more susceptible to injury.

According to the report, employees within their first year on the job accounted for roughly 36% of all injuries and 34% of total claim costs over the most recent five years. This marks an uptick from the prior period, which saw 34% of injuries and 32% of claim costs attributed to first-year workers.

The Growing Influence of an Aging Workforce

The U.S. Bureau of Labor Statistics anticipates that by 2033, approximately 24% of the workforce will be 55 or older—a sharp rise from 15% in 2003. Travelers’ data mirrors this trend, showing an increasing share of injury claims involving older employees.

From 2020 to 2024, workers aged 50 and above represented 41% of injuries, with those aged 60 and older making up 16%. This is an increase from 39% and 13%, respectively, during the earlier five-year window. Though older employees are injured less often, their injuries tend to require longer recovery times and result in higher claim costs.

Recovery Times Have Grown Longer Since the Pandemic

Injured workers missed an average of 80 workdays per incident between 2020 and 2024, more than seven days longer than the average from the 2015–2019 period. Those aged 60 and up were out for nearly 97 days on average, exceeding the overall average by nearly 17 days and increasing by 14 days compared to pre-pandemic data.

Travelers' Approach to Mitigating Workplace Injuries

Many workplace injuries are preventable through effective safety practices. Travelers promotes injury prevention through its Workforce Advantage® program, which supports employers across three focus areas:

  • Training and onboarding to instill safe work habits
  • Fostering a safety-first culture that engages employees
  • Managing incidents with the Corridor of Care® post-injury process

“By studying the details of claim frequency, severity, and causes, we aim to give businesses tools to anticipate risks and put practical safeguards in place,” said Chris Hayes, Assistant Vice President of Workers' Compensation and Transportation, Risk Control, at Travelers. “Helping employees feel protected and valued plays a crucial role in maintaining a resilient and safety-minded workforce.”

Report Methodology and Access

The 2025 Injury Impact Report is based on analysis of over 2.6 million indemnity claims—those in which workers could not immediately return to work and required medical care—submitted over a 10-year period by organizations of varying sizes and industries.

Additional details are available at Travelers.com/InjuryImpactReport. For more insights on promoting safer work environments, visit the company’s Workplace Safety Resources page.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a top-tier provider of property casualty insurance for automobiles, homes, and businesses. A member of the Dow Jones Industrial Average, Travelers employs more than 30,000 people and reported over $46 billion in revenue for 2024. Learn more at Travelers.com.

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June 19, 2025

Cybersecurity News: Threat Group Shifts Focus to Insurance Sector

A cybercriminal group previously linked to attacks on U.K. and U.S. retailers is now targeting the insurance industry. Google researchers say the group, believed to be part of Scattered Spider, is behind several recent cybersecurity intrusions. These incidents have affected multiple insurance companies in the United States.

Pattern of Targeted Intrusions

Scattered Spider, a group known for conducting sector-specific campaigns, was initially linked to attacks on retail organizations beginning in April 2025. Google’s Threat Intelligence Group now reports a new wave of targeting specifically affecting insurance companies.

According to John Hultquist, chief analyst at Google Threat Intelligence Group, the current activity pattern “bears all the hallmarks of Scattered Spider,” reports Cybersecurity Dive. Sophisticated social engineering and other tactics aim to exploit human vulnerabilities in IT support channels. For example, cyber criminals may target help desks and call centers, tricking staff into bypassing cybersecurity protocols like multifactor authentication.

Social Engineering Risks

Hultquist emphasizes that the threat group’s methodology often includes deceptive strategies aimed at gathering user credentials and compromising security infrastructure. He advises heightened vigilance across the insurance sector, particularly for organizations with frontline staff who may be targeted through social manipulation.

In response to this threat, cybersecurity firm Mandiant released a technical guide in May to help cybersecurity teams recognize and defend against the methods commonly associated with Scattered Spider.

Recent Cybersecurity Activity Under Review at Erie Insurance

Separately, Erie Insurance recently reported a cybersecurity incident involving unusual network activity on June 7. The company is working with law enforcement and security experts to investigate and has advised customers to remain cautious about unsolicited communications. No attribution has been made regarding the cause of the incident.

For additional details, read the Cybersecurity Dive article.

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June 18, 2025

Widespread Financial Anxiety in the U.S. Hits New Highs, Especially Among Younger Generations

A new national study conducted by Northwestern Mutual reveals that financial uncertainty is significantly impacting the mental, emotional, and physical well-being of Americans, with nearly 7 in 10 individuals (69%) reporting feelings of depression and anxiety related to money, an increase from 61% in 2023. The 2025 Planning & Progress Study findings highlight how economic instability is infiltrating many aspects of daily life, particularly for younger generations.

Financial Stress and Mental Health on the Rise

According to the study, Gen Z and Millennials are experiencing the most severe emotional effects. Roughly 39% of Gen Z and 38% of Millennials say they feel depressed and anxious about finances every week, marking an 8- and 5-percentage-point rise from the previous year, respectively.

In addition to heightened anxiety, 63% of all Americans report that financial stress has disrupted their sleep. For Gen Z and Millennials, over half (53% and 50%, respectively) say financial concerns keep them up at night at least once a month.

Strains on Relationships and Work

The consequences of financial worry extend into interpersonal relationships and workplace performance. Among married or cohabitating individuals, 57% acknowledge that financial stress has affected their relationship—a 13-point increase from 2023. Within this group, the effect is most pronounced among Gen Z (71%) and Millennials (75%).

Social and professional life are also being impacted. More than half of respondents (55%) say they’ve missed a social event due to money worries. Nearly half (49%) report that financial stress has affected their job performance, up from 36% in 2023. Gen Z and Millennials again reported higher-than-average rates, with 74% and 71%, respectively, missing social events, and 64% and 58% noting declines in workplace performance.

Forty percent of Americans say financial worry has caused physical illness, a figure that climbs to 56% for Gen Z and 53% for Millennials.

Finances Viewed as Top Weakness

When asked to rate different aspects of their lives, more Americans characterized their finances as “weak” than any other category. Forty-five percent selected finances, compared to 28% for both physical and mental health, 27% for friendships, 26% for job stability, and 22% for family relationships.

This sentiment was consistent across all genders and racial backgrounds. Women were especially likely to describe finances as their weakest area (50%), followed by physical health (30%). Among men, 40% rated their finances as “weak,” followed by friendships (27%).

Generationally, Gen Z (52%) and Millennials (51%) were more likely to report financial weakness than Gen X (48%) or Boomers+ (32%).

Financial Advisors Associated with Greater Confidence

The data also indicates a stark contrast in financial confidence between those with and without professional financial guidance. Among individuals working with a financial advisor, 76% describe their finances as “strong,” compared to just 44% of those without an advisor.

For Gen Z, 63% of those with a financial advisor report financial strength, versus only 42% of their peers without one.

Methodology and Background

The Harris Poll conducted the 2025 Planning & Progress Study on behalf of Northwestern Mutual. The survey collected responses from 4,626 U.S. adults aged 18 and older between January 2 and January 19, 2025. The data were weighted for demographic representation, including age, gender, race/ethnicity, region, education, income, and household characteristics.

Northwestern Mutual, a financial services company with more than 165 years of history, sponsors the annual study as part of its ongoing research into American financial behaviors and perceptions. The company supports clients through comprehensive planning services and has nearly 8,500 financial advisors nationwide.

For more information, the full survey methodology is available through Northwestern Mutual.

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June 18, 2025

Pet Insurance Claims Help Predict Human Disease Outbreaks, New Study Finds

A new study published in Nature’s Scientific Reports reveals that data from pet insurance claims can serve as an early warning system for disease outbreaks in humans, potentially offering a one-year lead time before illnesses appear in people. The research, supported by Fetch Pet Insurance, analyzed 14 years of canine illness data and found significant predictive correlations with human disease trends.

Veterinary Claims as a Public Health Tool

The study, led by Dr. Janice O'Brien of the Virginia-Maryland Regional College of Veterinary Medicine, examined Fetch Pet Insurance claims from 2008 through 2022. Researchers compared these records to human disease data from the Centers for Disease Control and Prevention (CDC), focusing on three conditions: Lyme disease, giardiasis, and Valley Fever.

The results show that outbreaks of giardia and Valley Fever in humans could be predicted up to a year in advance using trends found in dog health records. Researchers also identified six U.S. states — North Dakota, South Dakota, Illinois, Michigan, Ohio, and South Carolina — where Lyme disease is on the rise among dogs but has not yet been detected in humans.

Collaboration and Implications

The research team included veterinary and data science experts: Dr. Aliya McCullough, Chief Veterinary Officer at Fetch; Dr. Christian Debes, data scientist at SpryFox; and Dr. Audrey Ruple, veterinary epidemiologist and chair of the Fetch Veterinary Advisory Board.

According to Dr. Ruple, “Pet insurance data could help us predict disease outbreaks earlier, impacting both dog and human health. This will allow us to warn public health officials in both human and pet fields sooner.”

Emphasizing the One Health Approach

The study reinforces the growing emphasis on the One Health initiative, which views human, animal, and environmental health as interconnected. By utilizing data from companion animals, scientists hope to strengthen disease surveillance systems and improve outbreak preparedness across species.

About the Study

The findings were derived from the analysis of over a decade of insurance claims and CDC records, highlighting how non-traditional data sources like pet insurance can augment public health monitoring.

About Fetch Pet Insurance

Fetch Pet Insurance provides comprehensive coverage for dogs and cats in the U.S. and Canada. In addition to its insurance offerings, the company supports various animal welfare initiatives, including Project Street Vet, a nonprofit delivering free veterinary care to pets of individuals experiencing homelessness. More information is available at fetchpet.com.

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June 18, 2025

Trucking Insurance Brokers Face Market Volatility and Shrinking Options

The trucking insurance market is experiencing significant disruption as rising premiums, legal unpredictability, and insurer withdrawals reshape how brokers and fleets operate. The combination of these pressures is narrowing the path to affordable, stable coverage and creating new demands on broker strategy and execution, according to Insurance Business.

Rising Trucking Insurance Costs and Tightening Margins

Fleet operators are facing heightened financial strain as trucking insurance premiums climb alongside other operational expenses, including fuel, equipment, and driver pay. At the same time, freight rates have remained relatively stagnant. The result is a margin squeeze that has become unsustainable for some businesses, with fleet closures becoming more frequent.

Shifts in Legal Risk and Settlement Practices

Insurers are increasingly opting to settle claims early, even those involving low-impact accidents, to avoid the risk of unpredictable jury verdicts. Settlements that far exceed the expected payout for minor incidents are becoming more common, especially in certain jurisdictions. This shift reflects a strategic move by insurers to control exposure rather than pursue profit, contributing further to rising premiums and underwriting caution.

Declining Carrier Availability and Accelerated Timelines

As more insurers withdraw from high-risk segments of the market, the pool of available carriers has narrowed. Brokers now face greater urgency to begin the underwriting process early and to submit highly detailed and accurate applications. Incomplete safety records or insufficient loss history explanations are increasingly likely to result in immediate declines. Moreover, widespread marketing of accounts across multiple carriers is seen as counterproductive. It can weaken broker relationships, strain resources, and potentially lead to adverse pricing or denied coverage options.

Differentiation Through Underwriting Quality

In a tightening market, fleets with strong safety records and clean loss histories are gaining more favorable terms. Higher trucking insurance premiums have made group captive programs more accessible to smaller operators, offering an alternative path for qualifying fleets to stabilize costs. The quality of a submission — completeness, clarity, and timeliness — has become a critical factor in securing quotes. Discrepancies such as outdated driver lists or late equipment disclosures can significantly impact rates or eliminate options altogether.

Evolving Broker Role in a Volatile Landscape

The current environment underscores the growing complexity of trucking insurance and the necessity for informed, disciplined broker engagement. Misperceptions about insurer profitability and safety program effectiveness continue to challenge conversations between brokers and clients. Proprietary underwriting models now influence how fleets are scored, limiting the effectiveness of traditional performance benchmarks. Increased market volatility and fewer fallback options have made early preparation and strategic focus essential. Brokers and fleets alike face higher stakes, where delays or missteps in the renewal process can result in substantial financial consequences — or even loss of coverage. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com.
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June 17, 2025

Inszone Insurance Services Acquires Denver West Insurance Brokers for Undisclosed Sum

Inszone Insurance Services, a Sacramento-based national insurance brokerage, has acquired Denver West Insurance Brokers, an independent agency located in Golden, Colorado. The transaction supports Inszone’s strategic expansion across the state and strengthens its presence in the Denver metropolitan area. Financial terms of the deal were not disclosed.

Background and Transition

Denver West Insurance Brokers was founded in 2003 by Tina Kiel. The agency has built a reputation for offering personalized insurance solutions across personal and commercial lines. As Kiel approaches retirement, she selected Inszone as the partner to ensure continuity for her clients and team.

According to the announcement, Denver West will continue operations from its current office location with its existing staff. Kiel cited Inszone’s alignment with the agency’s practices and systems as a key factor in the decision, emphasizing the importance of a smooth and familiar transition for clients.

Inszone Insurance’s Strategic Growth

Inszone Insurance Services provides property and casualty, personal lines, and employee benefits insurance services. The company has pursued an acquisition-driven growth strategy in recent years, expanding its footprint in multiple states.

Chris Walters, CEO of Inszone Insurance Services, welcomed the addition of Denver West to the company’s portfolio, stating that the acquisition enhances Inszone’s ability to deliver insurance solutions throughout Colorado while reinforcing its commitment to local service.

Broader Expansion Activity

Earlier in 2025, Inszone acquired Kouri & Associates, a Sioux Falls, South Dakota-based agency with a history dating back to 1970. That acquisition similarly aligned with Inszone’s objective to grow through partnerships with established, community-focused agencies.

Read the full press release for additional information.

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June 17, 2025

U.S. Business Owners Take Strategic Measures Amid Rising External Threats, Gallagher Survey Finds

A new survey from Gallagher, a global insurance brokerage and consulting firm, reveals that U.S. business owners are taking significant steps to shield their operations from a wide range of external threats. The survey, conducted between March 21 and April 2, 2025, sampled 1,000 U.S. business owners and offers a data-driven look into the concerns and actions of businesses navigating current risk environments.

High Levels of Concern Around Cyberattacks and AI

According to the report, cyberattacks top the list of concerns for U.S. business owners, with 72% expressing strong concern about the impact of such events in the coming year, up from 69% in 2024. In response, 36% of respondents stated an intent to either acquire or increase insurance coverage for cyber risks.

Concerns about artificial intelligence (AI) have also grown, with 93% of respondents reporting at least some level of worry about its potential effects on their businesses, compared to 85% the previous year. Nearly all business owners surveyed agreed that stronger regulation (95%) and protection (90%) surrounding AI are necessary. Despite concerns, 46% of respondents plan to increase investment in AI to enhance operations.

Supply Chain Resilience in Focus

Disruptions in supply chains remain a pressing issue, with 69% of respondents expressing concern, an increase from 68% in 2024. To address potential vulnerabilities, business owners are adopting various technologies:

  • 40% are investing in artificial intelligence and machine learning to improve supply chain forecasting and responsiveness.
  • 37% are leveraging supply chain automation.
  • 37% are turning to cloud computing.

Additionally, 75% of business owners have contingency suppliers in place, a proactive move to minimize the impact of unexpected disruptions.

Insurance Claims and Coverage Gaps

The study also explored insurance usage trends. Among U.S. business owners with insurance coverage, 87% reported filing a claim in 2024. A majority of those claims (73%) were valued at $25,000 or more. The types of coverage most frequently used included:

  • Property insurance (29%)
  • Employment practices liability (28%)
  • Cyber insurance (27%)
  • Flood insurance (27%)

Weather-Related Risks Prompt Relocation and Fortification

Severe weather ranks equally with supply chain and cyber threats in concern levels, cited by 69% of respondents. In light of this, 57% of business owners have considered relocating or upgrading their facilities to better withstand extreme conditions. Among those considering relocation:

  • 44% would move within the same state.
  • 44% would move to a different state.
  • 11% would consider relocating to a different region entirely.

Flooding stands out as a specific concern, identified by 35% of business owners as a threat to either their own operations or their suppliers. However, only 30% currently have flood insurance. Of those with flood insurance, 71% have filed at least one claim, and 27% have filed multiple claims. Among those currently without flood coverage, 80% said they are likely to purchase it within the next year.

Following claims related to weather events, respondents have taken additional steps to protect against future incidents. Reported actions include safeguarding against:

  • Floods (40%)
  • Fires (39%)
  • Wind damage (37%)
  • Hurricanes (32%)
  • Hailstorms (31%)

Methodology

The survey was conducted online by Wakefield Research between March 21 and April 2, 2025. It involved 1,000 U.S. business owners and maintains a 95% confidence level with a margin of error of ±3.1 percentage points.

About Gallagher
Gallagher (NYSE: AJG) is one of the world's largest insurance brokerage, risk management and consulting firms. As a community insurance broker and trusted local consultant, we help people and businesses move forward with confidence. With more than 56,000 people working around the globe, we are connected to the places where we do business and to every community we call home. Managing risk with customized solutions and a full spectrum of services, helping you foster a thriving workforce, and always holding ourselves to the highest standards of ethics to help you face every challenge - that is The Gallagher Way. https://ajg.com Stay informed and ahead of the curve — explore more industry insights and program opportunities at ProgramBusiness.com.
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June 17, 2025

2025 Hanover Home Report Highlights Gaps and Opportunities in Home Safety Awareness

A new report released by The Hanover Insurance Group, Inc. reveals a notable gap between homeowners’ awareness of home risk prevention tools and their actual implementation. The 2025 Hanover Home Report: Loss Prevention, based on a survey conducted by The Harris Poll, shows that while many American homeowners recognize common risks to their property, far fewer take action to prevent potential damage.

The survey, conducted in March 2025 among 1,111 homeowners, focused on three major risk areas: water damage, structural safety, and fire prevention. Respondents were asked about their familiarity with relevant safety technologies and the preventative steps they’ve taken.

Water Damage Prevention

Non-weather-related water damage remains a leading cause of insurance claims. According to the report:

  • 79% of homeowners are aware of water sensors.
  • 76% are familiar with automatic water shutoff devices.
  • However, only 16% have installed water sensors or confirmed their presence in their homes.
  • Just 13% have installed or verified the presence of automatic water shutoff devices.

Structural Safety

Damage from wind and hail is also a frequent source of claims. The report found:

  • 61% of respondents know about fortified roofing materials.
  • 59% are aware of wind-rated garages.
  • Despite this, only 17% have upgraded their roofs with fortified materials.
  • Only 10% have installed or verified wind-rated garages.
  • However, the percentage of homeowners who checked their roof condition within the past year increased from 38% in 2024 to 57% in 2025.

Fire Prevention

Home fire-related incidents are among the most financially damaging. Awareness levels for fire safety tools are high:

  • 99% of homeowners are aware of smoke detectors.
  • 97% are aware of fire alarms.
  • Yet only 67% have installed or confirmed the presence of smoke detectors.
  • 62% have cleaned dryer vents in the past year.
  • 57% have serviced HVAC systems or changed filters within the last 12 months.

Recommendations for Homeowners

The report includes several recommendations to help reduce risks and potential losses:

  • Install water sensors and automatic shutoff devices: These tools are cost-effective and can prevent extensive water damage.
  • Conduct regular inspections: Annual checks of roofs, HVAC systems, and water heaters can identify issues before they escalate.
  • Perform routine maintenance: Cleaning gutters and trimming trees may help prevent damage during storms.
  • Enhance fire safety practices: Routine cleaning of dryer vents and installation of smoke detectors are key measures.

Industry Commentary

While the report does not make specific predictions, it includes commentary from Daniel C. Halsey, president of personal lines at The Hanover, who noted that "as weather becomes more severe and risks evolve," homeowners increasingly need to take proactive steps to protect their homes.

The report suggests that more work is needed to help homeowners move from awareness to action when it comes to home safety.

About the Study

The survey was conducted online in the United States from March 25–27, 2025, with a sample of 1,111 adults aged 18 and older who own a home. The data carries a margin of error of ±3.6 percentage points at a 95% confidence level.

For further details or to access the full report, visit hanover.com.

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June 16, 2025

Generative AI Poses Adaptation Challenge for Global Insurance Sector

A new study from the Global Workforce Intelligence (GWI) Project, titled Intelligent Adaptation in Insurance – Predicting the Unpredictable, highlights wide disparities in how prepared insurance organizations are for the disruptions brought on by Generative AI. The report presents a detailed analysis of workforce skill gaps and strategic responses across the $10 trillion global insurance market.

Rising Protection Gaps Underscore Industry Risk

The insurance sector is under mounting pressure as the global protection gap—defined as the shortfall between economically beneficial insurance coverage and the actual coverage in place—continues to widen. In 2022, the protection gap stood at $181 billion. This increased sharply to $262 billion in 2023, with 2024 losses projected to surpass those figures and trend significantly above historical norms. Much of the increase is attributed to a rise in natural disasters, posing new challenges to an already strained industry.

Workforce Skill Gaps in the AI Era

According to the GWI Project’s research, conducted in partnership with talent intelligence platform Eightfold AI, insurance professionals across core functions such as sales, IT, product development, and claims management are facing critical skill shortages. The report notes that traditional strengths in sales and marketing, such as customer service and sales management, are becoming increasingly commoditized due to the rise of digital marketing funnels and AI-driven automation. The study emphasizes that the ability to continually upskill, adapt, and respond to technological advances is now essential for organizational resilience. However, most companies are not currently equipped to meet these demands.

Key Findings

The report outlines four central findings regarding talent strategy and business adaptability:
  • Lack of proactive risk management: Most insurers are unprepared to manage rapidly changing global risks effectively.
  • Need for systemic HR solutions: Fragmented talent strategies are proving inadequate; a more cohesive, enterprise-wide approach is needed.
  • Prioritization of adaptable skills: Leading companies—referred to as “pacesetters”—are focusing on skill sets and roles that enhance organizational flexibility.
  • Deeper talent intelligence: Sophisticated analytics tools are becoming essential to inform effective workforce planning and decision-making.

The Four R Framework and Strategic Response

To address these challenges, the report recommends implementing a systemic approach to workforce transformation, structured around the “Four R Framework”: recruiting, retention, reskilling, and redesigning. It suggests that sustainable growth will depend on operationalizing talent intelligence across these dimensions. The report concludes by presenting six actionable steps for leaders looking to develop a unified, AI-ready strategy for workforce adaptability. These steps are designed to help organizations keep pace with external disruptions and internal transformation requirements in an increasingly uncertain business environment. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com
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June 16, 2025

Home Sellers Are Flooding the Market: What That Means for Prices in 2025

According to a recent Redfin analysis, the U.S. housing market now has nearly 500,000 more home sellers than buyers — the widest gap since tracking began in 2013. As of April 2025, sellers outnumber buyers by 33.7 percent, a shift that signals a clear transition to a buyer’s market. Redfin projects that home prices will decline by about 1 percent before the end of the year as a result.

A Buyer’s Market Is Taking Hold

Sellers currently outnumber buyers by a margin not seen since records began in 2013. With roughly 1.94 million active home listings and just 1.45 million estimated buyers in the market, house hunters now have more leverage when it comes to negotiations. Out of the 50 largest metropolitan areas, 31 are considered buyer’s markets. These include cities like Miami, Austin, and Phoenix, where sellers significantly outpace demand.

Condos are facing the greatest imbalance, with 83.5% more condo listings than buyers. The gap is smaller for single-family homes and townhouses, but still notable at 27.8% and 33%, respectively.

Why Are So Many Sellers Entering the Market?

Several trends are contributing to the growing number of home sellers:

  • Home prices and mortgage rates remain high, which is discouraging many buyers from entering the market. The median home price in April was $431,931, and the average 30-year mortgage rate was 6.73%.
  • Economic uncertainty, including tariffs, layoffs, and policy changes, has caused many potential buyers to delay large purchases.
  • Homeowners who locked in historically low mortgage rates during the pandemic are starting to list their homes due to life changes such as job moves, office return mandates, or divorce.
  • Rising costs for homeowners association (HOA) fees and insurance premiums are especially pushing condo owners to sell.

Despite the clear market shift, many sellers are still pricing their homes based on peak market conditions. In April, 44% of active listings had been on the market for 60 days or more, which suggests overpriced inventory is starting to pile up.

Where Buyers Have the Advantage

Florida leads the list of buyer’s markets. Miami, West Palm Beach, Fort Lauderdale, and Tampa all have significantly more sellers than buyers. In Miami alone, there are nearly three times as many sellers as buyers. Cities like Austin and Jacksonville are also seeing home price drops of over 3% year over year.

On the other hand, areas like Newark, New Jersey, remain strong seller’s markets. Newark has 47% fewer sellers than buyers, which has contributed to a 12.2% increase in the median home price over the past year.

What to Expect Moving Forward

Redfin forecasts a national decline in home prices of about 1% by the end of 2025. With the number of sellers continuing to outpace demand, sellers should act quickly and price their homes realistically. Homes that have been sitting on the market may need to be improved or repriced to attract buyer interest.

For buyers who remain in the market, this shift offers more inventory and greater negotiating power. Some are already securing homes below asking price with added concessions from sellers.

The market dynamic has clearly changed. Whether you are buying or selling, staying informed and adjusting to current conditions will help you make the best move in today’s housing landscape.

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June 16, 2025

Air India Crash May Trigger India’s Costliest Aviation Insurance Claim

The crash of an Air India Boeing 787-8 Dreamliner on June 12 could become the most expensive aviation insurance claim in India’s history, The Times of India reports. Potential claims are estimated to exceed ₹1,000 crore. This amount surpasses the total annual premium generated by the Indian aviation insurance sector.

Overview of Insurance Coverage

Air India insures its fleet through a $20 billion global aviation program. The policy splits coverage between hull and liability components. Tata AIG, a group company under the airline’s parent conglomerate, underwrites part of the risk alongside other domestic insurers. Meanwhile, a global consortium led by AIG manages reinsurance, with support from public sector firms like New India Assurance and GIC Re. Following the crash, New India Assurance and GIC Re saw their shares fall by 4% and 3%, respectively.

Hull Loss Estimates

The aircraft, identified as VT-ABN and delivered in 2013, carried an insurance value of approximately $115 million as of 2021. Although the aircraft’s age may help reduce the hull loss, experts still expect a significant payout. Industry estimates place the current hull value between $75 million and $80 million. The aviation hull all-risk section covers the aircraft’s declared value, including spares and equipment, regardless of whether the damage is partial or total.

Liability Claims and Scope

Liability claims will likely form the largest part of the financial loss. These include compensation for over 240 reported passenger deaths and potential third-party claims related to ground damage near the airport. Under the Montreal Convention of 1999, compensation per passenger stands at 128,821 Special Drawing Rights (SDRs), or roughly $171,000.

In addition, passenger nationality will influence the minimum compensation requirements under the convention. Moreover, additional liability may arise from third-party property damage and any civilian fatalities where the aircraft crashed.

Global Insurance Structure

The size and complexity of this claim underscore the global structure of aviation insurance. Large commercial aircraft such as the Boeing 787 typically carry hull values between $200 million and $300 million, while liability coverage for international flights often exceeds $500 million. To manage this level of exposure, insurers spread the risk across multiple international reinsurers rather than relying on a single company.

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