Rhode Island has recently taken a significant step forward in insurance data protection by enacting comprehensive data privacy laws specifically targeting the insurance sector.
Author: Maria Valdez Haubrich
Market Withdrawal Announcement
American National has announced its decision to completely exit the homeowners insurance market. This follows previous announcements of partial withdrawals from several states, including California and Louisiana, due to challenging market conditions.
AIG Divests $600 Million Travel Business to Zurich Insurance
AIG’s $600 million divestiture of its travel business to Zurich Insurance represents a strategic shift to streamline operations and focus on core areas, enhancing AIG’s financial stability while bolstering Zurich’s position in the travel insurance market.
Sapiens Invests in CoreSuite for Medical Professional Liability
Sapiens International Corporation’s investment in its CoreSuite for Medical Professional Liability underscores a commitment to growth and innovation by enhancing insurers’ capabilities with advanced software solutions, driving digital transformation to improve operational efficiency, risk assessment, and customer satisfaction in the medical professional liability insurance sector.
Impact of Economic Changes on California Workers’ Compensation
The evolving economic landscape in California, marked by inflation and labor market changes, is profoundly impacting the state’s workers’ compensation system, with insurers adjusting premium rates and coverage options, while employers face higher premiums and regulatory compliance challenges.
The Rise of Usage-Based Insurance (UBI) in Auto Policies
Understanding the Growth Implications for Insurers and Policyholders The insurance industry is witnessing a significant transformation with the rise of usage-based insurance (UBI) in auto policies. This evolution is reshaping how insurers assess risk, set premiums, and interact with policyholders. At its core, UBI leverages telematics technology to monitor driving behavior, including factors such… Continue reading The Rise of Usage-Based Insurance (UBI) in Auto Policies
5 Trends in Property and Casualty Insurance for 2024
The property and casualty (P&C) insurance sector is undergoing significant transformation, influenced by technological advancements, regulatory changes, and evolving consumer expectations. This article delves into the latest trends shaping the industry, offering insights into how these developments impact insurers, policyholders, and the broader market. 1. Digital Transformation and Insurtech Integration The P&C insurance industry is… Continue reading 5 Trends in Property and Casualty Insurance for 2024
How Recent Legislation Impacts the P&C Industry
Recent legislative efforts have increasingly focused on enhancing consumer protections within the insurance sector. These efforts include measures to improve transparency in policy terms and conditions, more stringent requirements for claims processing, and enhanced rights for policyholders during disputes. For insurers, it means adapting operational practices to comply with new standards, which may involve investing… Continue reading How Recent Legislation Impacts the P&C Industry
Impact of Climate Change on Property Insurance Rates
How Increasing Natural Disasters Influence Premiums and Underwriting Strategies The property insurance sector is facing unprecedented challenges as the impact of climate change becomes more pronounced. With an uptick in the frequency and severity of natural disasters such as hurricanes, wildfires, and floods, insurers are grappling with the task of adjusting their premiums and… Continue reading Impact of Climate Change on Property Insurance Rates
Program Managers vs. Wholesalers: Understanding Their Roles in Property-Casualty Insurance
Program managers and wholesalers are the heartbeat of the ProgramBusiness.com Market Directory. It is a content-rich platform connecting wholesalers, MGAs/MGUs, program administrators, and carriers with independent agents looking to place business. Agents use it to quickly make contacts and begin their clients’ underwriting, quote, and submission processes. This guide explores the vital distinctions between program… Continue reading Program Managers vs. Wholesalers: Understanding Their Roles in Property-Casualty Insurance