Rhode Island has recently taken a significant step forward in insurance data protection by enacting comprehensive data privacy laws specifically targeting the insurance sector.
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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.
Addressing Huge Losses in the US Property-Casualty Sector
Significant losses in the personal auto and homeowner insurance segments are prompting insurers to refine risk management strategies, while the commercial sector remains resilient.
Preparing for AI Regulation and Litigation in the Insurance Industry
As AI technology permeates the insurance sector, companies must brace for regulatory scrutiny and potential litigation by developing transparent and ethical AI models to ensure compliance and build consumer trust.
Federal Appeals Court Hearing on ESG Rule: A Crucial Moment for the Insurance Industry
The upcoming federal appeals court hearing on the Biden administration’s ESG rule will have profound implications for how insurers incorporate environmental, social, and governance criteria into their business practices and investment strategies
State Farm Seeks Major Rate Hikes for California Homeowners and Renters
State Farm General is seeking to dramatically increase residential insurance rates for millions of Californians, a move that would deepen the state’s ongoing crisis over housing coverage.
Experts: Expect More Cyberattacks Like the CDK Global Outage
A software vendor has promised a quick fix to a crippling ransomware attack that has hit many of Connecticut’s car dealers — even as an expert on cybersecurity warns that more attacks are likely to impact all aspects of modern life.