The U.S. Federal Trade Commission (FTC) has initiated a study into how companies use consumer data for targeted pricing. This investigation will examine the extent and impact of personalized pricing based on individuals’ personal data.
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CrowdStrike Outage Could Cost Cyber Insurers Up to $1.5 Billion
The recent CrowdStrike Falcon Sensor update outage, which caused widespread system failures, could result in insured losses between $400 million and $1.5 billion, according to CyberCube.
Clean Energy and Carbon Capture Innovations Transform Insurance Industry
The rise in clean energy and carbon capture patents is significantly impacting the insurance industry. This surge in innovations is prompting insurers to develop new products and risk models tailored to these emerging technologies.
Insurance Industry Embraces Instant Payments Amid Consumer Demand
New data reveals a growing trend of instant payments in the insurance industry, driven by increasing consumer demand for faster transaction processing.
Nationwide Report Highlights Positive Outlook and Rising AI Use for Independent Agents
Despite facing inflation, market volatility, and technological changes, independent insurance agents remain optimistic about their business prospects.
Massachusetts Court Rules on Roof Water Damage in Insurance Claims
The Massachusetts Supreme Judicial Court ruled that rainwater accumulating on roofs does not constitute “surface waters” under property insurance policies.
Connect Group Launches Stability Re to Enhance Specialty Insurance
The Connect Group has introduced Stability Re, a specialty reinsurer designed to provide additional binder capacity to Stability Risk and other managing general agents (MGAs).
Chubb’s Underwriting Gains Rise Amid Rate and Growth Balancing Act
Chubb reported a notable increase in underwriting gains for the recent quarter, highlighting the company’s effective risk management and underwriting practices.
S&P Projects Underwriting Profit for P/C Insurers in 2024
S&P Global Market Intelligence forecasts a significant return to underwriting profitability for the U.S. property/casualty (P/C) insurance industry in 2024.
Major Insurer Exits Florida, Leaving Homeowners in Crisis
Farmers Insurance has announced the cancellation of policies for thousands of Florida homeowners. This abrupt decision leaves many residents scrambling.