Global economic losses from natural catastrophes hit $380 billion in 2023, with insured losses coming in at $118 billion, according to a new report from Aon. The protection gap – the difference between insured and economic losses — reached 69% in 2023, up from 59% in 2022.
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Florida Homeowners Policies Renewing with Higher Deductibles
As new insurance renewals reach homeowners in Florida, some are getting a surprise and it’s not the premium.
North Carolina Residents Call Proposed Homeowners Rates ‘Insane’ and ‘Outrageous’
Residents and local politicians from throughout North Carolina begged the Department of Insurance and Commissioner Mike Causey to reject an average statewide 42.2% homeowners rate increase proposed by the North Carolina Rate Bureau during the beginning of a public hearing.
New Rules Aim to Keep SPACs in Line with Traditional IPOs
The speculative bonanza in special-purpose acquisition companies, better known as SPACs, appears to be dead. Gary Gensler wants to make sure it doesn’t come back to life.
INSTANDA Taps New VP to Oversee Client Relationships & Success for North America
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, announces today the promotion of Katy Murray to vice president of client success where she will oversee all client relationships in North America.
The P&C Distribution Tech Landscape: Opportunities for Agent-Carrier Connectivity
hile carriers have benefited from increased automation and efficiency gains in recent years, processes for distributors have remained largely manual. The tide is beginning to change as solutions emerge specifically for distributors.
Johnson & Johnson to Pay $700 Million to Settle Baby Powder Probe
Johnson & Johnson has tentatively agreed to pay about $700 million to settle an investigation brought by more than 40 states into the marketing of its talcum-based baby powder, a J&J executive said.
Acrisure Forms Northwest Region Covering Eight States
Acrisure, a global Fintech leader, today announced the formation of the Company’s Northwest Region encompassing its businesses in Alaska, Colorado, Idaho, Montana, Oregon, Utah, Washington and Wyoming.
U.S. Property Cat Reinsurance Rates Up 116% Since 2017: Guy Carpenter
Property catastrophe reinsurance rates-on-line slowed their trajectory significant at the January 2024 renewals, but in the United States while the slow-down was a little more severe than some other regions, US property cat reinsurance rates are now a stunning 116% up since 2017.
FEMA Expands Weather Disaster Aid, Citing Climate Change
The agency on Friday announced changes that seek to make it easier for more Americans who face damage to their homes or businesses to get federal funding in the wake of a disaster.