3+ day, 21+ hour ago  (242+ words) Insurers can now observe events as they develop and in some cases anticipate them. That allows their clients to take action earlier, and earlier action reduces harm and losses. The mechanism is basic: prevention is better " and cheaper " than cure....

5+ day, 20+ hour ago  (268+ words) Insurers are mixing in their own homegrown AI-based detection tools with the third-party ones they use, according to data from the Verisk State of Insurance Fraud study." Verisk commissioned the study based on two national surveys, one of 1, 000 consumers and…...

2+ week, 3+ day ago  (596+ words) A critical focus area shaping the future is engagement model and P&C transformation, where insurers are redefining how they interact with policyholders, brokers, and ecosystem partners. The shift from transactional relationships to experience-driven engagement models is becoming a defining…...

2+ week, 5+ day ago  (399+ words) The Illinois legislature may have found a way to enact a limit on insurance rate increases, after an effort last fall failed. On March 19, the Illinois House passed SB 1486, a bill with an overall purpose of banning hidden fees on…...

2+ week, 5+ day ago  (340+ words) AI increasingly plays a role in insurers' use of aerial images to determine home property coverage. States that do regulate the use of aerial images tend to do so through regulations, not laws. NAIC, the association of state insurance regulators,…...

1+ mon, 2+ week ago  (608+ words) I recently wrote about how more frequent and intense extreme weather events are leading to insurance deserts " geographical areas in which the risks are reaching a point where it may become prohibitively expensive to secure insurance coverage, if coverage is…...

1+ mon, 3+ week ago  (670+ words) Nearly five years ago, as he championed insurance as a social good, Lemonade CEO Daniel Schreiber also posed the question, "What do you do when precise pricing puts insurance beyond the reach of those who need it most?" Schreiber described…...

1+ mon, 3+ week ago  (470+ words) A new California bill setting claims standards for smoke damage lacks definitions and cost controls needed to keep insurance affordable in the state, according to an attorney for insurers. AB 1795, the Smoke Damage Recovery Act, introduced in the state's assembly…...

2+ mon, 1+ week ago  (296+ words) California's legislature and insurance commissioner have proposed an overhaul of the state's home insurance of last resort, the FAIR Plan. The Make It FAIR Act, AB 1680, aims to improve claims handling, coverage options and transparency for wildfire survivors. Lisa Calderon,…...

2+ mon, 2+ week ago  (332+ words) California insurance regulators and consumer advocates said President Donald Trump's executive order preempting state and local permit processes is not enough to ensure recovery from last January's L. A. wildfires." California insurance commissioner Ricardo Lara, in three posts on X responding to…...