Insurance Journal
Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly t...
Posted: Jun 30, 2024
Insurance is a data-centric industry. Whether it’s detailed customer information, employee performance success rates or industry trends, agencies are always collecting data. The idea of harnessing this data for better decision-making isn’...
Posted: Jun 30, 2024
By Jahna Jacobson Employers will face three major workplace safety challenges in the coming years, but all can be mitigated through evolving safety solutions, workers’ compensation professionals say. The report, Challenges for Today’s Wor...
Posted: Jun 30, 2024
Economic volatility, geopolitical upheaval and artificial intelligence (AI) have driven the corporate threat level to its highest in 12 years, according to Clyde & Co’s 2024 Corporate Risk Radar. The survey of C-Suite decision-makers, in-ho...
Posted: Jun 30, 2024
The insurance industry has increasingly relied upon the use of big data to enhance its operations and core functionalities, and one way this trend has manifested is in the realms of property and casualty business, where big data is being …
Posted: Jun 30, 2024
I readily admit that lists of top risks, top threats, and opportunities for insurance are well-trodden ground, and ranking risks in order of importance inevitably triggers debate about which risk should be near the top or bottom, rather than the R...
Posted: Jun 30, 2024
Rising interest rates have clipped the bloom from the rose in terms of sky-high sales multiples for many agency sales transactions. Despite continued strong demand for acquisitions, buyers are simply constrained by prime rates above 8%. Unfortunately...
Posted: Jun 30, 2024
Most of our agency clients tell us they have a hard time finding producers. They want to know where to look and how to bring them in. It is not an easy task to find someone, especially a producer from …
Posted: Jun 30, 2024
The strategic application of data analytics has become a cornerstone of success in the insurance industry. Data analytics and predictive modeling offer insurance entities a powerful means to identify profitable market segments, optimize pricing strat...
Posted: Jun 30, 2024
There’s a lack of “green” design specialization but that’s OK, says Kevin Collins, A&E Professional Liability Practice Leader, at Victor. “It’s pretty easy to get coverage for firms that are involved in green d...
Posted: Jun 30, 2024
By Andrea Wells From increased wildfires to flooding to wind and hail and hurricanes, the risks and resulting losses from climate change grow each year. While 2023 was the hottest year on record, 2024 is shaping up to beat that …
Posted: Jun 30, 2024
How are insurers viewing the solar and renewable energy markets? While large risks likely have no problem, smaller to middle risks may face difficulty. “I certainly think there’s a gap in the smaller risk area,” said Loren Henry, vi...
Posted: Jun 30, 2024
Demand for technology-related products such as computer chips, semiconductors, electric vehicle batteries and embedded software is rapidly increasing in today’s tech-driven society, which is in turn increasing demand — and opportunities &...
Posted: Jun 30, 2024
Multiple companies in the United States and Canada experienced a record number of cyber extortion events in 2023 and unprecedented demands, a new report from Marsh shows. The report, Ransomware: A persistent challenge in cyber insurance claims, also...
Posted: Jun 30, 2024
BLUE SPRINGS, Mo. (AP) — A $4.2 million verdict that jurors ordered a Missouri school district to pay a transgender student is under consideration again. The Western District Missouri Court of Appeals found that a judge erred in ordering a R...
Posted: Jun 30, 2024
Iowa officials agreed to pay $3.5 million in a settlement agreement with the family of an Iowa State University student who drowned after a school crew club boat capsized in cold, rough waters. The State Appeal Board approved the terms …
Posted: Jun 30, 2024
Short but severe flooding that followed hurricanes Harvey and Irma in 2017 triggered a nationwide increase in flood insurance take-up driven by a county’s social network proximity to flooded areas, says a new academic paper. The authors’...
Posted: Jun 30, 2024
The trust factor is critical in the insurance purchasing process. When customers trust their insurance provider they feel more satisfied with the insurance buying process even in the face of rising rates. That’s according to the J.D. Power 2024...
Posted: Jun 30, 2024
Higginbotham announced the promotion of long-time executive team member and former Chief Operating Officer, Personal Insurance Mary Russell to the position of President, Private Client Services. This move marks the final division of the president tit...
Posted: Jun 28, 2024
A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-...
Posted: Jun 28, 2024
A cluster of thunderstorms is threatening to become the Atlantic’s next tropical storm or hurricane — if it can survive a cloud of dust from the Sahara. The storms southwest of the Cape Verde islands have a 70% chance of …
Posted: Jun 28, 2024
A divided US Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws, issuing a blockbuster ruling that will constrain environmental, consumer and financial-watchdog agencies. The 6-3 decision,...
Posted: Jun 28, 2024
Three Miami people, two them licensed insurance agents, have been charged with operating an unauthorized insurance agent licensing school and taking license examinations in applicants’ place. At least five agents’ licenses have been suspe...
Posted: Jun 28, 2024
LUFKIN — More than 100 Texas counties do not have a hazard mitigation plan, federal data shows, cutting off access to billions in non-emergency grants to help rebuild infrastructure after natural disasters. Of 254 counties in the state, 103 counties...
Posted: Jun 28, 2024
DES MOINES, Iowa (AP) — A house that was teetering on the edge of an eroding riverbank near a Minnesota dam collapsed into the river in the latest jarring example of extreme weather gripping the upper Midwest. Video shows the …
Posted: Jun 28, 2024