Recent years have proven enormously challenging for nearly every industry, and insurance is no exception. Companies grappled with unexpected transitions to remote workforces as governments worldwide instituted lockdowns to address the COVID pandemic. Supply chains halted, and world economies slowed drastically. On an individual level, consumer spending power plummeted as ...
10/19/2021
2021 has already proven to be a more active Atlantic hurricane season than expected, with 14 named storms and eight weeks still to go till the November 30th end date. It's already been a year much like that of 2020, as above-average storm activity continues to batter the Atlantic and ...
9/14/2021
On July 2, 2021, a dental practice's appeal in federal court regarding its business interruption claim due to COVID-19 was dismissed. Some industry experts believe this could be an important precedent that will help insurers successfully fight policyholder claims involving lost revenue because of the 2020 government shutdown that devastated ...
8/24/2021
The impact of climate change has affected every market sector you can imagine. Still, insurers are feeling a two-fold pinch from addressing this risk and the ever-changing industry regulations designed to combat it. To better understand how insurance companies around the United States respond to volatile weather events caused by ...
8/5/2021
Cybersecurity efforts with the insurance sector have faced many of the same struggles and demands as other industries. While the same cyberattack techniques have been used by criminals wanting data to hold ransom, insurers are especially at risk because of the sheer volume of unique consumer data they process on ...
6/24/2021
Florida Home Insurance Costs on the Rise Florida Office of Insurance Regulation (FOIR) announced that insurance rate increases up to 33% would be approved in 2021 because of the market hardening statewide. Carriers have requested significant hikes in home insurance premiums in the double digits to help them recoup further ...
5/20/2021
Being lauded as one of the costliest winter weather events in Texas History, the February freeze that struck the Lone Star State has billions in claims piling up quickly. It is expected there will be over a million insurance claims submitted because of the damage caused to property, business, and ...
4/21/2021
On-Demand Claims Solutions 2020 has been quite the year, and especially so on the insurance front. Besides the obvious and ongoing pandemic and the challenges it brings, we also saw record-breaking activity this Atlantic hurricane season that was true to many predictions. With a steady onslaught of damage and devastation, ...
12/10/2020
Minimize the Risk of a Cyber Breach Cyber breaches have always been there, just below the surface. But looking over the past decade it is clear that their scope and scale have escalated. All day, every day, malicious online actors are working to breach networks – both yours and your ...
11/11/2020
As technologies continue to grow and thrive the insurance industry will increasingly see changes on this front. Insurtech–the use of technology to enhance insurance operations and the customer experience–is already in wide use when it comes to insurance underwriting. Implementation across the varied landscape of claims handling is the next ...
10/14/2020