Industry News


How This Year’s Tornado Season Will Impact Your Insurance Customers

The US tornado season is often a time of worry and increased claim numbers for all insurance companies. There is nothing more unpredictable than a tornado, and the season, which runs from March through June, can see many major incidents or just a few scattered events. Planning ahead for the ...
5/17/2022

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Inflation's Effect on Car Insurance

Inflation is a general increase in the level of price of an economy. It indicates a reduction in the purchasing power per unit of money. On the other hand, insurance is an arrangement undertaken by a company or state to provide an assurance of compensation for specified damage, loss, or ...
4/8/2022

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Cyber Insurance: Staying Ahead of the Game

As our world grows increasingly technology-driven, taking the business and commerce arenas along with it, the need for a response from the insurance industry increases. With larger amounts of money changing hands online and nearly all personal data and identity information being stored electronically, the threat of hacks, ransomware, and ...
3/3/2022

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Navigating an Insurance Claim After Damage from a Tornado

When a family is taking shelter from an impending tornado, figuring out how to handle adjusters and insurance carriers after the damage is done is likely at the bottom of their priority list. However, after surviving such an ordeal and looking upon the damage caused to their home or property, ...
12/27/2021

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Property Insurance in the Era of Climate Change: How Insurance Companies are Handling Mounting Claims and Losses

The 2021 United Nations Climate Change Conference , more familiar to most as COP26, recently concluded, with most of the world’s nations committing to find ways to reach net-zero carbon by 2050. While much of the discussion focused on the practical aspects of hitting net-zero targets, the conference also highlighted ...
11/9/2021

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Building the Next-Generation Company: Evergreen Technology and Automation in the Insurance Sector

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

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Tropical Storms and Hurricanes: Insurers Face Riskier Landscape in 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

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Latest Federal Ruling on COVID-19 Business Interruption Claims Favors Insurers

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

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How Insurance Companies Can Prepare for Increased Climate Change Risk

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

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Cybersecurity Within the Insurance Industry

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

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