The year 2024 has brought with it a significant and noticeable increase in car insurance premiums, with many drivers witnessing an average hike of 20% year-over-year. To understand this sharp rise, one must delve into the various factors driving these changes, encompassing both broad industry
The insurance industry is experiencing a transformative shift driven by artificial intelligence (AI). Traditionally reliant on manual processes and historical data, insurers are now embracing AI to enhance accuracy, efficiency, and customer satisfaction. This digital revolution is reshaping risk
Zurich's commitment to data security and responsible AI usage is a well-structured effort designed to manage customer data and implement AI technologies ethically. By outlining their dedicated approach through five main pledges, Zurich aims to assure customers of their unwavering focus on data
In the digital age, cyber threats have emerged as a formidable challenge for businesses, compelling them to seek comprehensive insurance solutions. The rise in data breaches, sophisticated cyberattacks, and the ever-expanding Internet of Things (IoT) ecosystem have added layers of complexity to
The transition from fossil fuels to clean energy is crucial for mitigating climate change and preserving the environment. However, this shift involves significant financial risks and uncertainties. The insurance industry, leveraging innovative solutions, is playing a pivotal role in managing these
The landscape of Non-Life Property Casualty Insurance is undergoing a significant transformation, driven largely by technological advancements. As the global economy expands and digitalization accelerates, the insurance industry is poised to experience unparalleled growth and innovation. This
The recent election of Prime Minister Keir Starmer's new Labour government has generated a positive response from key stakeholders in the UK insurance industry, including Lloyd's, the Association of British Insurers (ABI), and Previsico. These leaders see the new government's agenda
In the pursuit of reducing insurance costs for consumers, Deputy Pearse Doherty has been steadfast in urging the Irish Government to commit to his proposed legislation, first introduced in 2021. The legislation aims to ensure that any savings realized by insurance companies are passed on to
Minnesota is spearheading a proactive initiative to bolster storm preparedness by providing roof repair grants to homeowners. This effort comes in response to the increasing severity of weather events driven by climate change, particularly strong winds and hail. The state aims to follow the example
In a significant milestone for Dellwood Specialty Insurance Company, the industry rating agency AM Best has awarded the firm an A- (Excellent) financial strength rating. This rating acknowledges Dellwood’s robust balance sheet, a solid business plan, sound enterprise risk management, and strong o
