A significant stride towards equitable insurance rate determinations has just been taken by the Washington State Senate. On March 8, 2023, the Senate successfully passed Senate Bill 5589, with the primary objective of addressing concerns surrounding current insurance rating practices. This bill
New Dawn Risk, a prominent independent Lloyd's insurance broker specializing in professional and financial lines and cyber insurance, has taken a significant leap towards modernization with the adoption of Novidea's cloud-native, data-driven insurance management platform. This strategic move
Baige Online Digital Technology Co. Ltd. (Baige) is preparing for an Initial Public Offering (IPO) in Hong Kong, driven by increasing demand for digital risk management services in China's insurance market. Despite this demand, profitability remains a concern for Baige. This article delves into the
The global cargo transportation insurance market is a vital aspect of the logistics industry, providing essential financial protection against risks such as damage, loss, and theft during transit via various modes including sea, air, or land. In 2023, the market was valued at USD 53.99 billion, and
The global mobile phone insurance market is primed for remarkable expansion, driven by the increasing penetration of smartphones, rising device costs, and a growing need for device protection against accidental damage, theft, and other risks. As smartphones become an integral part of daily life,
The issue of California homeowners losing their insurance coverage has reached alarming proportions, leaving many residents bewildered and vulnerable. This article delves into the specific causes, common themes, and the broader impact this trend is having on the state's residents. Increasing
The potential 25 percent reduction in Medicaid funding proposed in a Republican-backed federal budget has sparked significant concerns among federal, state, and local leaders about the future of healthcare in Illinois. This drastic budget cut threatens to strip nearly one million residents of their
The global commercial property insurance market, which was valued at USD 247.80 billion in 2022, is anticipated to experience significant growth over the coming years. Forecasts predict a Compound Annual Growth Rate (CAGR) of 10.39% from 2023 to 2028, driven by the growing recognition among
Life insurance premiums for military personnel, their families, and veterans are set to experience a significant reduction starting on July 1. Service members enrolled in Service Members' Group Life Insurance (SGLI) will witness their monthly premiums decrease from 6 cents to 5 cents per $1,000 of
In an industry-shaking move, NSM Insurance Group, a global specialty insurance provider, has offloaded its US commercial insurance division to New Mountain Capital. The investment firm, boasting over $55 billion in assets, now has ownership of NSM's 15 niche insurance programs across Property &
