Introduction to AI in Insurance The insurance landscape is undergoing a profound transformation, with a staggering 77% of insurance C-suite executives embracing artificial intelligence (AI) within the past year alone. This rapid rise in AI adoption signals a pivotal shift towards technology-driven
Millennial Specialty Insurance (MSI) is set to revolutionize the Canadian renters' insurance market. In partnership with Summit Commercial Solutions, MSI is launching innovative multifamily insurance products specifically designed for Canada's growing number of renters. This move
Unpacking the Insider Stock Sale When Andrew Robinson, Chairman & CEO of Skyward Specialty Insurance Group Inc., offloaded 35,724 shares of company stock, the move generated ripples through the investing community. His stock sale on March 8, 2024, at a price of $35.58 per share, amounted to a
Small businesses are the backbone of California's dynamic economy, playing a pivotal role in driving innovation and providing jobs. In a state where natural calamities like wildfires and earthquakes are common, having insurance isn't just a prudent choice, it's a necessity for these
The property and casualty insurance industry is experiencing a notable surge in home insurance costs, with premiums climbing by approximately 35% in the last two years. Homeowners, especially in states vulnerable to disasters, are feeling the financial pressure as insurance becomes less affordable.
The recent surge in US car insurance rates has added a heavy burden to American finances, harking back to unsettling trends reminiscent of the mid-1970s. Car insurance rates soared by almost 21% in February alone, accounting for half a percentage point of the overall 3.2% inflation rate that month.
Unpacking the Tax Relief Plan In an ambitious move, the Florida Senate Finance and Tax Committee has unveiled a sweeping $900 million tax relief package aimed at providing respite to homeowners battered by the state's escalating property insurance costs. Central to this legislative proposal,
DeSantis's Claim and Federal Attention The pronouncement of insolvency by Governor DeSantis has not only drawn local scrutiny but has also resonated on the national stage, evoking unease over a potential financial quagmire. This alarm is predicated on the insurer's perceived inability to
The U.S. Treasury has pinpointed a crucial sector for boosting revenue and ensuring fair tax practices: the tax benefits of life insurance and annuities that primarily benefit the super-rich. Highlighted in the Greenbook alongside the proposed budget for fiscal year 2025, this effort is part of a
Grasping the intricacies of life insurance premiums is pivotal for thorough financial preparation. These costs are a complex blend of various determinants, ranging from an individual's age and health status to their professional risk exposure and the specific life insurance variant they opt
