Social inflation is a term that has gained significant attention in the insurance industry due to its profound impact on claims costs. It refers to the rising expenses of insurance claims driven by societal trends and shifts, rather than purely economic factors. This article explores the
The Fort Myers Beach community in southwest Florida is grappling with a significant decision by FEMA that could impact its recovery from Hurricane Ian in 2022. FEMA has announced that this area will lose its flood insurance discounts due to improper rebuilding practices in designated flood zones.
In what could be a significant game-changer for the Texas insurance market, Inszone Insurance Services recently acquired Commercial Insurance of Texas Agency Services, an agency established in 2019. This acquisition marks an expanding presence for Inszone in the Lone Star State and furthers its
The Michigan Department of Insurance and Financial Services (DIFS) is urging residents to review their auto, home, and renters' insurance policies to ensure they fully understand their coverage and have a plan to pay policy deductibles in the event of an emergency. Winter-related damage can
Inszone Insurance Services has made a significant move in the insurance industry with its recent acquisition of Commercial Insurance of Texas Agency Services, a specialized insurance agency based in Texas. This strategic acquisition is poised to enhance Inszone's presence in the Texas market
At present, the gender gap in life expectancy in the United States has become the largest since 1996. At birth, this outlook changed for all population groups, and the average lifespan fell from 78.8 years in 2019 to 76.4 in 2021. This drop is apparent in both groups. For gentlemen, it decreased
The recent regulatory roundup highlights various state-level legislative and compliance actions within the insurance sector across the United States, emphasizing insurance fraud, new regulatory initiatives, and significant compliance-related fines. This comprehensive summary aims to outline the key
The concept of micro-captive insurance is garnering significant attention in Florida as small businesses seek alternatives to traditional insurance due to soaring commercial insurance rates. Despite the increased scrutiny by the IRS concerning potential tax implications, more small business owners
Jason Bertoldi's recent appointment as global team leader for litigation and contingent risk insurance at Alliant Insurance Services brings a wealth of knowledge and a robust background to the company. Based in Irvine, California, Bertoldi is set to assist clients in securing tailor-made
Zurich Insurance Group has made a significant move in the global travel insurance sector by acquiring American International Group’s (AIG) global personal travel insurance and assistance business, including Travel Guard, for $600 million. This acquisition not only solidifies Zurich's position a
