The article delves into the significant rise in cyber insurance claims resulting from ransomware and data breaches, particularly highlighting industry trends and mitigation strategies. The surge, primarily observed in the United States, underscores the growing complexity and severity of cyber
The global Cybersecurity Insurance Market is on an unprecedented growth trajectory, projected to expand from USD 16,100.6 million in 2024 to an astounding USD 85,707.2 million by 2034. This surge underscores the escalating importance of cybersecurity insurance as businesses grapple with increasing
In recent developments within the power sector, the property and business interruption insurance market has undergone a significant shift. The market had previously endured a prolonged period of hard conditions, characterized by high premiums and limited capacity, largely due to substantial losses
The global Valuables Insurance market, encompassing both business and personal insurance sectors, has demonstrated considerable growth over recent years, reflecting a broader trend toward safeguarding high-value assets. As the market continues to evolve, it is segmented by application into
London's insurance sector is undergoing a significant transformation, spearheaded by the rapid rise of Insurtech. This shift is dramatically affecting hiring patterns and job market dynamics within the industry. Recent reports from Lloyd's of London indicate the most favorable
California has taken significant steps towards enhancing pet care and protection for pet owners with the recent signing of two substantial bills by Governor Gavin Newsom. These legislative actions, SB 1217 and SB 1233, promise to bring necessary transparency and accessibility to pet healthcare and
The insurance industry has long grappled with inefficiencies, higher indemnity costs, claims leakage, and compliance risks. EXL, a leading data analytics and digital operations solutions provider, aims to address these issues with its recently launched EXL Insurance Large Language Model (LLM).
In a significant legal move, Cardinal Timothy Dolan of New York announced that the Archdiocese of New York has filed a lawsuit against its longstanding primary insurance company, Chubb. The lawsuit alleges that Chubb is attempting to evade its legal and moral obligations to settle claims related to
The UK property insurance market is at a crossroads, grappling with multiple challenges ranging from high inflation and supply chain disruptions to the ever-growing risks associated with climate change. It’s not an understatement to say that efficient claims management may very well hold the key to
Bandhan Life Insurance has made a decisive move to bolster its presence in the life insurance sector by entering into a strategic partnership with Bandhan Bank. Leveraging Bandhan Bank's extensive network of branches, this collaboration aims to significantly enhance the distribution of life
