The insurance industry in the United Kingdom is under the microscope again, thanks to a new report from the Financial Conduct Authority (FCA). Published on August 21, 2024, the report scrutinizes how well insurance providers and brokers are delivering fair value to their customers. Efforts have
The global auto insurance market is on track to experience significant growth over the next decade, driven by a combination of economic expansion, increasing vehicle numbers, and stringent regulatory requirements. This market is poised to nearly double in size, expanding from USD 735.39 billion in
Experiencing flood damage can be overwhelming, especially when you consider the financial impact and emotional toll it takes on homeowners. According to the Federal Emergency Management Agency (FEMA), even just an inch of water can cause as much as $25,000 in property damage, a staggering cost most
The Global Tech Insurance Business market is experiencing a period of rapid expansion driven by increased cyberattacks, data breaches, and technological advancements. As technology companies face unique risks like cyber liability and intellectual property infringement, the demand for specialized
Climate change is no longer just a talking point; it's a pressing reality that industries, particularly energy firms, face head-on. One of the profound impacts of climate change is the increased frequency and severity of natural catastrophes, which significantly disrupt business operations and
Insurity, a leading provider of cloud-based software and analytics for insurance carriers, brokers, and managing general agents (MGAs), has introduced the Insurity Spreadsheet API. This new solution is set to revolutionize the insurance industry by significantly accelerating product development
The recent affirmation of the Financial Strength Rating (FSR) of A++ (Superior) and Long-Term Issuer Credit Ratings (ICR) of “aa+” (Superior) by AM Best for United States Liability Insurance Company (USLI) and its subsidiaries marks a significant milestone. This recognition underscores the
In today’s fast-paced world, the insurance industry is ripe for transformation. The complexity and inefficiency have long been pain points for policyholders and companies alike. Andy Ann, the founder of Yas Digital, envisions a dynamic, data-driven approach to revolutionize insurance. By
The Financial Conduct Authority (FCA) recently launched a comprehensive review focused on refining financial services regulations, with a primary emphasis on optimizing commercial insurance regulation in the UK. This review could significantly impact the industry by lowering regulatory expenses and
In recent months, Aviva, a leading insurance company, has been under scrutiny for raising its insurance premiums, prompting accusations of profiteering. This development has sparked a heated debate about whether these hikes are justified, especially given the economic backdrop post-COVID-19. Let's
