UpCover, Australia's only digital-first commercial insurance broking company, has successfully raised $19 million in its Series A funding round. This significant milestone marks a pivotal moment in UpCover's mission to disrupt the Australian commercial insurance sector. The funding effort,
The construction industry has been grappling with numerous challenges over the past few years. Two of the most persistent concerns have been labor and interest rate issues. However, supply chain risk management has also become a crucial area of focus for industry professionals. Supply chain
The Marsh Global Insurance Market Index for the fourth quarter of 2024 reveals significant shifts in global commercial insurance rates, reversing a seven-year trend of consistent rate increases. The overall global insurance rates declined by 2%, marking the second consecutive quarterly decrease.
In today's volatile market, commercial property owners face numerous challenges in securing comprehensive insurance coverage. Escalating property values, tighter insurance markets, and the pervasive effects of climate change have made it increasingly difficult to protect financial stability. With
In a significant move to modernize its operations, Merchants Insurance Group has partnered with CLARA Analytics to integrate artificial intelligence (AI) into its claims processes. This collaboration aims to streamline claims management, improve operational efficiency, and enhance customer service.
California is facing an unprecedented challenge as increasing wildfire risks, driven by climate change, strain the state's insurance systems. Private insurers are retreating from high-risk areas, leaving homeowners to rely on state-backed "last resort" insurance plans like California's FAIR Plan.
Governor Brian Kemp recently unveiled a legislative proposal aimed at reforming Georgia's legal system, with a significant focus on tort reform. This initiative is designed to limit lawsuits and large jury verdicts as a strategic approach to mitigate escalating insurance costs, which are severely
The property and casualty insurance sector is poised for significant changes in 2025, driven by a variety of economic trends. These trends include persistent inflation, rising healthcare costs, wage inflation, and adjustments in Federal Reserve policies. Understanding these factors is crucial for
The escalating threat of floods in the UK is becoming a significant concern, with profound implications for the financial stability of the housing market and the banking system that supports it. Although the UK currently mitigates this risk through a collective insurance program known as Flood Re,
The life insurance industry is experiencing a significant transformation driven by the integration of advanced technologies like artificial intelligence (AI), big data, and blockchain. These innovations are fundamentally changing the landscape of life insurance, impacting how insurers assess risk,
