The U.S. Senate Budget Committee convened on Wednesday to explore the growing impact of climate change on the insurance industry, focusing on a study that highlighted increasing non-renewal rates of homeowner insurance policies across various states. The hearing, led by Chairman Sen. Sheldon
The Global Federation of Insurance Associations (GFIA) recently held its general assembly in Cape Town, South Africa, where it appointed Stephen Frank as its new president. Frank, who has over 20 years of experience in the financial services sector and has been the CEO of the Canadian Life and
The Federal Trade Commission (FTC) has recently taken significant actions against data brokers Mobilewalla and Gravy Analytics for unlawfully tracking and selling consumer data without their consent. These actions underscore the FTC's commitment to protecting consumer privacy and preventing
Affluent households, particularly those with assets ranging from $500,000 to $5 million, face a unique set of risks and concerns. The 2024 Wealth Report by Chubb highlights three primary areas of concern: climate change, cyber risks, and the protection of high-value collectibles. These issues are
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 insurance industry, traditionally reliant on historical data, standardized metrics, and manual processes, is undergoing a significant transformation with the advent of Artificial Intelligence (AI). By leveraging AI-driven analytics, insurers can now offer faster, more accurate, and highly
