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Artificial intelligence is changing insurance – underwriters aren’t sure they trust it
“We had greenwashing a couple of years ago, where companies claimed to be more sustainable or environmentally conscious than they really were,” Shah said. “Now, we’re seeing AI-washing – companies talking about their use of AI or their research into it in a way that doesn’t necessarily reflect reality.” Source link
California approves State Farm’s 22% insurance rate hike with conditions
The California Department of Insurance has been under pressure to stabilize the market, introducing new rules that allow insurers to factor in future climate risks when setting rates. However, these regulations have yet to take full effect, leaving insurers frustrated with a system that, they argue, does not allow them to charge premiums that reflect actual risk….
Renters Insurance: The Important Things College Students Need to Know
As a college student, we know there’s a lot on your mind as the school year approaches. From meeting new friends and gaining independence to writing research papers and eating (sometimes questionable) food in the dining hall, the last thing you want to worry about is insurance. We’re here to help you understand how renters…
Rising health insurance costs strain small US businesses
Health insurance premiums in the US In 2024, the United States experienced a significant increase in health insurance premiums. The average annual premiums rose by 6%, reaching $8,951 for single coverage and $25,572 for family coverage. This uptick was primarily driven by escalating medical costs and heightened utilization of healthcare services. Source link
Cigna Group announces leadership changes
Meanwhile, Nicole Jones, who is chief administrative officer and general counsel, will expand her portfolio of responsibilities to include Cigna Group’s enterprise marketing division. This brings together marketing with other functions Jones already leads including public affairs, federal and state government affairs, legal and HR functions. Source link
US P&C insurance market remains stable but uncertainty looms – report
Managing risk in a shifting market “Major industry headwinds such as social inflation, natural catastrophes, climate change, trade wars, tariffs, and regulatory changes are adding to the market uncertainty,” said Vince Gaffigan, executive vice president and director of risk consulting at Lockton. “Now, more than ever, businesses should be reevaluating their insurance programs to safeguard…