New Jersey becomes 50th state to adopt best-interest standards for annuities

Farrah Ata (pictured), a property and casualty insurance broker for Willis Towers Watson’s M&A practice, has had a front-row seat to these shifts. From automated manufacturing to cyber benchmarking tools, her work reveals how insurers are building tailored verticals for risk lines that didn’t exist ten years ago – and using that infrastructure to accelerate…

While Lemonade continues to expand its auto insurance business, it has also reported significant growth in its marketing investments. In the fourth quarter of 2024, the company’s sales and marketing expenses climbed to $36 million, up from $13.4 million in the same period the previous year. “Alongside this acceleration, we remained laser focused on marketing…

Nicole Maccalla, an Altadena resident, was among the first to experience the frustration of navigating insurance claims. Her home suffered significant damage from embers, leaving it filled with soot, ash, and debris. Despite initially being told by USAA that contamination testing would be covered, Maccalla’s claim was later denied. Source link

Notably, before the Elon Musk-led Department of Government Efficiency (DOGE) officially took off, a coalition of nine state insurance commissioners from Alabama, Arkansas, Kansas, Louisiana, New Hampshire, North Carolina, Oklahoma, Tennessee, and West Virginia issued a joint letter to the agency urging the elimination of the FIO. Source link

One firm announces a new CEO, and another a new CFO Source link

“A decade ago, 10-year policies were common. Five years ago, five-year terms were easy to secure,” she said. “Now, many carriers limit policies to three years, or even just one year in some cases. This shift stems from growing uncertainty – insurers want the flexibility to reassess risks annually, accounting for changes in regulations, climate,…