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Mountain Life Insurance enters Oklahoma market
Mountain Life, headquartered in Lexington, Kentucky, has been offering insurance products since 1972. The company stated it is preparing to appoint agents and connect with policyholders in Oklahoma. It operates with a focus on customer service, operational efficiency, and long-term value creation for policyholders. Source link
State Farm rate hike – California regulator did not calculate impact of proposed move
Last year, State Farm filed for property/casualty rate increases of 30% to 55%, citing concerns about maintaining solvency. The proposed hikes include a 30% increase for non-tenant homeowners, 55% for condominium coverage, 41.6% for tenant policies, 53.6% for personal liability umbrellas, 38% for rental property damage, and 55% for business owner policies, according to the…
Hawaii Senate introduces bill allowing insurers to subrogate claims against polluters
Lee said that, if enacted, the law would likely be the first of its kind in the US. However, similar proposals have been introduced in other states. In January, a bill was introduced in the California Senate that would grant policyholders and insurers the ability to file civil suits against fossil fuel companies. Source link
Human talent still trumps AI
Despite acceleration of technology, risk takers are key for insurance companies, says industry veteran Source link
Insurance moves: EmPRO, Origin Specialty, Marsh and Coalition
They include Marsh swooping for a top Aon executive Source link
How Burns & Wilcox stays on top in the E&S market
Burns & Wilcox has also leaned into technology, launching a major investment initiative in 2020 to overhaul its digital infrastructure. The company has introduced AI-driven tools to streamline operations and improve market insight. “We’re using AI not to replace people, but to enhance what they do – removing repetitive tasks and giving us better data…