Catastrophic events during the prior year had a substantial impact, with the company paying out approximately $11.4 billion in catastrophe-related claims during the year. For instance, in mid-July 2024, severe convective storms across several states resulted in about 14,000 claims filed with State Farm.
Jon Ward, APCIA’s department vice president of public affairs, emphasized the industry’s commitment to assisting policyholders, stating, “When disaster strikes, insurers’ overwhelming priority is to help their customers rebuild and restore their property.” Source link
“If the problem stems from the design, manufacturing, sale or installation of the product (including training and maintenance), E&O coverage can help ensure that your client’s business is protected from financial fallout,” said Harsch. “For example, if a manufacturing flaw causes a third-party business to lose revenue or incur recall costs, E&O insurance can help…
APCIA represents home, auto, and business insurers nationwide and advocates for competitive private insurance markets. Its members include insurers of all sizes and structures, serving families, communities, and businesses across the US and globally. Source link
From supporting operational efficiency to alleviating clinician workload, AI is becoming embedded in core healthcare functions. While private equity investment in digital health declined in 2023, CFC observed sustained interest in AI-powered technologies, which remain a key driver of sector transformation. Source link
Lloyd’s 2024 results Gross written premium for the year, meanwhile, rose to £55.5 billion, up from £52.1 billion in 2023, representing a 6.5% increase. The growth was driven primarily by an 8.5% rise in volume, including 7.6% from existing syndicates and 0.9% from new entrants. Source link
From supporting operational efficiency to alleviating clinician workload, AI is becoming embedded in core healthcare functions. While private equity investment in digital health declined in 2023, CFC observed sustained interest in AI-powered technologies, which remain a key driver of sector transformation Source link
