In 2024, USAA returned $2.2 billion to members through distributions, dividends, and banking rebates and rewards. The company also paid $4.3 billion in catastrophe-related claims. It also reported process improvements, including a reduction in average catastrophe claims processing time from 14 days to seven days, using advanced technology.
Using their supply chain data, businesses can model tariff exposure based on where goods come from, how much is spent, and where products are sold. Mitigation strategies, such as “rewiring” your supply chain or redesigning products to reduce exposure from specific components, can then be explored. Source link
This high-impact, one-day summit brings together industry trailblazers from organizations like Amwins, Lockton, Zurich North America, PURE Insurance, AmTrust Financial Services, and Nationwide to spark conversations, share strategies, and champion change. Whether you’re climbing the career ladder or already leading the way, this event is your gateway to powerful learning and meaningful connections. Source link
Cyber capacity expansion Capacity in the cyber insurance market has also expanded, making it easier to secure $5 million and $10 million limits for primary and excess coverage, RPS reports. While certain industries, such as public entities, education, and healthcare, still face capacity challenges, the ability to source higher limits has improved. RPS attributes this…
As cyber threats escalate, cyber insurance is emerging as a critical safeguard for businesses, particularly small and midsize enterprises (SMBs) with limited cybersecurity resources. Coalition’s Cyber Threat Index 2025 underscored the growing role of insurance in mitigating financial and operational fallout from cyberattacks, highlighting ransomware as a leading driver of claims. Source link
Business insurance also recorded a combined ratio of 94.4 and an underlying combined ratio of 88.4, matching results from the prior-year period. In the personal insurance segment, the combined ratio was 106.1, while the underlying combined ratio improved by 6.4 points year-over-year to 89.7. Source link
