The insurance industry is facing a new challenge with tariffs, according to AM Best. Tariffs are expected to negatively impact the industry in many ways. This article will discuss the AM Best report and how tariffs affect insurance, including premiums and sector stability. The insurance industry is a big part of the US economy. Any …
California has seen one of the biggest insurance payouts, with over $4.2 billion for the Eaton and Palisades wildfires. This huge amount shows how severe the damage from these fires was. The insurance claims process has greatly helped those affected, with this $4.2 billion payout being a big step towards recovery. The Eaton and Palisades …
The pet insurance market is growing fast. More pet owners want to give their pets the best care. They don’t want to spend too much money on vet bills. The market is expected to hit $4.5 billion soon, making it crucial for pet owners. Vet costs are going up, and people treat their pets like …
The year 2024 saw a big jump in natural disasters, leading to a record number of insured events worldwide. Many areas have faced severe weather, floods, and wildfires, which have hit the insurance industry hard. The insurance industry has suffered huge losses due to these disasters. With so many natural catastrophes, 2024 has been tough for the industry. Key Takeaways …
The insurance world is changing fast with new digital tech. This is making digital insurance grow. Tech is now changing how companies work, talk to customers, and offer services. It makes things more efficient and better for customers. Digital insurance is getting better with new tech. It’s important to see how tech is changing the …
The recent California wildfires have raised concerns about reinsurance losses. The LA wildfires have caused a lot of damage to properties and infrastructure. This has made the insurance market worried, as California wildfires are a common problem. Reinsurance losses are expected to be big, but the industry is ready. They have prepared for this, learning …