CLIMATEWIRE | The devastation caused by Hurricanes Helene and Milton has sharpened concerns about the financial stability of state-run insurance plans and the escalating climate risks they are taking on. Increasingly intense hurricanes, wildfires and other climate disasters have forced these so-called insurers of last resort into a role typically assumed by the private sector
HOUSTON, Texas (KTRK) — People living in Texas coastal counties will not see a 10% rate hike through the Texas Windstorm Insurance Association (TWIA) next year. This comes after the Texas Department of Insurance rejected the proposal Monday, something the association said was needed to cover increased costs. TWIA, which was created by the state,
(The Center Square) — Louisiana’s auto insurance rates, consistently among the highest in the nation, have become a central concern for both residents and lawmakers. Multiple factors contribute to Louisiana’s soaring auto insurance costs, including the high number of uninsured drivers, frequent natural disasters and a legal environment that is often seen as favorable to…
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Insurance industry payments network One Inc has launched a collaboration with J.P. Morgan Payments. The new partnership integrates J.P. Morgan Payments’ capabilities with One Inc’s PremiumPay and ClaimsPay solutions, giving insurance carriers access to One Inc’s suite of inbound and outbound digital payment services, the companies said in a Tuesday (Oct. 15) news release. “The insurance industry has a unique
BALTIMORE (TNND) — A Maryland-based insurance agency announced the departure of one of its employees Monday after social media users shared footage of him fighting two Washington Commanders fans. The footage flooded social media after the Baltimore Ravens defeated the Commanders 30-23 Sunday. In the video, a blonde-haired White man wearing a Ravens jersey is
BOISE, Idaho (CBS2) — Open Enrollment for health insurance in Idaho begins Tuesday, Oct. 15. Idahoans can enroll in 2025 medical and dental coverage through Your Health Idaho, the state’s health insurance marketplace. Idahoans can use a single application to apply for a tax credit and health insurance and find out the amount of tax
The West African Development Bank (BOAD) has launched the “Shock Resilient Loans” program under its sovereign loan portfolio, covered by parametric insurance against natural and health disasters, supported by Munich Re. The project’s pilot phase covers Benin, Côte d’Ivoire, Senegal and Togo, a loan portfolio in these countries totalling over USD350 million. It combines a
A US-based data solutions provider has begun rolling out a unique artificial intelligence model built specifically for the insurance industry’s needs — a welcome solution for carriers struggling to implement AI. Data analytics company EXL has partnered with technology supergiant NVIDIA to develop an insurance large language model that aims to improve efficiency, accuracy and
As the financial and insurance sectors evolve, the demand for swift and accurate payment systems has never been more pronounced. Legacy systems often need to improve, resulting in delays and errors that can damage customer loyalty and business viability. A PYMNTS Intelligence Report, Fast-Tracking Funds: Finance and Insurance Accelerate Payments, in collaboration with The Clearing