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Although they were less common, fire and lightning claims were the losses with the highest claims severity from 2017-2021.
Companies will have to report cyber incidents within four days of determining they're material.
In 2022, the number of dog-related injury claims declined 2.2%, according to the Triple-I.
Annual insurance reviews are integral to avoiding coverage gaps.
The first half of the year also saw cyber insurance claims ticked up 12%, driven by an increase in ransomware and funds transfer fraud.
Insurance technology news from INSTANDA, Mylo, Glia and more.
Reinsurance allows a primary carrier to pass, or cede, a portion of its liabilities onto another company.
Higher interest rates are translating into higher returns on insurer investments, according to the Swiss Re Institute.
The latest insurance industry personnel news from CSAA Insurance Group, atNorth, Kennedys and more.
Gender discrimination is being addressed as part of the insurance industry's support of DEI initiatives.