Browsing: Insurance industry

Insurance Europe responds to EIOPA’s draft opinion on AI governance, cautioning that it may create new compliance burdens despite not intending to impose new regulations

Four major consumer groups have slammed the insurance industry for continuing to support fossil fuel projects, arguing it exacerbates climate change and leads to higher homeowners insurance premiums.

Global business travel accident insurance market expected to witness significant growth due to increased corporate travel and emphasis on employee well-being

Insurance broker Stephen Carey’s commitment to volunteering with Foodbank Queensland highlights the growing importance of charity work in Australia’s insurance industry

MetLife Bangladesh paid out Tk2,895 crore in insurance claims in 2024, maintaining a strong claims settlement ratio of 97.79%, according to data from the Insurance Development and Regulatory Authority (IDRA).

South Korean financial authorities are introducing new regulations to ensure the soundness of insurance companies, including stricter capital requirements and accounting standards.

The shutdown of NOAA’s disaster database has insurers scrambling for alternative data sources, potentially increasing costs for policyholders

Lifenet Insurance Company’s annualized premium reaches 34,674 million yen in April 2025, driven by a 220% surge in group credit life insurance premiums.

UK insurers paid a record £226 million in weather-related home insurance claims in early 2025. Across the Atlantic, Texas homeowners face a 43% surge in insurance premiums since 2023. The insurance industry is buckling under climate-driven disasters, making coverage unaffordable or unavailable in high-risk areas.

Farmers National Insurance announces Matt Parise as its new president, succeeding Ben Bowers who retired in Q4 2024. Parise will lead insurance strategy and business expansion.