The insurance coverage business and public sector each play a vital position in serving to to mitigate danger for patrons and constituents. However, as prices to insure property and long-term care within the U.S. rise, states more and more turn into the insurers of final resort.
On this Insurance coverage Information Evaluation, we deal with the U.S. market and the areas of danger that extra states are assuming. There was a variety of information in regards to the position of the general public sector in property danger—particularly after Hurricane Ian left many purchasers in Florida questioning how wind and flood harm can be lined. As we start Atlantic Hurricane Season 2023, we discuss what forecasters are predicting and the way insurers will help prospects to know their dangers and the way coverages are supplied.
States are additionally assuming a much bigger position in dangers past property. The State of Washington simply launched its public long-term care program, and Missouri and California are poised to comply with. We focus on what this implies for patrons and the long-term care merchandise the business has historically supplied.
We additionally speak in regards to the knowledge insurers are utilizing to raised perceive the dangers their prospects face. There are strikes on the state stage to restrict what sorts of knowledge carriers can use to underwrite and worth danger. We think about what impacts such limitations might have as insurers increase the workforce with AI capabilities.