Category(s): - 10/05/2025

First-quarter insured losses from natural catastrophe activity totaled an estimated $60 billion, according to Aon, making it the second-most expensive first quarter on record. Losses were driven mainly by the wildfires in California during January. Click <a href="https://www.businessinsurance.com/added-reinsurance-capacity-easily-handles-higher-demand-aon-report/" target="_child">here </a> to read more from Business Insurance.

Category(s): - 10/05/2025

The law establishes a $250 million investment for AI-related efforts at Cyber Command. Meanwhile, U.S. Indo-Pacific Command would get $1 million devoted to offensive cyber capabilities. INDOPACOM’s territory includes China, Russia and North Korea, which make up most of the top nation-state cyberspace adversaries targeting U.S. and Western interests. Click <a href="https://www.nextgov.com/cybersecurity/2025/07/dod-gets-millions-cyber-capabilities-under-gop-reconciliation-package/406540/" target="_child">here </a> to read more from Nextgov/FCW.

Category(s): - 10/05/2025

A recent survey by Wipro found that North American insurers have more than doubled the share of their IT budgets allocated to AI, rising from 8% in 2024 to over 20% within a few years. Technologies once limited to advanced underwriting, such as machine learning and predictive analytics, are now used across customer service, claims and fraud detection. Click <a href="https://www.insurancebusinessmag.com/us/news/technology/insurers-expand-ai-use--report-542713.aspx" target="_child">here </a> to read more from Insurance Business.

Category(s): - 10/05/2025

Issuance of catastrophe bonds and related insurance-linked securities (ILS) approached a massive $10.5 billion for the second quarter of 2025, growing the outstanding cat bond market by $4.6 billion to a new end of quarter high of $56.7 billion, Artemis’ new quarterly cat bond market report shows. Click <a href="https://www.artemis.bm/news/massive-10-5bn-q2-accelerates-2025-catastrophe-bond-issuance-report/" target="_child">here </a> to read more from Artemis. 

Category(s): - 10/05/2025

The packed agenda featured topics such as: the use of genetic testing in life insurance underwriting; alternative funding programs; insurers’ use of artificial intelligence; wildfire prevention and liability issues; prescription drug affordability boards; trends and innovations in long term care insurance coverage and financing; the recently passed federal reconciliation bill; prior authorization reform efforts; insurer’s use of aerial imaging; and more. Click <a href="https://insurancenewsnet.com/oarticle/ncoil-discusses-genetic-testing-in-life-insurance-underwriting" target="_child">here </a> to read more from InsuranceNewsNet.

Category(s): - 10/05/2025

According to AM Best, the longstanding factors behind the captive composite’s outperformance of the broader commercial lines market remain intact, namely, effective claims and risk management, strict control over operating costs, and a disciplined, targeted underwriting approach. Click <a href="https://www.reinsurancene.ws/us-captive-insurance-firms-continue-to-outpace-commercial-market-peers-am-best/" target="_child">here </a> to read more from Reinsurance News. 

Category(s): - 10/05/2025

On August 1, Shelley Yim assumed the role of Northern California Market Leader. With more than 15 years of experience at Aon, she currently serves as Chief Client Officer for the West Region. In her new role, Yim will lead efforts to drive growth, strengthen client relationships, support colleague engagement, and foster community involvement across the region. She has previously held regional leadership roles and managed global risk management clients. Yim also serves as the Northern California Executive Director for the Asian American Insurance Network. Click <a href="https://www.insurancejournal.com/news/west/2025/08/05/833590.htm" target="_child">here </a> to read more from Insurance Journal and <a href="https://www.reinsurancene.ws/shelley-yim-appointed-as-aons-northern-california-market-leader/" target="_child">here </a> to read more from Reinsurance News. 

Category(s): - 10/06/2025

In 2024, California’s private self-insured employers reported a 7.4% drop in workers’ compensation claims, reaching a four-year low in claim frequency. However, average paid and incurred losses per claim increased for the second consecutive year, driving total losses higher. Despite fewer claims, rising medical and indemnity costs contributed to a 3.9% increase in total paid losses. Click <a href="https://www.insurancejournal.com/news/west/2025/07/03/830081.htm" target="_child">here </a> to read more from Insurance Journal. 

Category(s): - 10/06/2025

The Garnet Fire in California’s Sierra National Forest has burned over 13,900 acres and remains 0% contained. While recent rain helped slow its spread, firefighters continue to battle the blaze with air support and ground crews, focusing on preventing westward expansion. Officials remain on alert for potential new fires due to lightning strikes in the area. Click <a href="https://www.insurancejournal.com/news/west/2025/08/28/837323.htm" target="_child">here </a> to read more from Insurance Journal.

Category(s): - 10/06/2025

On July 16, Governor Ron DeSantis appointed Florida Congressman Blaise Ingoglia as Florida Chief Financial Officer, a statewide elected position vacated when Jimmy Patronis ran successfully for Congress in a special election this year. Click <a href="https://www.wusf.org/politics-issues/2025-07-16/desantis-appoints-senate-ally-ingoglia-florida-cfo" target="_child">here </a> to read more from WUSF.