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- Insurance News Digest 1-8-2025
Insurance News Digest 1-8-2025
Happy New Year! This week you'll find trends to prepare for in 2025, softening of the commercial insurance market, and the acquisition of The General.
We deliver the latest insights and developments shaping insurance, focused on insights and opportunities for those who serve the insurance industry. Stay informed on how emerging trends like current events, regulatory changes, AI, and innovative products can help you better serve your clients and partners and drive business growth.
Sentry finalizes its $1.7 billion acquisition of The General, expanding its presence in non-standard auto insurance.
Property insurance sees pricing relief while liability lines increase, highlighting mixed market dynamics.
The catastrophe bond market achieved a new high in 2024, with $17.7 billion issued, driving market growth to $50 billion.
Manulife concludes a $5.4 billion reinsurance transaction with RGA, covering legacy long-term care reserves.
AI adoption shifts from pilots to widespread implementation, reshaping underwriting, fraud detection, and claims.
Analysis highlights key trends in collision claims for 2025, including repair costs and claims processing advances.
Automated SMS tools improve policyholder retention through timely, personalized communication.
Commercial rates rose 3.8% in 2024, while property lines eased, reflecting diverse market conditions.
The U.S. government completes $4.3 billion in restitution to victims of Bernard Madoff’s Ponzi scheme.
ICEYE secures $65 million to enhance its synthetic aperture radar satellite technology for risk and disaster response.
A major storm is forecasted for Texas, raising risks of power outages and transportation disruptions this week.
New Florida regulations for condominiums increase costs and enforcement deadlines for owners and associations.
A Florida court ruled Uber is not liable for an accident as the driver was not logged into the app at the time.
Following fatal incidents, Turo strengthens safety measures and support for its operations and users.
Federal regulators investigate Tesla’s Smart Summon feature amid concerns it may cause accidents.
Old Republic establishes a new division focused on cyber and technology errors and omissions insurance.
A Florida appellate court rules on assignment-of-benefits agreements, potentially ending disputes over AOB legality.
The Swiss Re Cat Bond Index achieved a 17.29% return in 2024, marking its second-highest performance in history.
Key barriers to successful digital transformation include poor data strategies and lack of employee buy-in.
Security First Insurance introduces new property insurance offerings tailored for Florida’s evolving climate risks.