How is P&C insurance benefitting from generative AI?
The possibilities appear to be endless for using generative AI in the property and casualty insurance industry. We asked an expert to bring us up to date.
Medigap rules vary to the ‘extreme’ from state to state, advocates say
Access to an often much-needed Medigap policy varies greatly by state for those under age 65, while Medicare Advantage plans are often bad choices for those over 65.
Annuity sales set more records in Q4, break $100B, Wink reports
Total fourth quarter sales of deferred annuities were $105.4 billion, Wink, Inc. reports, up 32.9% when compared to the same period last year.
Nearly 80% of near retirees fail or barely pass Social Security basics quiz
Nearly 8 out of 10 (78%) of near retirees failed or barely passed the latest Social Security retirement benefits quiz from MassMutual.
NC appeals court deals another blow to Greg Lindberg’s crippled empire
A North Carolina appeals court partially reversed a lower-court ruling today and affirmed liquidation proceedings against insurers once owned by embattled investor Greg Lindberg.
State Farm accused of evading discovery in lawsuit over total loss values
In a new court brief, plaintiffs accuse State Farm of “evasive tactics” during the discovery phase of a class-action lawsuit over vehicle loss assessments.
P&C rate hikes expected to continue; what’s driving costs up?
High inflation, increased claims costs, climate change and fraud are driving major increases in insurance rates across the United States.
Insurance M&As drop in 2023, but expected to rise again this year
Insurance company merger and acquisition deals fell off the table in 2023, hampered by the rising cost of capital and…
California Gov. Newsom signs best-interest annuity sales bill
California Gov. Gavin Newsom gave industry trade groups a big win Thursday by signing a best-interest annuity sales bill into law.
Armed with Ebix life/annuity assets, Zinnia expands its market presence
With private equity backing and fresh life and annuity assets, Zinnia is making its move in the market, CEO Michele Trogni said.
After ‘throttling’ back in 2023, Lemonade to push growth to reach profitability
After intentionally “throttling” growth in 2023, executives at Lemonade say they expect to accelerate its growth plans by a factor of three.
NAIC issues policies, but not regulation, on ESG investments
NAIC issues ESG insurance sector policies, an expanding metric to grade insurers’ underwriting, investing, or other business decisions.
Bernie Sanders leads Senate debate on retirement crisis, policy
A Senate committee agreed Wednesday that retirement security is a major crisis facing Americans, but disagreed on virtually every detail about the causes and potential solutions.
More Americans forced to make dire decisions amid soaring insurance rates
In the face of escalating home and insurance prices, more Americans are going to new lengths to afford their premiums.
Gov. Gavin Newsom pressured to veto best interest standard in California
California could become the 45th state to adopt best-interest annuity sales rules if Gov. Gavin Newsom signs the bill.
Will lower interest rates cut into fixed deferred annuity sales?
Expected Fed rate cuts might may shift interest away from fixed-rate deferred annuities, according to industry experts.
Life insurers report improved mortality; actuaries say nothing’s changed
Several life insurers cited mortality improvements in the fourth quarter for helping to improve life insurance earnings at the end of 2023.
Wells Fargo, Ameritas reach tentative settlement on STOLI lawsuit
Wells Fargo tentatively settled another federal lawsuit over what plaintiffs are calling a stranger-originated life insurance (STOLI) policy.
Despite Q4 $230M loss, Genworth cites strategic advances
Genworth Financial pleased with the company’s fourth quarter financial results despite reporting a $230 million loss.
