The insurance coverage trade and public sector each play a important 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 give attention to the U.S. market and the areas of danger that extra states are assuming. There was quite a lot of information concerning the position of the general public sector in property danger—particularly after Hurricane Ian left many purchasers in Florida questioning how wind and flood injury can be lined. As we start Atlantic Hurricane Season 2023, we discuss what forecasters are predicting and the way insurers may also help clients to grasp their dangers and the way coverages are supplied.
States are additionally assuming an even 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 observe. We talk about what this implies for patrons and the long-term care merchandise the trade has historically supplied.
We additionally discuss concerning the information insurers are utilizing to higher perceive the dangers their clients face. There are strikes on the state degree to restrict what varieties of knowledge carriers can use to underwrite and value danger. We take into account what impacts such limitations could have as insurers increase the workforce with AI capabilities.
