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Digital Insurance connects the insurance business & technology communities.

The July flash floods that devastated Texas communities washed away the illusion that “low-risk” areas are safe from flo...
08/15/2025

The July flash floods that devastated Texas communities washed away the illusion that “low-risk” areas are safe from flood damage, writes Lanie Raphael, president at B. F. Saul Insurance.

Entire inland communities, many outside of FEMA-designated flood zones, were hit hard, often without the protection of flood insurance. In total, the damage is expected to reach up to $22 billion.
https://bit.ly/4oCGJnT

Even so-called 'low-risk' zones are now vulnerable to flooding from shifting weather patterns, overwhelmed sewer systems and rapid growth.

Lenders and banks moved to foreclose on more than 36,000 homes this past July–a 13% increase from the same time last yea...
08/15/2025

Lenders and banks moved to foreclose on more than 36,000 homes this past July–a 13% increase from the same time last year–and one out of every 3,939 homes had a foreclosure filing for a rate of .025 percent. One of the many contributing factors to the rise is the end of various mortgage relief programs.


https://bit.ly/45CZ6jZ

Between rising home costs and the end of mortgage relief programs, many homeowners are struggling to stay above water, especially in the South and West.

California’s homeowners insurer of last resort, the FAIR Plan, became the focus of regulatory issues after the January w...
08/15/2025

California’s homeowners insurer of last resort, the FAIR Plan, became the focus of regulatory issues after the January wildfires. Here’s a recap of recent coverage of state insurance commissioner Ricardo Lara’s actions and court cases involving the FAIR Plan’s finances and handling of claims.

https://bit.ly/4lmNMy5

California's insurer of last resort faces regulatory orders and court fights over its funding and claims handling. The following articles track developments concerning the FAIR Plan in recent months.

National Association of Insurance Commissioners hears from Missouri Department of Commerce & Insurance and Texas Departm...
08/14/2025

National Association of Insurance Commissioners hears from Missouri Department of Commerce & Insurance and Texas Department of Insurance on tornado and flooding recoveries.

“Some zip codes had up to 70% owner occupied dwellings that were uninsured, and 90% of renter occupied dwellings were uninsured,” Brad Gerling of the Missouri department told NAIC’s FEMA Working Group. “Knowing these estimates was very important for disaster recovery.”

Parts of St. Louis, Missouri hit by a tornado on May 16 had high rates of uninsured properties, Brad Gerling, research data analysis manager at the Missouri Department of Commerce and Insurance, told NAIC's FEMA Working Group, at its summer meeting in Minneapolis on August 12.

Financial volatility is the top concern for U.S. risk managers, according to a survey by the Casualty Actuarial Society ...
08/14/2025

Financial volatility is the top concern for U.S. risk managers, according to a survey by the Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA). A senior SOA researcher explains why.

“Risk managers identified financial volatility as a current risk 24% more frequently than the previous survey in November,” said David Schraub, senior practice research actuary at SOA.

Financial volatility is top concern for U.S. risk managers, according to the Mid-year Flash Survey from the Casualty Actuarial Society and the Society of Actuaries.

National Association of Insurance Commissioners is bracing for FEMA Federal Emergency Management Agency dropping respons...
08/14/2025

National Association of Insurance Commissioners is bracing for FEMA Federal Emergency Management Agency dropping responsibilities onto state governments, according to Alexander Swindle, senior policy advisor at NAIC.

“Since March, the administration has advanced reforms aimed at reducing the federal footprint in disaster response, shifting FEMA’s role and placing more responsibility on the states,” Swindle said. “These changes are going to have some pretty significant implications for mitigation, consumer protection and insurance markets.”

https://bit.ly/45iqwg7

NAIC, the association of state regulators, is expecting FEMA to send more of its responsibilities to state governments.

Cover Whale Insurance Solutions gets $40 million funding led by Morgan Stanley, plus more news on funding rounds from Qu...
08/13/2025

Cover Whale Insurance Solutions gets $40 million funding led by Morgan Stanley, plus more news on funding rounds from Quandri, INSHUR, Loro, CertifID and Laka.

“Morgan Stanley Expansion Capital's transition from lender to equity partner is a gratifying affirmation of the tremendous progress made over the past few years," said Dan Abrahamsen, founder and CEO of Cover Whale, in a statement.

https://bit.ly/4ozEwJK

There were about 52 funding events in the insurtech sector between July 1 and July 31, 2025, according to a review by Digital Insurance.

Nazy Fouladirad, president and COO, Tevora, has advice on how to prevent cybersecurity breaches.“While it can be easy to...
08/13/2025

Nazy Fouladirad, president and COO, Tevora, has advice on how to prevent cybersecurity breaches.

“While it can be easy to focus on the negatives when trying to recover systems or navigating various compliance regulations, there is a lot of valuable information that can be gained from going through this challenging process,” she writes.

https://bit.ly/3JgAkhQ

An in-depth assessment of a cyber breach can provide valuable insights to prevent future incidents.

Senator Adam Schiff’s INSURE Act bill, previously proposed when he was in the House, appears stalled again.“Too many fam...
08/13/2025

Senator Adam Schiff’s INSURE Act bill, previously proposed when he was in the House, appears stalled again.

“Too many families and small businesses are struggling to keep up with the rising costs of insurance, and steep year-after-year price increases are simply unsustainable,” Sen. Schiff said in a statement.

Sam Whitfield of the American Property Casualty Insurance Association said the bill doesn’t solve the causes of increased home insurance premiums.

https://bit.ly/41GBiKC

Insurance industry advisors and groups say the INSURE Act proposal for a catastrophic reinsurance program won't solve rising prices and coverage crisis.

AI insurance will reach $4.8 billion by 2032, according to a Deloitte Center for Financial Services analysis.“While AI a...
08/12/2025

AI insurance will reach $4.8 billion by 2032, according to a Deloitte Center for Financial Services analysis.

“While AI adoption is building momentum across industries, as well as in everyday life, so does the potential for AI-associated risks,” Grace Crane writes.

The need for an insurance policy that covers AI risks is growing with the adoption of AI technologies.

The time for insurers to act on agentic AI is now, says EY insurance leader Isabelle Santenac. “You cannot wait and see ...
08/12/2025

The time for insurers to act on agentic AI is now, says EY insurance leader Isabelle Santenac.

“You cannot wait and see what will happen. People need to embrace that, because it will be too late if they wait to look at what's going on. The technology works.”

EY's insurance expert, Isabelle Santenac, spoke with Digital Insurance about how insurers are managing technology advances, as well as increasing climate and security risks.

Personalized, usage-based and telematics-driven auto insurance is the future, writes Druti Banerjee of The Insight Partn...
08/11/2025

Personalized, usage-based and telematics-driven auto insurance is the future, writes Druti Banerjee of The Insight Partners.

“Think of a future when a policy isn't written based on a customer's ZIP code or age, but on the way they drive,” she writes.

https://bit.ly/4fp9YpQ

Telematics is revolutionizing car insurance through usage-based policies and personalized risk management options.

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