insurance binding News

Update: Citizens Resumes Binding as Rafael Turns Away From Florida

Florida’s Citizens Property Insurance Corp. has lifted its suspension on binding of policies as Hurricane Rafael turned away from Florida and was tracking toward Mexico and was expected to weaken. Citizens, the largest property insurer in the state, ended the …

Thanks to AI, Industry Will Soon See Big Jump in Parametric Insurance, Consultant Says

Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly to data-driven AI …