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Mar 07
CEO: Bill to Limit Cancellations is Bad Idea

​The chief of two property insurers poised to enter the Florida market warns against state legislation to place limits on policy cancellations, reports the Insurance Journal (3/5/24, Rabb).

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Mar 07
Cat-Bond Demand Pegged to Grow

Observers expect demand for catastrophe bonds and other insurance-related securities to grow in 2024, although an active hurricane season could create market risk and alter the upward trajectory, reports IBA magazine (3/6/24, Schloeff). 

Mar 07
How Tech Enables Fraudsters

​A growing epidemic of web-based insurance fraud is adding to operational and consumer costs and experts advise insurers to train employees to prevent it and add or expand investigative units, reports Insurance News Net (3/5/24, Bailey).​

Mar 07
Disasters, Inflation Continue to Drive Rates

​There is swelling concern about the cost of auto and homeowners insurance across the country as inflation and natural disasters drive up rates, reports NPR (3/3/24, Horsley). U.S. property insurers on average sought to raise rates by 11 percent in 2023, the report notes. A ripple effect from rising insurance costs is causing condominium fees to jump across multiple states, including Hawaii, reports Hawaii News Now (3/6/24, Martinez). In California, another insurer is pulling back there and in eight other states, reports IBA magazine (2/29/24, Sellers). The growing frequency of disasters has some federal officials mulling federal industry regulation, reports IBA magazine (3/5/24, Schoeff).​

Mar 07
Many Panhandle FIre Victims Uninsured

​The historic wildfire burning across the Texas Panhandle could leave many residents whose homes were destroyed without clear means of financial recovery because they did not have property insurance, reports The Texas Tribune (3/5/24, Fetcher).​

Mar 07
Bill Seeks Limits on Future Blue Cross Sale

Just weeks after its $2.5 billion sale fell apart, proposed legislation would create new rules to make it harder for Blue Cross Blue Shield of Louisiana to pursue another sale down the road, reports the New Orleans Times-Picayune (3/5/24, Riegel).

 


Mar 07
FEMA: Diversion Project Won't Impact Flood Rates

​A Federal Emergency Management Agency official said the $3 billion Mid-Barataria sediment-diversion project will not have an effect on flood-insurance rate maps for Plaquemines Parish, reports the New Orleans Times-Picayune (3/5/24, Schleifstein). State coastal officials affirmed their commitment to the biggest coastal project ever amid concerns that the latest delay could mean it would be shelved, reports the Times-Picayune (3/1/24, Schleifstein). There appears to be growing debate over the best approach to fixing the state's vanishing coastal land, reports The Advocate (3/3/24, Smith). Meanwhile, Gov. Jeff Landry's new task force focused on the New Orleans' drainage system will meet to propose fixes to bring before lawmakers this spring, reports the Times-Picayune (3/7/24, Myers).​

Mar 07
New Momentum for Stalled Floodworks

​U.S. lawmakers are expected to provide funds to move ahead on the long-delayed Comite River flood-control project near Baton Rouge and another regional project to reduce flood risk as part of federal budget legislation, reports The Advocate (3/5/24, Ballard).

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Mar 06
Dive into the Artificial Intelligence Ocean

Today's agents receive many questions about today's use of artificial intelligence (AI), how our stakeholders should be thinking about it, what the concerns are, and where to consider making investments. In short, does ACT have a position on AI? A position on AI? Something so incredibly vast, powerful, scary, and relatively early in our true understanding. As a complete and total diversion, this made me think of the oceans.

Read the rest of the article here > https://www.iiabl.com/information/Pages/LAAgent/default.aspx

Mar 06
6 Steps to Implementing Automation

Demand for business automation has increased over the last two years, according to a 2022 survey by Salesforce and Vanson Bourne. Meanwhile, the robotic process automation (RPA) software market grew 19.5% in 2022 compared to 2021 and was anticipated to finish 2023 with 17.5% growth, according to an August 2023 analysis from Gartner. By 2025, 70% of organizations will implement full automation in infrastructure and operations, an increase from 20% in 2021.

Read the rest of the article here > https://www.iiabl.com/information/Pages/LAAgent/default.aspx

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About this blog
No, this isn't actually my picture. I just haven't gotten around to updating this section. It's good to know that someone is reading every last word though. Thanks!