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The insurance coverage trade and public sector each play a important function in serving to to mitigate threat for purchasers and constituents. However, as prices to insure property and long-term care within the U.S. rise, states more and more grow to be the insurers of final resort.
On this Insurance coverage Information Evaluation, we concentrate on the U.S. market and the areas of threat that extra states are assuming. There was a number of information in regards to the function of the general public sector in property threat—particularly after Hurricane Ian left many purchasers in Florida questioning how wind and flood harm can be lined. As we start Atlantic Hurricane Season 2023, we discuss what forecasters are predicting and the way insurers can assist prospects to know their dangers and the way coverages are supplied.
States are additionally assuming an even bigger function 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 focus on what this implies for purchasers and the long-term care merchandise the trade has historically provided.
We additionally speak in regards to the information insurers are utilizing to raised perceive the dangers their prospects face. There are strikes on the state stage to restrict what varieties of information carriers can use to underwrite and value threat. We contemplate what impacts such limitations might have as insurers increase the workforce with AI capabilities.
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