Category: Insurance

Waymo has announced plans to test self-driving cars in 10 more U.S. cities, including San Diego and Las Vegas, in 2025. After years of slow progress and technical roadblocks, this expansion signals that autonomous vehicle (AV) technology is finally gaining ground.

But not everyone’s on board. A recent AAA survey revealed that 6 in 10 U.S. drivers are scared to ride in a self-driving car. This fear is holding back adoption, even as companies like Waymo, Tesla, and Cruise continue testing and expanding AV programs across the country.

With this in mind, The General decided to look into the safety of autonomous vehicles using real-world data from the National Highway Traffic Safety Administration (NHTSA), the U.S. Department of Transportation, and The Robot Report. This article breaks down how the technology works, crash rates, disengagement factors, and what problems still need solving.

How Autonomous Vehicle Technology Works

Autonomous vehicles use a mix of sensors, machine learning, and real-time decision-making to drive without human input, but not all systems are created equal. The NHTSA makes an important distinction between Automated Driving Systems (ADS) and Advanced Driver Assistance Systems (ADAS). ADS controls the car entirely in specific conditions, while ADAS supports human drivers with features like lane-keeping or automatic braking.

Self-driving cars use radar, lidar, cameras, and onboard computers to monitor their surroundings and respond quickly to what’s happening on the road. These tools help the vehicle track traffic, road conditions, and obstacles. Artificial intelligence takes in all that information and makes fast decisions, similar to how a human driver would react. Even with all that tech, companies like Waymo still rely on human drivers during testing as part of their safety practices. These drivers are trained to jump in if something goes wrong.

Waymo’s autonomous vehicles have driven over 56 million miles in the U.S. so far. Data from these experiences helps refine the technology, improve safety protocols, and build trust with the public and regulators.

Safety Performance: What the Data Shows

According to the NHTSA Standing General Order Crash Reporting Database, AVs have been involved in over 3,900 crashes from 2019 through mid-2024. Of those, 496 resulted in injuries or fatalities. Here’s how those numbers have grown since 2021:

• 2019: 4 crashes
• 2020: 25 crashes
• 2021: 641 crashes
• 2022: 1,450 crashes
• 2023: 1,353 crashes
• 2024 (Jan–June): 473 crashes

As self-driving cars log more miles, the big question isn’t how many crashes they’re involved in, but how often. Raw numbers don’t tell the whole story, especially as more AVs hit the road.

From 2021 and 2023, self-driving cars had a much higher crash rate per 1,000 vehicles than human-driven ones. The gap has narrowed, dropping from 85.5 per 1,000 in 2022 to an estimated 35.6 in 2024, but that’s still almost double the human driver rate, which hovered near 20 per 1,000 vehicles.

AV tech still has room to grow, but it’s improving. According to Waymo’s safety impact report, their self-driving cars have significantly reduced the rates of crashes involving injuries, airbag deployments, and police reports compared to human drivers in Phoenix and San Francisco.

Disengagements: When Humans Take Over

Even the most advanced self-driving cars aren’t fully self-sufficient yet. A key measure of progress in AVs is the disengagement rate, when the vehicle either hands control back to a human or the human safety driver decides to take over. These moments are important for spotting weak points in the technology.

A recent U.S. Department of Transportation report breaks down the most common reasons AVs disengage. The most common causes included:

• Control errors. The car failed to execute the driving plan correctly, such as turning, stopping, or steering.
• Planning failures. The system couldn’t figure out a safe, legal path to keep driving.
• System issues. The car didn’t perform the way it was supposed to during regular driving conditions.
• Perception gaps. The AV struggled to detect nearby objects or traffic accurately.
• Prediction errors. The system couldn’t correctly forecast how other drivers or pedestrians would move.

Ongoing Issues and Challenges

One of the biggest challenges for self-driving cars is handling complex, unpredictable situations. Things like human behavior, construction zones, and bad weather can throw them off. They also struggle with subtler moments, like reading signals from a traffic cop or reacting to drivers who break the rules. These movements can be difficult to account for in advance, which makes it hard to guarantee safety in every scenario.

Today’s AI isn’t ready for everything the road can throw at it. That’s why companies like Waymo are putting so much time and energy into making it smarter. Waymo is building AI models that don’t just follow the rules. They’ll also be designed to see and react to the world around them more like a human would. These models aim to combine driving experience with broader reasoning skills, so the system recognizes patterns, predicts how others might behave, and makes smarter decisions in real time.

But there’s still the problem of AV data collection and reporting. Safety and disengagement reports vary from one manufacturer, state, and testing program to the next. A lack of standardization or clear benchmarks makes it difficult to compare performance results and get a clear picture of what’s working, what’s not, and how safe these vehicles actually are.

Moving Forward: Trust, Testing, and Transparency

No longer a futuristic concept, self-driving cars are here, and they’re improving. AVs have logged millions of miles and learned from thousands of incidents. They’ve also started to narrow the safety gap with human drivers, but they’re not there yet when it comes to fully replacing people behind the wheel.

Disengagements, perception errors, and planning failures are still common. To move forward, the industry needs transparent safety data and standardized reporting. Without that, it’s hard to know which systems are truly getting better and which just look good on paper.

Public trust also matters. Most drivers still feel uneasy about self-driving cars. Building confidence will take more real-world testing, smarter regulations, and continual tech improvements, not just promises from AV companies.

Autonomous driving isn’t perfect, but it’s evolving fast. If the industry can balance innovation with responsibility, the next few years will be a turning point.

Methodology

This study leveraged the NHTSA CrashStats, NHTSA ADS-Equipped Vehicle Crashes, and The Robot Report to compare the accident rate of human driving vs. automated vehicles. Additionally, it referenced the 2023 U.S. Department of Transportation Highly Automated Systems Safety Center of Excellence report to understand the most common ADS disengagement causal factors.

This story was produced by The General and reviewed and distributed by Stacker.

For lawyers and attorneys, legal malpractice insurance is an absolute must-have policy. That’s because malpractice claims are an unfortunate reality for most lawyers — in fact, the ABA estimates that four out of five lawyers face at least one malpractice lawsuit at some point in their careers. Not only does this insurance protect lawyers from costly claims, but in many cases, it is a legal requirement. Whether you run a solo practice or a large firm, having a legal malpractice policy is essential for just about every attorney. 

In this comprehensive guide, we’ll walk you through the process of getting legal malpractice coverage and provide some helpful tips for choosing the right policy for your practice.

Guide to purchasing legal malpractice insurance

Recently started a new law practice? Or simply shopping around for a new insurance provider? Purchasing legal malpractice insurance — also known as lawyers professional liability (LPL) insurance — is a rite of passage for essentially every attorney. You can think of this coverage like a parachute. You hope you never have to use it, but you’ll be glad you have it if things go south.

While getting insured isn’t rocket science, finding the right policy is a bit more of a challenge. Here is our step-by-step breakdown on how to get legal malpractice insurance.

Step 1: Evaluate the risks your firm faces

Before you start shopping around for the right policy, analyze which risks pose the biggest threat to your firm so that you can invest in sufficient coverage for each risk area.

These are some of the most common risks that law firms face:

Mistakes and oversight

Have you ever found yourself buried in deadlines and client matters? The harsh reality is that even the most seasoned lawyers make mistakes. For legal professionals, a misinterpretation of a law or a missed filing deadline could spell disaster, leading to severe consequences for both you and your clients. A single error, no matter how small, can lead to costly lawsuits that could potentially destroy your law firm’s reputation and lead to financial ruin.

Area of practice

Your specific legal practice has a huge impact on the type and level of risks your firm is exposed to. Some legal practices are more susceptible to malpractice claims than others. Take these, for example:

• Corporate law: Risk of legal disputes, especially if contracts contain errors or omissions.
• Personal injury: Higher risk of dissatisfied clients, particularly when settlements or verdicts don’t meet expectations.
• Estate planning and family law: Improperly documenting cases or failing to anticipate legal complications can lead to claims.

Data risks

Law firms handle a lot of sensitive client information, making them prime targets for cybercrimes. A data breach can expose confidential legal documents or financial records, leading to costly lawsuits and reputational damage.

While legal malpractice insurance won’t cover most cybersecurity threats, it is important to make sure your firm is aware of the risks posed by cybercrime and data breaches.

To ensure your firm is protected against cyberattacks, invest in a cyber liability insurance policy in addition to your LPL.

Technological risks

Law firms have increasingly begun using technology and software for case management and client communication. These technological improvements make legal processes more efficient — unfortunately, they also expose firms to even more risk.

A software glitch, lost data, or misfiled documents can cause your firm to miss deadlines and receive court sanctions, both of which can open you up to a malpractice suit.

Step 2: Determine the best type of legal malpractice insurance for your firm

Not all legal malpractice policies are created equal. While all policies cover claims stemming from professional errors, the scope of the protection and the coverage terms will vary from policy to policy. So, be intentional about the type of professional liability insurance you choose by considering these different factors before you make a commitment:

• Policy limits
• Policy period
• Deductibles
• Retroactive date for prior acts
• Tail coverage

One final important factor you’ll need to consider is whether to invest in a claims made or occurrences policy.

Claims made

Claims-made policies are the most common type of legal malpractice insurance. With this type, the policy only covers claims filed during the active policy period — regardless of when the incident occurred. This means if you cancel or switch insurers, you’ll likely need to purchase tail coverage to protect against future claims.

Occurrence

An occurrence policy covers claims based on when the alleged malpractice took place. This means that even if the claim is filed after the policy expires, the insurer would still cover it. This type of policy offers long-term protection for past work, but it is less common in legal malpractice insurance and typically comes with higher premiums.

Step 3: Find a reputable insurer

Once you’ve determined the type of malpractice coverage you need and have chosen policy terms that fit your firm’s needs, it’s time to find a trusted insurer. Not all insurance providers offer the same level of protection, financial stability, or customer service, so it’s important to choose wisely. 

Navigating the insurance industry and comparing providers can feel like searching for a needle in a haystack. At the surface level, most providers may seem the same, but the fine print makes all the difference.

Here are some of the most important things to consider when looking for reputable insurance companies:

• Financial strength: You should always check an insurer’s rating on trusted rating services such as AM Best, Moody’s, and Standard and Poor’s. These rating systems assess the insurer’s financial strength.

• Industry reputation: Choose a company with a solid history of working with law firms and a good reputation in the legal industry.

• Reviews: A provider may look great on paper, but first-hand insights from other attorneys are a great way to look for red flags and filter out insurers with a poor track record.

• Customer support: If an issue arises, you’ll want an insurer with helpful and responsive support, not one that leaves you in an endless phone queue.

• Claims handling process: You obviously want an insurer that can handle claims effectively and efficiently. The last thing you want is to get stuck with a provider that makes the process unnecessarily complicated.

• Check state regulations: Not all professional liability providers are licensed to provide insurance in every state. Make sure that the policy you purchase is valid in your state.

Use a broker to help streamline the process

With so many different policies out there, finding the right legal malpractice insurance can be time-consuming. Hiring an insurance broker can help simplify the process. Brokers can do much of the heavy lifting for you. And since most brokers are insurance experts, they can help you negotiate better coverage options.

At Embroker, we have extensive experience with law practices like yours and understand the nuances of legal malpractice insurance — and as a full-service brokerage, we can help you get the right coverage at the best price.

Step 4: Fill out an application

Found a legal malpractice policy that fits your needs? Now, it’s time to actually apply for coverage through an insurer.

Applying for professional liability insurance is pretty straightforward, but it’s important to be thorough with your answers as they can impact your policy terms and premiums.

Insurers will typically ask for information about your firm’s size, areas of practice, personal information about each attorney in your firm, and your claims history. You’ll also generally need to provide information about your risk management processes so that the insurer can assess how well your firm mitigates risks.

Step 5: Wait for an underwriter to review your application

The final step in getting legal malpractice insurance is to submit your application and wait for the insurer’s review and approval. The amount of time it will take for an underwriter to review the application varies from company to company, but most insurers complete the process within one to three business days.

During this review process, the insurer will assess the risks your company faces and determine how risky your firm is to insure. After analyzing your firm’s risk profile, the underwriter will determine your eligibility, policy limits, and premiums.

Here are some of the outcomes you can expect to receive from the insurer:

• Approval with standard terms: The underwriter approves your application based on the typical coverage terms and rates.
• Approval with modifications: The insurer may adjust policy limits or deductibles if your firm faces higher levels of risk or unique threats.
• Request for additional information: The provider may need clarification before making a final decision on your policy and may ask more questions.
• Denial of coverage: In some cases, the insurer may determine your firm is too risky and will decline coverage.

Factors influencing legal malpractice insurance premiums

There are many factors that affect the cost of legal malpractice insurance. Anticipating what you’ll pay without getting a quote from an insurer can be nearly impossible, but here are some of the key aspects of your business that can influence the cost.

Practice area

As a general rule, the riskier the practice, the heftier the premium. For example, an estate planning attorney will likely pay a fraction of what a personal injury lawyer does. After all, drafting wills is far less likely to spark a malpractice claim than a high-stakes lawsuit. 

LPL step rating

The LPL step rating is a pricing model in which insurers gradually increase premiums over the first few years of coverage before stabilizing. This is because legal practices tend to become riskier to insure as attorneys take on more cases.

Size of firm

The more attorneys in a firm, the more cases you’ll have — this significantly increases the potential for malpractice claims. So, it shouldn’t come as a surprise that larger firms tend to pay higher premiums.

Claims history

As with essentially all other types of insurance, your past claims follow you and can have a major impact on your malpractice insurance premiums going forward. An attorney with a clean claims record will typically pay lower premiums. Conversely, if you have an extensive history of malpractice claims, you should expect to pay more.

Policy limits

Another factor that plays a role in your premium is the amount of coverage you purchase. Most small and medium-sized law firms won’t need more than $1 million in coverage, but this may not be adequate for larger firms that face more risk. 

Other factors influencing malpractice insurance cost

• Risk management processes
• Location
• Hours worked
• Deductible amount
• Continuity of coverage

How to reduce legal risks: Best risk management practices for lawyers

Your insurance policy is a last resort, a safety net that protects your firm in the worst-case scenarios. Implementing strong risk management practices is the best way to prevent claims before they happen.

Here are some of the best ways to reduce legal risks and prevent legal malpractice claims.

Communicate clearly

Clear communication with clients and partners is the foundation of effective legal advocacy. Miscommunication is one of the easiest ways to land your firm in legal trouble. Be direct and precise when discussing cases with clients, and never assume they understand legal jargon.

Document everything

Properly documenting all client communication is your best defense against a legal malpractice claim. If a client ever disputes your work, detailed records, such as engagement letters, fee agreements, and case notes, can protect your firm and support your case.

Manage client expectations

It’s tempting to make bold promises to win clients, but overpromising can quickly backfire. Be upfront with clients about potential outcomes, risks, and timelines from day one. At the end of the day, it’s better to set realistic expectations than to deal with an angry client who feels misled when things don’t go as planned. 

Be choosy with clients

Early in your legal career, it’s easy to feel pressured to take on every client who walks through the door. The fact of the matter is that not every potential client is worth the risk. If a client seems overly demanding or has a history of suing attorneys, consider walking away. Trust your instincts. Some cases just aren’t worth the headache or liability.

Check for conflicts of interest

Representing clients with conflicting interests is a surefire way to land yourself in a malpractice suit. This can lead to major ethical violations and malpractice claims. Always run a thorough conflict of interest check before taking on a new case. Even an unintentional conflict can create serious legal issues for your firm.

Protect your firm with legal malpractice insurance

Without legal malpractice insurance, your firm will be going bare against claims. Without insurance, a single lawsuit could set your firm back hundreds of thousands of dollars — not to mention the crippling damage to your reputation.

At the end of the day, legal malpractice insurance isn’t optional, and no attorney can afford to go without it.

Apply online today and get a quote to secure the protection your firm deserves.

With 30% of insurance workers reaching retirement age by 2030, and the rise of generative AI, including the emergence of agentic systems, the insurance industry’s workforce is poised for a major transformation. AI presents massive opportunities, but recruiting and upskilling talent remain significant challenges. Insurers that can attract, upskill and reskill their staff to be proficient in AI stand to gain substantial benefits and efficiencies.

Accenture’s research underscores the importance of a human-led approach to AI, highlighting a potential $17.9 trillion difference in economic growth over the next 15 years. At our FS Industry AI symposium in London in November, most insurers in attendance were committed to this approach, recognizing it as a key strategy for scaling value.

The insurance industry is particularly well-positioned to benefit from AI with the majority of work hours in financial services, including insurance, involving language-rich or data-heavy tasks. Also, given that unstructured data represents an estimated 80-90% of all new enterprise data, it’s no surprise that generative AI, with its human-like capabilities and proficiency in handling unstructured data, is already seeing widespread adoption.

Unlocking this potential in the insurance industry requires close collaboration with the professionals who have the deepest understanding of the work. Currently, 36% of insurance CXOs are concerned that a lack of worker skills will hinder their organization’s ability to fully utilize generative AI.

Preparing employees for the era of generative AI has never been more crucial. In this blog, we will explore three strategies to embrace a people-first reinvention approach.

 

1. Address worker concerns through transparent communication

While AI can handle many tasks with increasing levels of capability; human skills such as judgement, creativity, critical thinking, and emotional intelligence remain irreplaceable. Our research revealed that 55% of insurance workers are worried about stress and burnout associated with working alongside AI, while 50% fear job displacement. These concerns are valid but can be overcome and must be addressed to ensure a smooth transition and maintain a motivated workforce. By highlighting how AI can enhance human capabilities, organizations can build trust and confidence among their workforce while transforming roles and shifting recruitment towards a skills-based approach in the insurance industry.

We found that only 5% of the tasks performed by insurance sales agents are estimated to be fully automated, 47% will remain unchanged, and the rest will be augmented which will significantly improve both the employees’ experience and productivity. For example, at present there is an insufficient number of underwriters in the labor market and up to 40% of a typical underwriter’s time is consumed by non-core activities and administrative tasks. If leveraged correctly, generative AI and autonomous agents could significantly augment their work by automating data analysis and providing insights, which would allow underwriters to focus on more strategic and value-added activities. Similarly, customer service representatives can use AI-powered chatbots to handle routine inquiries, freeing them to address more complex issues and build stronger relationships with clients. By emphasizing these complementary roles, companies can help employees see AI as a tool that enhances their work which improves work-life balance and job satisfaction, rather than a threat to their jobs.

2. Reskill at pace and foster a culture of continuous learning

To thrive in the era of generative AI, insurance companies must invest in robust reskilling programs. The importance of this cannot be overstated, as 24% of insurance leaders cite a lack of access to the right skills as a major barrier to growing their business and serving their customers. This statistic underscores the critical need for action and highlights the potential benefits of a well-prepared workforce.

Helping workers understand the changing nature of their roles is essential. Insurers should offer learning pathways that are relevant to the future work environment. The appetite amongst employees is there. Despite 92% of workers wanting generative AI skills, only 4% of insurers are reskilling at the required scale. As such, insurers should implement comprehensive and continuous reskilling programs that are multifaceted, offering a mix of online and in-person training opportunities. These programs can include workshops, webinars, and hands-on training sessions to ensure that employees are equipped with the necessary skills to work alongside AI. For example, insurers are excellent at handling structured data, but by ensuring their employees are equipped with generative AI skills and tools, they will then be able to handle the vast amounts of unstructured data and documents at a higher speed.

Partnerships with external providers can also play a crucial role in these reskilling efforts. By collaborating with educational institutions, tech companies, and industry experts, insurance companies can access the latest training resources and best practices. These partnerships can aid in creating a culture of continuous learning by providing employees with a broader range of learning opportunities and ensuring that the training is up-to-date and relevant.

To keep the love for learning alive, insurers should provide sponsorship and clear recognition for colleagues who reskill. Gamifying the learning experience with elements like points, badges, and leaderboards can motivate employees and help track their progress. Platforms like Viva Engage foster a collaborative learning environment where employees can share knowledge, ask questions, and support one another.

With LearnVantage, we walk the talk at Accenture

A year ago, we launched LearnVantage, our flexible AI-enabled ecosystem designed to support learning and future skills. This includes the AI Academy, which offers educational sessions and deeper learning opportunities, such as nano-degree pathways, certified online educational programs that teach you specialized skills in less time than bachelor’s and master’s degrees, and external certifications from institutions like Stanford. For example, we have trained the entire executive team, leaders, and employees at S&P Global with a comprehensive AI academy.

LearnVantage is designed to support continuous learning and skill development for both human employees and AI agents. It emphasizes learning in the flow of work and personalization, covering a wide range of topics from basic AI fluency to advanced areas like responsible AI. By capturing meaningful data, LearnVantage helps refine and improve learning experiences over time, building trust and ensuring that both humans and AI agents are well-equipped to handle their tasks effectively. This approach fosters a culture of curiosity and innovation, aligning with broader AI and digital transformation initiatives.

3. How to attract and retain talent in insurance: Now and in the future

It’s essential for insurers to compete for new talent in engineering, security, data, and AI across industries. People aged 18-24 in the US are the least likely to choose the insurance industry for employment*, and insurance companies are losing more talent than they are hiring. With a projected 10.7 million worker shortfall in financial and business services by 2030, attracting and retaining talent has never been more critical.

One essential way to address this is to reframe the Employee Value Proposition (EVP). It should highlight the positive impact of working in insurance, emphasizing how it protects society, businesses, and individuals to appeal to purpose-driven younger generations. The EVP should also reflect the importance of innovation and skill development, particularly in emerging technologies like AI. Including your EVP in your marketing strategy can help build awareness of insurance outside of traditional talent pools.

Once your EVP is reframed, it’s important to develop a robust recruitment strategy. Segment recruitment by business areas and target relevant geographies, creating personalized messaging for specialized candidates. Integrate and test EVP elements both globally and locally, incorporating them into HR processes and employer branding.

To refresh recruitment strategies, collaborate with universities strong in engineering, security, data, and AI for targeted early career recruiting. Leverage alumni and employees for advocacy and referrals, and engage with early career talent, including apprentices and graduates.

Ensuring a seamless candidate experience is crucial. With generative AI, it has become much easier to personalize and accelerate the recruiting process, keeping job postings competitive and enhancing candidate experiences through AI and agentic architecture, making recruitment more engaging and efficient.

Lastly, look for hidden workers, such as carers, veterans, and others who possess a wealth of soft skills. These individuals are often overlooked or may not consider themselves a fit for the insurance industry.

Not just a technological shift but a cultural shift

To fully embed AI in the workforce and ensure tools and practices are embraced, insurers need to understand future role requirements, hone their skills gap identification and development processes and utilize data tools like Skills.AI to determine external and internal skill acquisition needs. In addition, AI should also be used to conduct regular competitor analysis to further refine these hiring strategies, ensuring everything being offered, including compensation structures, are market-relevant. By fostering this cultural shift, we can build an agile workforce together, ready to meet the constantly evolving needs and demands of the insurance industry of both today and tomorrow.

 

*Source: Outside-in data from ecosystem partner incorporating US Federal and State sources.

This post is part of a series sponsored by Cotality.

Hurricane risk isn’t exclusive to Florida — or to coastal areas at all, for that matter. Many people, including insurance professionals, do not realize how far hurricane risk can spread.

Migration patterns within Florida show that people are aware of risks in the coastal areas the Sunshine state. But, even as more people move out of coastal Florida to areas further inland, or to other states entirely, they may not realize that hurricane risk can follow them. As we say in this business, lower risk is still risk.

Also, not only does hurricane risk stretch further than many assume, but the social impacts of hurricanes are far-reaching (reverberating for longer than just the year these storms strike).

Understanding the full extent of hurricane risk, both in time and space, is important for everyone, especially those in the driver’s seat of this system.

The more insurers understand about hurricane risk, the more proactive they can be about assessing hurricane risk in their decisions, and the better they can prepare claims resources for hurricanes, and sub perils like heavy winds and flooding that come with them.

With this in mind, Cotality™ has taken a new approach to the way it presents risk data in its 2025 Hurricane Risk Report.

Turning data into stories

Instead of focusing primarily on the forecast for the 2025 Atlantic hurricane season (June through November) and reporting only on the reconstruction values of the millions of likely to-be-impacted properties, we’ve built stories around the data. In this year’s report, we illustrate how areas beyond coastal communities could also suffer.

We also restructured our report to analyze the long-lasting social impacts that hurricanes and their subperils have. We’ve have also captured how increased property mitigation efforts can fortify more than just the structure.

While reading data is helpful, information is easier to absorb when it is framed in a captivating story.

When insurers understand all the implications of hurricane risk, they are better able to communicate with policyholders on such matters as mitigating their properties against precipitation, winds, and flooding. Smart mitigation is critical to lowering community hurricane risk.

Hurricane risk is set to impact tens of millions of communities from Maine to Florida in the coming months. Read Cotality’s newest Hurricane Risk Report today, and you’ll discover:

• How risk affects not just insurers and policyholders, but the entire property ecosystem.
• Why awareness is key to stabilizing home values, preventing displacement, and preserving generational wealth.
• How inland areas are increasingly vulnerable to hurricane-related impacts.
• Real-world anecdotes to help communicate the real meaning of risk to both colleagues in the ecosystem and to policyholders.

It’s a short read, but it will change your approach to hurricane preparation and proactive customer engagement.

© 2025 Cotality. All rights reserved. While all of the content and information is believed to be accurate, the content and information is provided “as is” with no guarantee, representation, or warranty, express or implied, of any kind including but not limited to as to the merchantability, non-infringement of intellectual property rights, completeness, accuracy, applicability, or fitness, in connection with the content or information or the products referenced and assumes no responsibility or liability whatsoever for the content or information or the products referenced or any reliance thereon. Cotality™, the Cotality logo, and Intelligence beyond bounds™ are the trademarks of CoreLogic, Inc. d/b/a Cotality or its affiliates or subsidiaries.

Topics
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Natural Disasters
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By Lewis Nibbelin, Contributing Writer, Triple-I

Insurance industry executives and thought leaders gathered yesterday for Triple-I’s Joint Industry Forum (JIF) in Chicago to discuss the trends, economics, geopolitics, and policy influencing the market today, as well as ways to navigate these complexities while focusing on making their products affordable and available for consumers.

Triple-I CEO Sean Kevelighan in his opening remarks, noted that effective risk management depends on collaboration across stakeholder groups, as interconnected perils “present a community problem, not just an industry problem.”

JIF keynote speaker Louisiana Insurance Commissioner Tim Temple said facilitating community resilience planning is a top priority for the National Association of Insurance Commissioners (NAIC). The NAIC’s 2025 initiative  – “Securing Tomorrow: Advancing State-Based Regulation” – aims to improve disaster mitigation and recovery by consolidating “the collective expertise of experienced state regulators from across the country, who can share real-time insights and proven strategies,” Temple said.

Among the initiative’s goals is aggregating more data from insurers to better understand challenges to affordability and availability on state levels, which the NAIC can then translate into actionable policy proposals. Such data calls, Temple said, help regulators, legislators, and policyholders focus on improving the cost drivers of insurance rates.

Louisiana has consistently been among the least affordable states for homeowners and auto insurance, according to the Insurance Research Council (IRC), in part because of its reputation for being plaintiff-friendly in civil litigation. Significant tort legislation has been approved in the state, but resistance to reform remains a challenge.

Getting to the roots of high premiums

 After a recent data call in his home state, Temple told the JIF audience, “For the first time in Louisiana, we’re not talking about only premiums. We’re talking about why premiums are where they are.”

A critical lack of transparency surrounding cost drivers persists, however. Temple criticized the National Flood Insurance Program’s Risk Rating 2.0 reforms for not publicly disclosing more information “for individuals and communities to identify and address factors driving up their premiums,” such as “whether increased rates take into account levee systems, pump stations, and other things designed to help mitigate against floods.”

Conversely, government programs like Strengthen Alabama Homes – and the numerous programs it inspired, including in Louisiana – have demonstrated success in communicating the benefits of resilience investments for consumers and policymakers.

“We’re seeing major positive results after just a few short years,” Temple said, noting that, since early 2024, over 5,000 homeowners not chosen for Louisiana’s grant program still decided to invest in the same hazard mitigation, as they may still qualify for the corresponding state-mandated insurance discounts.

“As natural disasters become more frequent and severe, state regulators will continue to drive forward common-sense policies that protect consumers and ensure that insurance remains available and reliable for at-risk communities,” Temple concluded. Developing the database required for such policies is a necessary first step.

Keep an eye on the Triple-I Blog for further JIF coverage.

Learn More

Significant Tort Reform Advances in Louisiana

Louisiana Senator Seeks Resumption of Resilience Investment Program

Louisiana Reforms: Progress, But More Is Needed to Stem Legal System Abuse

Louisiana Is Least Affordable State for Personal Auto Coverage Across the South and U.S.

Who’s Financing Legal System Abuse? Louisianans Need to Know

Study Touts Payoffs From Alabama Wind Resilience Program

Outdated Building Codes Exacerbate Climate Risk

Resilience Investments Paid Off in Florida During Hurricane Milton

When it comes to parenting, your to-do list can seem never-ending, from signing up for school activities, to projects around the house, to planning for the future. It seems as soon as you check something off, a few more to-dos jump right on the list.

If you’re a single parent, that list may be even longer—and more complex—especially if you are your children’s “one and only.” And you could be feeling the pressure: Three quarters say they felt overwhelmed with becoming a single parent, and more than a quarter (27%) admit being very overwhelmed, according to Life Happens’ new survey, “Single Parents and the Financial Future.”

What’s more, single parents say they’d need a minimum of $332,705 in savings to feel at ease about raising their child. In fact, making sure their kids will be OK financially is something that the average single parent thinks about five times a day on average.

However, four in 10 single parents admit that they didn’t start planning for their child’s financial future until their kids were 4 to 6 years old—or even later. Only 10% started before their child was born, according to the data.

Don’t Leave It to Chance

Does any of this sound like you? If so, have you asked yourself: “What would happen if I were no longer in the picture? Where would the money come from to take care of my children?”

More than a quarter of single parents surveyed (28%) say they’d let others raise money on a crowdfunding site to provide for their children. Only half say they’ve purchased life insurance to protect their children’s financial future if someone else had to take care of them.

Given that life insurance is an affordable solution, why aren’t more single parents considering it? The truth is that most people overestimate the cost of life insurance by three times or more (2023 Insurance Barometer Study by Life Happens and LIMRA). So, it does stand to reason that if people think it would be out of their price range, they wouldn’t even consider it.

But let’s put it into perspective: A healthy 30-year-old can get a 20-year $250,000 level term life insurance policy for around $200 a year. That works out to about $4 a week. And if something were to happen to you, that $250,000 would go to ensuring your child’s future would be everything you dreamed it would be.

If you need any inspiration (or motivation), watch Summer’s story here. She was a young single mom who was, tragically, hit by a car and killed when she was just 22. Her son, Nathan, was just nine months old. When she was pregnant, she put a life insurance policy in place for just $12 a month that ensured Nathan’s future would be bright no matter what happened.

Don’t let being unsure of how much or what kind of life insurance to buy stop you from getting coverage. To start, you can do a quick calculation with our Life Insurance Needs Calculator to get a general idea of how much you may need. And if you want help choosing the right kind of policy that fits your budget, you can talk with an insurance professional at no cost or obligation. If you don’t have someone to work with, you can use Life Happens’ Agent Locator here.

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