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2024 already a top-4 year for US SCS insured losses: Bowen, Gallagher Re

2024 has already ranked among the top four costliest years on record for insurance industry losses due to severe convective storms in the US, with insured losses from the peril already exceeding $31 billion, according to Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re.

Over one-third of London market firms actively using AI: LMA

A recent survey by the Lloyd’s Market Association (LMA) found that 40% of London market firms are actively using AI tools in some areas or have even widely integrated them into their workflows; however, AI adoption still faces significant barriers.