The California Department of Insurance (CDI) has officially completed its review of the Verisk Wildfire Model for the United States. This is the first time a catastrophe model has been approved for insurance rate-setting under the state’s new regulations.

AM Best has upgraded the financial strength ratings of Somerset Reinsurance and Somerset Reinsurance Company (SRC) to A (Excellent) from A- (Excellent) and raised their Long-term issuer credit ratings to “a” (Excellent) from “a-” (Excellent).

The recent crash of an Air India aircraft shortly after takeoff is expected to result in insurance claims reaching up to $200 million, according to industry sources.

Guy Carpenter has released its 2025 North Atlantic hurricane season outlook, forecasting an active season with named storm totals expected to exceed long-term averages. The projection anticipates storm counts significantly above the 1950–2023 average and higher than those recorded during the active period from 1995–2023.

The Federal Reserve held interest rates at a 22-year high for a second consecutive meeting, amid a backdrop of a growing economy and labor market and inflation that is still well above the central bank’s target.

The global risk analytics market was valued at $35.65 billion in 2021 and is expected to grow at a compound annual growth rate of 7.54% between 2023 and 2030, reaching $72.98 billion by the end of the forecast period, according to Verified Market Research, a global research and consulting firm.