Insurable Interest Canadian Insurance Blog

Global volatility persists but elevated insured loss activity seen in the first quarter moderated New York, NY (July 1, 2025) – According to Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, despite global economic volatility and insured loss activity nearing $70 billion through the first half of 2025, reinsurance renewal trends seen at January 1 continued, including: Strong reinsurer balance sheets driving appetite for growth; Excess property capacity and moderating pricing; Disciplined casualty underwriting; Reinsurer focus on holistic client relationships to grow their portfolios. Insured loss activity in the second quarter levelled off from the elevated first quarter. Losses for the first half of 2025 are now flat compared to the inflation-adjusted five-year average. The Los Angeles wildfires account for $40 billion in insured losses or 59% of activity in the first half of 2025. For reinsurers, the wildfires are not expected to impair capital or appetite for the remainder of the year. Despite loss activity in the first quarter, strong reinsurer performance is expected to continue in 2025. Reinsurer returns on equity were 16% in 2024 and are projected to be 15% in 2025. Reinsurance capital closed 2024 at an all-time high...

By Joseph D’Souza, Founder & CEO, ProNavigator — With Gen AI dominating boardroom discussions, it’s easy to get lost in the noise. Many executives I speak with find themselves at a crossroads: Should they implement general-purpose solutions, such as Microsoft Copilot, ChatGPT, or Gemini, or opt for specialized Gen AI tools tailored for insurance, or build their own? In my view, the answer isn’t about picking one over the other – it’s about bringing together the right tools for the right jobs. AI is a means to an end, not the goal itself The False Dichotomy of General-Purpose vs. Specialized Gen AI I often hear people framing this decision as an either-or choice – but that’s not how modern insurance operations working.Insurance operations involve a wide range of tasks—some universal across industries, others highly specialized with unique regulatory demands. No single tool can cover everything effectively, and that’s okay. ‍For example, a regional insurer implemented Microsoft Copilot for summarization and meeting note taking. Simultaneously, they deployed ProNavigator to support underwriting and claims teams, ensuring compliance and improved efficiency. A Simple Framework for Choosing the Right Gen AI Tool When deciding which AI tool to use, I recommend focusing on two...

The insurance provider collaborates with DC and Warner Bros. Pictures to bring superhero moments to life and showcase its in-app safety technology Mayfield Village, OH (July 8, 2025) – Progressive Insurance is teaming up with DC and Warner Bros. and the DC Studios film Superman to shine a light on its in-app safety feature, Accident Response – a real-time resource designed to help drivers when they need it most. To bring the experience to life, Progressive is debuting a life-sized, comic-inspired diorama at the film’s world premiere, giving attendees the chance to strike their best superhero pose. At the Superman premiere, attendees will step into the action with a photo opportunity inspired by the iconic Action Comics #1 cover, featuring a life-sized diorama of a branded car replica suspended mid-air – offering fans their very own superhero moment. Progressive’s Flo and Jamie will join Superman cast member Isabela Merced on the red carpet to celebrate the film and highlight the real-world heroism behind Accident Response. Merced, who plays Hawkgirl, will also partner with Progressive to share the diorama experience, bringing to life how the feature supports drivers in moments of need. The activation extends Progressive’s broader campaign, where Flo and Jamie...

The General Road Test Royale™ aims to bring the brand’s mission to life — giving people a break, whether they’re behind the wheel or behind a controller Nashville, TN (July 7, 2025) – Road anxiety is on the rise, especially with Gen Z drivers. That’s why The General® — an empathetic insurance provider committed to offering flexible, reasonably priced coverage for drivers when they need it most — is expanding its footprint in the gaming ecosystem with the launch of The General Road Test Royale. This custom gaming experience helps drivers tackle road test challenges, inspired by iconic real-world driving locations, in a safe, fun virtual environment. The General Road Test Royale is a custom-built map that is being unveiled as its own universe in The Glitch on July 7. The game is a direct reflection of The General’s commitment to showing up where its customers already are — and in a space where they’re having fun, connecting and competing. The General Road Test Royale™ aims to bring the brand’s mission to life — giving people a break, whether they’re behind the wheel or behind a controller “At The General, we’re constantly looking for ways to meet our customers where they...