Association of Claims Professionals Applauds Bipartisan Bill to Require Uniform Licensing for Independent Claims Adjusters

Washington, DC, July 30, 2019 –(– The Association of Claims Professionals (ACP) today commended the introduction of the Claims Licensing Advancement for Interstate Matters (CLAIM) Act (H.R. 4037) in the U.S. House of Representatives by Congressmen David Kustoff (TN-8) and Bill Foster (IL-11). This bipartisan legislation eliminates inconsistencies and inefficiencies within the claims industry by requiring states to adopt uniform and reciprocal licensing laws for independent claim adjusters. “We applaud Congressmen Kustoff and Foster for working to fix the significant challenges associated with the insurance claims adjusting license process,” said…

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Despite huge cyber insurance market growth, it remains a tiny industry fragment

Cyber Insurance Market - Cyber Security

Businesses are catching on to the critical nature of this coverage, but there is a long way to go. The cyber insurance market represents a relatively new environment which comes with a high risk level. This requires insurance companies to use a cautious and meticulous strategy supported by reinsurance, according to a Moody’s Investors Service report. While the market growth is taking off, it still represents only a small fraction of the industry’s revenue. The cyber insurance market experienced a 26 percent cumulative annual growth rate in direct premiums since…

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