Michael Shashoua

New Jersey

Memoir out now: https://t.co/1tbfLVltcp Day job is w/ @_diginsurance Formerly #fintech marcom & @referencedata. superfan of @genesis_band, @FordhamGBA alum

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Articles

Disaster relief and prevention cuts compound home insurance crisis, risk experts say

3 days ago | dig-in.com | Michael Shashoua

Trump Administration and Congressional cuts to climate protections, disaster prevention and recovery related efforts and agencies will impact home insurance, housing and financial stability, according to climate financial risk experts. Participants from Americans For Financial Reform, the Union of Concerned Scientists, Public Citizen and a California county supervisor spoke in a webcast following the U.S. Senate Banking Committee's May 1 hearing on insurance markets and risk mitigation policies.
Institute says more states should let cyber insurers bundle services

1 week ago | dig-in.com | Michael Shashoua

Small and medium size enterprises (SMEs) and state and local governments looking for cyber insurance protection could be helped by allowing bundling, according to a report by The Institute for Security and Technology (IST). In cyber insurance, bundling is when insurers offer rebates to policyholders using cyber security services, or a reduced rate on those services. Half of all U.S. states allow the practice, and the other half do not.
Agentic AI erodes customer focus, independent insurance agents say

1 week ago | dig-in.com | Michael Shashoua

Agentic AI may have sparked excitement among insurance carriers, but independent agents and brokers aren't so thrilled. They are concerned about carriers and insurtechs' use of AI taking away some of their business. Advanced user interfaces are not as valuable to them as simply selling coverage, according to agency and service provider executives.
Colorado proposes FAIR Plan surcharge for home policyholders

1 week ago | dig-in.com | Michael Shashoua

The Colorado Division of Insurance is considering regulation that would allow insurers to pass on their costs to support the state's new FAIR Plan, homeowners insurance of last resort, to policyholders through a surcharge. The Colorado FAIR Plan has assessed insurers doing business in the state for $46 million.
Homesteaders Life advice on tech challenges

2 weeks ago | dig-in.com | Michael Shashoua

Des Moines-based Homesteaders Life is a century-old funeral and end-of-life costs insurer that is applying technology to market additional services to its policyholders. Nick Gerhart, executive vice president at the company, spoke to Digital Insurance about the company's efforts, as well as insurtech startups, AI and regulation.
Cyber risk insurance poised for comeback

2 weeks ago | dig-in.com | Michael Shashoua

Global cyber risk insurance premium rates have been decreasing, leaving insurers in the space looking at risk pricing, underwriting and the frequency of claims as areas to address.
Defending FAIR Plan antitrust suit will be tall order for insurers

2 weeks ago | dig-in.com | Michael Shashoua

Two antitrust suits against major home insurers in California filed April 18, alleging a conspiracy to force homeowners onto the FAIR Plan insurer of last resort most likely will end with a settlement rather than a jury trial, according to an attorney and law professor who analyzed the case.
California FAIR Plan bill stops short on financing method

3 weeks ago | dig-in.com | Michael Shashoua

California legislation to issue bonds supporting the state's home insurer of last resort, might not be enough to keep the plan afloat in future disasters or if investors' appetites change, according to Jordan Haedtler, a climate finance strategist. The bill "potentially has some downsides that aren't being properly comprehended by the policymakers who are pursuing it," said Haedtler, a policy advisor at the Infrastructure Fairness Project, who has also consulted with Climate Cabinet.
California advocate sues to keep wildfire claims costs off policyholders

3 weeks ago | dig-in.com | Michael Shashoua

The insurance industry's trade association criticized a lawsuit filed April 14 by Consumer Watchdog against California's insurance commissioner, saying it would block insurers' ability to recoup their costs from the FAIR Plan homeowners insurance of last resort. The Los Angeles-based consumer advocacy group stated the purpose of its litigation was to stop the FAIR Plan from passing on the costs of the January wildfires to policyholders.
Colorado wildfire risk mitigation bill leaves specifics vague

4 weeks ago | dig-in.com | Michael Shashoua

Colorado home insurance policyholders will have to wait and see if a new bill will be effective at getting insurers to provide significant discounts for mitigating wildfire risk on their properties, according to a longtime insurance attorney based in the state. "The clarity of the specific mitigation efforts which an insurer says can lead to a discount is so critical because the legislation necessarily is broad and vague," said Chris Mosley, partner in the insurance recovery group at Reed Smith.