Author: John Bowers

John joined the team as a UK actuary in 2010, having gained experience in system development at a UK insurance company prior to joining RNA. He currently oversees the development and advancement of all actuarial models for RNA's global market as the Global Product Manager. Fellow of the Institute of Actuaries 14 years post-qualification System Development Actuary, Royal Liver Assurance UK Former Head of Consulting EMEA, RNA RNA Analytics is a global actuarial and risk management consulting firm headquartered in Reigate, United Kingdom. The RNA Analytics Team is located across the United Kingdom, Spain, Japan, Korea and Hong Kong, and provides actuarial and risk management software and consulting services to financial institutions around the world.

Legal Chaos or Just Business? Georgia Insurance Company Pushes Back on $22 Million Payout

April 4, 2025April 4, 2025 John Bowers

Georgia Insurance Carrier Refuses to Pay $22 Million Verdict A High-Stakes Collision That’s Far From Over Imagine you’re sitting on a hefty $22 million verdict awarded by a jury. Now imagine the insurer responsible for covering that claim refuses to pay more than their policy limit of $1 million. Welcome to the legal aftermath of a 2021 collision in DeKalb County, Georgia, where a truck accident left the jury awarding the multimillion-dollar judgment. Yet, the insurer, Knight Specialty Insurance Co., has drawn a line, capping their liability at the policy…

Florida’s Push to Reform the No-Fault Auto Insurance System

March 10, 2025March 10, 2025 John Bowers

Efforts to reshape Florida’s auto insurance laws are in full swing, with the Senate Banking and Insurance Committee preparing to review the latest proposal, SB 54. This ongoing debate could significantly impact drivers across the Sunshine State. Here’s what you need to know about Florida’s no-fault system, the proposed changes, and what they mean for you. Understanding Florida’s No-Fault Auto System Florida is one of only two states that mandates a no-fault auto insurance framework. Under this system, drivers are required to carry personal injury protection (PIP) coverage, a policy…

How Rising Auto Insurance Costs Are Changing the Way We Buy Cars

January 13, 2025January 13, 2025 John Bowers

Rising Auto Insurance Costs: A Growing Concern for U.S. Drivers Auto insurance premiums in the United States have reached record highs, raising concerns about affordability for many Americans. A recent study by Jerry revealed that eight out of 10 U.S. drivers believe auto insurance has become prohibitively expensive for the average person. Even higher-income earners, those making more than $129,000 annually, are feeling the pinch. Nearly half of them have been shopping for better rates, while over half have opted for reduced coverage heading into 2024. This steady climb in…

2025: A New Era for Global Insurance Trends

January 3, 2025January 3, 2025 John Bowers

The insurance industry has seen significant innovation in modeling techniques and tools in recent years, driven by a surge of new regulations, standards, and technologies. A wave of new regulations and standards in the insurance industry, coupled with innovative developments in the technologies that underpin the insurance ecosystem, have radically altered the landscape for both carriers and their technology providers. With multiple new complex demands placed upon actuarial, finance and IT teams as a result, implementing these new requirements has led to comprehensive overhauls in insurance accounting practices, approaches and…

Insurance Giants Take Hyundai and Kia to Court Over Burning Cars

December 11, 2024December 9, 2024 John Bowers

Allstate Insurers File Lawsuit Against Hyundai and Kia Over Fire Risks – Lawsuit Details Allstate and its subsidiaries, including Esurance, National General, Integon, and Safe Auto, have filed a subrogation lawsuit in the U.S. District Court for the Central District of California against Hyundai and Kia. The insurance giants are seeking to recover costs paid to insured customers for damages related to alleged defects in the automakers’ vehicles that caused fires. According to the lawsuit, Hyundai and Kia knowingly failed to recall millions of vehicles equipped with potentially dangerous defects.…

Navigating California’s Flood Insurance Crisis: What Homeowners Must Know

October 22, 2024October 21, 2024 John Bowers

California’s Escalating Flood Insurance Crisis California is facing another significant challenge in the property insurance sector, this time concerning flood insurance. American National Property and Casualty Company, one of the major insurers, has announced plans to withdraw flood insurance coverage starting in early 2025. This decision will initially impact 271 customers, leaving many homeowners urgently searching for alternative coverage. This development is part of a broader trend in the state, where escalating wildfire and flood risks are prompting insurers to reassess their exposure levels in various regions. Some High Risk…

From Helene to Milton: Tampa’s Unprecedented Hurricane Season

October 8, 2024 John Bowers

Hurricane Milton – A Looming Threat to Tampa As Hurricane Milton barrels towards the Florida coastline, residents of Tampa are bracing for what experts warn could be a historic event. This fierce Category 4 hurricane is expected to make landfall tomorrow, potentially delivering a powerful storm surge and catastrophic winds to an area not directly hit by a major hurricane since 1921. Current Status of Hurricane Milton Originally a Category 5 storm, Hurricane Milton has slightly weakened but remains a formidable threat with sustained winds of 145 mph. The National…