Happy Wednesday! In this week’s Big I Buzz: an update on claims processing timelines from Wisconsin OCI, and a look at how wealthy consumers are shaping the auto insurance market.

Wisconsin OCI Bulletin: Claim Processing Timelines

The Wisconsin Office of the Commissioner of Insurance recently issued a bulletin to property and casualty insurers and Interested parties to remind insurers of the 30-day time to process claims.

Timely claims handling is critical, as it helps consumers meet important deadlines for FEMA funding eligibility. Read the bulletin here.

Wealthy Consumers Drive the Auto Insurance Market in 2025

A new study from The Zebra reveals that affluent consumers are fueling the auto insurance market through increased spending and luxury vehicle ownership. Since 2020, insurance shopping for top luxury cars has surged 116%, while luxury insurance rates have climbed 56% over the past five years—compared to 41% for non-luxury vehicles.

According to the study, the top 10% of spenders now account for a disproportionate share of the industry’s overall growth. Read more here.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list.