With climate disasters becoming more frequent and severe, insurers must shift from compensation to prevention, using technology and data to reduce risks before catastrophe strikes.

Michigan is tackling surging auto theft by expanding its Auto Fraud Task Force, partnering with law enforcement to curb organized crime and reduce insurance costs.

FEMA now estimates NFIP losses from Hurricane Helene to be between $6.4 billion and $7.4 billion, with total claims exceeding 57,400. The agency has borrowed $2 billion to cover claims.

New studies suggest the world has already entered a 20-year period of sustained warming above 1.5C, raising urgent concerns about escalating climate risks and the need for rapid emissions cuts.

Amazon agreed to pay nearly $4 million to settle a lawsuit from Washington, D.C.’s attorney general, who alleged the company misled consumers and misused driver tips between 2016 and 2019.

Pennsylvania State Police are investigating the theft of approximately 100,000 organic eggs, valued at $40,000, from a distribution trailer at Pete and Gerry’s Organics in Greencastle.

Hawaii’s Supreme Court is considering a critical insurance dispute that could determine the fate of a $4 billion settlement for victims of the devastating 2023 Maui wildfire. The case hinges on whether insurers can independently sue the defendants to recover claims they’ve paid.

Risk managers are shifting focus toward climate change, wars, and disruptive technology as primary emerging risks, according to a recent survey by the Society of Actuaries and the Casualty Actuarial Society.

The insurance claims industry has seen incremental progress over the years, but true transformation remains elusive. To keep pace with technological advancements and consumer expectations, insurers must move beyond outdated processes and fragmented solutions.

The cyber insurance market remained favorable for buyers in 2024, with lower premiums and increased coverage options despite high-profile cyber incidents. However, risks such as supply chain attacks, regulatory enforcement, and artificial intelligence (AI) security concerns are shaping the industry’s future.

The insurance industry is facing increasing cyber threats, with 59% of breaches among the top 150 insurance companies stemming from third-party attack vectors. These vulnerabilities highlight the need for stronger supply chain security.

A judge ruled that Louisiana’s insurance regulator lacked authority to fine McClenny, Moseley & Associates for alleged fraudulent hurricane claims, sparking further legal debate.

Allstate anticipates recovering $900 million through its reinsurance program after estimating $2 billion in gross losses from the Los Angeles wildfires. This will result in a net loss of $1.1 billion for the insurer.

A federal judge ruled that Uber isn’t liable for an assault by one of its drivers, dismissing a passenger’s lawsuit. The court found no evidence that Uber knew of the driver’s violent tendencies.

A new study from the Institute for Legal Reform reveals that U.S. tort costs have risen at an annual rate of 7.1% from 2016 to 2022, exceeding both inflation and GDP growth.