Bad news for one insurance company. After failing for nearly 400 days to tender its policy limit of $250,000 in coverage, according to plaintiff counsel, an insurance company took an $8.5 million hit to its bottom line to settle a lawsuit involving a catastrophic injury after a wild series of events.

With high inflation and pandemic tendencies holding on, consumer preferences and buying behaviors have shifted over the past few years. They come with consequences.

With the departure of the baby boomer generation from the workforce, the insurance industry faces an inevitable employment gap. Intriguingly, the insurance sector employs most working individuals 50 and older, and within the next year, close to a quarter of insurance pros will be looking forward to retirement within a decade.

It’s Cyber Security 101: Multi-factor authentication and hard-to-crack passwords are table stakes for preventing incursions. Nevertheless, ‘Password,’ ‘12345’, and ‘Qwerty123’ are among the most commonly found passwords leaked on the dark web by hackers, according to mobile security firm Lookout

Situational variables have an effect on the degree of seriousness of these unexpected events, which causes management to try to find means and methods of stopping their occurrences or minimizing their negative impact on the organization.

When severe weather events take place, not everything can be fixed overnight. There are only so many contractors and thousands of homes will likely need repairs ranging from major to minor.

A massive 21-vehicle pileup on I-70 in Colorado during winter storm conditions forced the roadway closed on Wednesday, authorities said.

As of yesterday, the National Flood Insurance Program (NFIP) had paid USD 2.2 billion in claims for Hurricane Ian, which made landfall in Florida as a major Category 4 storm in September 2022, an increase of almost 28% from the figure reported by the US Federal Emergency Management Agency (FEMA) on January 9th, 2023.

The Allstate Corporation, one of the largest insurance companies in the United States, has announced its new commitment to achieve a string of zero emission targets.

We’ve been following the spate of Tesla Full Self Driving (FSD) and Autopilot crashes with some interest and more than a little ire.

In First Mercury Insurance Co. v. First Florida Building Corporation, 20-cv-1929 (M.D. Fla Jan. 3, 2023), the court rejected an insurer’s bid to have evidence considered outside the underlying complaint concerning the claimant’s employment status to determine the duty to defend. This underlying suit involves a personal injury claim where the claimant sustained severe injuries while working at a construction site.

A 2016 video that Tesla (TSLA.O) used to promote its self-driving technology was staged to show capabilities like stopping at a red light and accelerating at a green light that the system did not have, according to testimony by a senior engineer.

The cost-of-living crisis poses the biggest worldwide risk in 2023, according to findings in the World Economic Forum’s Global Risks Report 2023. Two years from now, experts expect the cost of living will still be the number one risk on the global agenda.

Embedded insurance is one of the most frequently explored topics in insurance today, yet its potential remains largely untapped. We are limited so long as we consider the concept purely with an insurance industry lens.

There was no resolution Friday for a bill that would make trespassing by drone a criminal offense in Wyoming, as the legislature’s Senate Judiciary Committee paused its debate until Monday.