Cyber insurance claims in the UK have dropped significantly between 2022 and 2024, as more businesses focus on their own recovery strategies, avoiding ransomware payments and boosting resilience.
A Clearwater cybersecurity firm unknowingly hired a North Korean hacker who used a stolen American identity and collaborated with a U.S.-based laptop farm to infiltrate the company, highlighting the risks associated with remote hiring practices.
In a Pennsylvania case, the court ruled that a county couldn’t offset pension payments against workers’ compensation benefits for a retiree who was injured after returning to work part-time, citing the "absurdity doctrine."
A Toronto resident has been arrested and faces more than 100 charges in connection with an extensive auto fraud and reVINing scheme. Police warn potential buyers to check vehicle history reports carefully.
The insurance-linked securities (ILS) market is experiencing moderate capacity growth, driven by record-setting catastrophe bond issuance and market demand, according to AM Best’s latest report.
The insurance industry is gearing up for significant employment growth in 2024, with over half of companies planning to expand their workforce despite ongoing recruitment challenges.
As the insurance industry evolves, the debate intensifies: will established traditional insurers maintain dominance, or will innovative, digital-first companies lead the future by meeting evolving customer expectations?
In Q2 2024, U.S. and Canadian collision claims for electric vehicles saw significant increases, despite a downturn in EV sales. Hybrid vehicles also experienced rising claims frequency, highlighting shifting market dynamics.
Late-reported property claims pose unique challenges for insurers and adjusters, particularly when determining the cause and policy period of a loss. Thorough investigations and documentation are crucial to mitigate risks of litigation and bad faith claims.
With the potential for boundless litigation involving PFAS chemicals, companies must prioritize risk management strategies to identify, assess, and mitigate exposure before costly legal battles arise.
Disney is attempting to dismiss a wrongful death lawsuit related to a fatal allergic reaction at one of its restaurants, arguing that the plaintiff is bound by an arbitration clause from a Disney+ trial he signed up for years earlier.
A Visalia taco truck owner has been arrested for staging a robbery and arson in an attempt to defraud insurance companies. Surveillance footage and a linked accomplice led authorities to uncover the plot, resulting in charges of conspiracy, arson, and insurance fraud.
Hurricane Ernesto intensifies after battering the northeast Caribbean, leaving Puerto Rico and the U.S. Virgin Islands with widespread power outages, severe flooding, and disrupted services as it heads towards Bermuda.
Hurricane Debby caused $12.3 billion in damage, with 78% of affected properties located outside FEMA-designated flood zones. The event underscores the need for updated flood risk assessments and broader insurance coverage.
Recent UK riots may test the effectiveness of the UK Riot Compensation Act 2016, but overall losses are expected to remain manageable for British insurers, with claims likely staying below GBP 250 million.
