Baltimore Bridge Collapse May Set Record for Marine Insurance Losses, Lloyd’s of London Chairs Warn
Lloyd’s of London anticipates the Francis Scott Key bridge collapse to potentially become the most significant marine insurance loss in history.
March 28, 2024
Catastrophe
Insurance Industry
Marine
Risk Management
Maryland
U.S. Property and Casualty Insurers Shift Focus to Predict and Prevent Strategy Amid Rising Underwriting Losses
Facing a $38 billion underwriting loss and increased natural catastrophe damages, insurers explore predictive and preventive measures for sustainability.
March 28, 2024
Catastrophe
Insurance Industry
Risk Management
Technology
Johnson & Johnson Settles Mississippi Talc Lawsuit for $75 Million
Johnson & Johnson reaches a $75 million settlement with Mississippi over its talc-based baby powder, ending a consumer protection lawsuit.
March 28, 2024
Life & Health
Litigation
Mississippi
TMPAA and The Institutes Unveil New Program Business Professional Designation
In a landmark collaboration, TMPAA and The Institutes announce the Program Business Professional (PBP) designation, enhancing program business education.
March 28, 2024
Education & Training
Insurance Industry
Risk Management
Subaru Announces Recall of Over 118,000 Vehicles for Critical Airbag Deployment Issue
Subaru recalls select Outback and Legacy models due to a defect potentially preventing airbag deployment, ensuring passenger safety with a free sensor replacement.
March 27, 2024
Auto
Insurance Industry
Ship Owner Utilizes 19th-Century Law to Mitigate Liability After Baltimore Bridge Collision
After a catastrophic accident involving a ship and a Baltimore bridge, the vessel’s owner looks to an old maritime law to potentially cap damages, reshaping the financial aftermath.
March 27, 2024
Insurance Industry
Legislation & Regulation
Marine
Maryland
Man Acting As Adjuster Sentenced for Stealing Over $100K from Homeowners
A Canton man, acting as an insurance adjuster, was sentenced to three years in prison for stealing $108,000 from a couple after their home was destroyed by fire.
March 27, 2024
Fraud
Insurance Industry
Litigation
Property
Georgia
Florida Property Insurers Turn Profit in 2023, Bucking Years of Losses Amid Hurricane Challenges
After facing underwriting losses for years due to hurricane damages, Florida’s property insurers reported profits in 2023, signaling a potential market turnaround.
March 27, 2024
Insurance Industry
Legislation & Regulation
Property
Risk Management
Florida
Cybersecurity Flaws and Delayed Upgrades Expose Clorox to Disruptive Attack
A cyberattack leveraging long-standing cybersecurity vulnerabilities at Clorox led to widespread production halts, underscoring the critical need for updated digital defenses.
March 27, 2024
Risk Management
Technology
California
North Carolina Supreme Court Overturns Decision Allowing Stacking of UIM Coverage for Vehicle Owners in At-Fault Accidents
In a significant ruling, the NC Supreme Court decided that vehicle owners cannot stack UIM coverage from different policies for claims involving their own vehicles in at-fault accidents.
March 27, 2024
Auto
Insurance Industry
Legislation & Regulation
Liability
North Carolina
Arizona Court Greenlights Mexico’s Lawsuit Against US Gun Dealers for Facilitating Cross-Border Trafficking
An Arizona court ruling allows Mexico to pursue legal action against US gun dealers accused of contributing to violence through gun trafficking, highlighting a critical cross-border issue.
March 27, 2024
Legislation & Regulation
Litigation
Risk Management
Arizona
Massachusetts
Bridging the Insurance Gap in Emerging Markets Through Innovative Insurtech Solutions
Discover how Insurtech is revolutionizing insurance accessibility in emerging markets, leveraging mobile technology, and custom solutions to drive economic resilience.
March 27, 2024
Legislation & Regulation
Technology
Florida
Claims Adjusters Share Their Frustrations in Property Claim Adjustments
Claims adjusters reveal the myriad challenges and frustrations they face during property claim inspections, from uncooperative homeowners to aggressive public adjusters.
March 26, 2024
Fraud
Insurance Industry
Property
Risk Management
California
Florida
Texas
2023 Reflects a New Norm in Natural Catastrophe Insurance Losses
In 2023, natural disasters led to over $108 billion in insured losses, marking the fourth consecutive year above $100 billion, with severe convective storms hitting a record high.
March 26, 2024
Catastrophe
Property
Risk Management
Technology
California
Florida
Louisiana
Tribunal Denies Benefits to Motorcyclist for Insurance Fraud Involvement
A motorcyclist’s accident benefits claim was denied by the Ontario LAT, ruling he should have known his insurance obtained through dubious means was not valid.
March 26, 2024
Auto
Fraud
Insurance Industry
Legislation & Regulation
