Florida Proposes $200 Million Expansion for Home Elevation and Flood Mitigation Program
In response to escalating climate change and storm threats, Florida introduces new bills to expand its mitigation program, offering grants for home elevation and floodproofing.
January 8, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Gen Z and Millennials Recognize Life Insurance’s Importance but Lag in Purchasing Policies
Despite acknowledging the importance of life insurance, Gen Z and Millennials are underinsured compared to other age groups, with misconceptions about cost being a key barrier.
January 8, 2024
Education & Training
Insurance Industry
Life & Health
Technology
OpenAI and Microsoft Face Lawsuit Over Alleged Copyright Infringement in AI Training
OpenAI and Microsoft are sued for allegedly using copyrighted nonfiction works to train AI models, including the ChatGPT chatbot, sparking a debate on AI training practices.
January 8, 2024
Insurance Industry
Litigation
Technology
New York
State Farm Home Insurance Premiums Set to Rise in California Following Regulatory Approval
California State Farm policyholders face a significant premium increase, with high-risk areas expecting even larger hikes, following regulatory approval of a 20% rate adjustment.
January 8, 2024
Insurance Industry
Legislation & Regulation
Property
Risk Management
California
January Sees Higher Workers’ Compensation Claims in Retail Sector, Surpassing Holiday Months
A surprising trend emerges with January experiencing a 25% increase in retail sector workers’ compensation claims, surpassing the holiday months, according to AmTrust’s 2023 Retail Risk Report.
January 8, 2024
Insurance Industry
Risk Management
Workers' Compensation
Exploring the Future of Global Trade: Digital Bartering and Blockchain Integration
An in-depth look at how digital bartering, blockchain technology, and regenerative finance are reshaping global trade in the face of geopolitical and economic challenges.
January 8, 2024
Insurance Industry
Legislation & Regulation
Risk Management
Technology
OpenAI Expands Efforts to License Publisher Content Amid Legal Challenges
OpenAI is actively negotiating with multiple publishers for content licensing, balancing AI model training needs with legal complexities.
January 5, 2024
Insurance Industry
Legislation & Regulation
Risk Management
Technology
Missouri City Settles for $2.9 Million in Lawsuit Over Rights Violations and Excessive Fines
Florissant, Missouri, agrees to a $2.9 million settlement for a lawsuit alleging constitutional rights violations through excessive fines and jailings for minor violations.
January 5, 2024
Legislation & Regulation
Liability
Litigation
Risk Management
APCIA Sets Priorities for 2024, Aiming to Tackle Key Insurance Industry Challenges
The American Property Casualty Insurance Association outlines nine key areas for 2024, including legal system reforms and catastrophe insurance challenges, aiming to enhance the property-casualty sector.
January 5, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
Florida Appeals Court Reverses Dismissal of Bad Faith Suit Against First Protective Insurance
In a pivotal ruling, a Florida appeals court overturns a dismissal, allowing a bad-faith lawsuit against First Protective Insurance over delayed sinkhole damage payments.
January 5, 2024
Legislation & Regulation
Litigation
Property
Risk Management
Florida
SpaceX Faces Labor Agency Accusations for Dismissing Employees Over Letter Criticizing CEO Elon Musk
U.S. labor agency claims SpaceX unlawfully fired eight employees for voicing concerns about CEO Elon Musk, sparking a legal battle over workers’ rights.
January 5, 2024
Insurance Industry
Legislation & Regulation
Liability
Risk Management
$6.4 Billion Estimated Insured Losses in Japan’s Noto Peninsula Earthquake
The 2024 Noto Peninsula Earthquake in Japan caused significant insured losses, with residential properties, especially older structures, bearing the brunt of the damage.
January 5, 2024
Catastrophe
Marine
Property
Risk Management
December Nor’easter and California Rains Lead to Major Losses in the U.S.
Severe December weather, including a nor’easter and California flooding, potentially costs millions in economic and insured losses.
January 5, 2024
Catastrophe
Property
Risk Management
California
Florida
Maine
New Jersey
North Carolina
Florida Check-Cashing Fraud Scheme Leads to Prison Sentences for Three Conspirators
Gabriela Inamagua, alongside her father and his former girlfriend, faces prison for a multi-million dollar fraud scheme involving shell companies and insurance deception.
January 4, 2024
Fraud
Insurance Industry
Legislation & Regulation
Workers' Compensation
Florida
Crawford & Company Experts Forecast Key 2024 Trends in Insurance Industry
Industry leaders at Crawford & Company share their insights on the evolving landscape of insurance in 2024, emphasizing technology, climate change, workforce dynamics, and fraud.
January 4, 2024
Catastrophe
Fraud
Technology
