California School Board Trustee Indicted for Insurance Fraud and Misuse of Public Funds
A California school board trustee has been indicted for allegedly misusing public funds and filing a false insurance claim. A jury trial is set for March.
January 23
Fraud
Insurance Industry
Legislation & Regulation
Litigation
California
Court Rules Sky Betting Violated Data Laws to Target Problem Gambler
A UK court found that Sky Betting and Gaming illegally profiled a gambling addict for marketing purposes, sparking further scrutiny of data practices in the gambling industry.
January 23
Legislation & Regulation
Litigation
Risk Management
Technology
Cargo Theft Hits Unprecedented Highs in 2024, with $202K Average Loss Per Incident
Cargo theft incidents surged 27% in 2024, reaching 3,625 reported cases in the U.S. and Canada. California and Texas were hit hardest, with criminals shifting to high-value targets like electronics and copper.
January 23
Fraud
Property
Risk Management
Technology
California
Georgia
New York
Texas
U.S. Insurance Leaders Critique Treasury Report on Homeowners Coverage Trends
Industry groups criticize the Federal Insurance Office’s latest report on homeowners insurance, highlighting data flaws and an overemphasis on climate risks at the expense of other market factors.
January 22
Catastrophe
Legislation & Regulation
Litigation
Property
California
Florida
Louisiana
Reforms in Louisiana Strive to Mend Insurance Market Challenges
Despite progress through legislative reforms, Louisiana’s insurance market remains burdened by high costs, litigation, and affordability issues, requiring ongoing attention.
January 22
Auto
Legislation & Regulation
Litigation
Property
Florida
Georgia
Louisiana
North Carolina
AI-Powered Claims Solutions Revolutionizing Desk Adjuster Workflows
Agentic AI is reshaping claims management by automating repetitive tasks, supporting desk adjusters, and addressing challenges like workforce gaps, scalability, and customer satisfaction.
January 21
Catastrophe
Education & Training
Fraud
Technology
Record Catastrophe Bond Issuance of $17.7 Billion in 2024
Catastrophe bonds and related insurance-linked securities surged to a record $17.7 billion in issuance during 2024, driven by a robust first half and strong year-end performance.
January 21
Catastrophe
Property
Risk Management
Technology
California
Florida
Louisiana
Massachusetts
Texas
FEMA Partners with 27 Reinsurers to Transfer $758M in Flood Insurance Risk
FEMA has expanded its flood insurance reinsurance program for 2025, transferring $758 million in risk to 27 private reinsurers and covering portions of losses from catastrophic flood events.
January 21
Catastrophe
Insurance Industry
Property
Risk Management
Consumers Weigh in on AI Use in Severe Weather Insurance
A new report reveals mixed consumer opinions on insurers using AI for severe weather predictions, highlighting the need for transparency and education to build trust in these tools.
January 21
Insurance Industry
Property
Risk Management
Technology
Connecticut
Efforts Intensify to Combat Fraud Targeting Wildfire Survivors in Southern California
California authorities, including Insurance Commissioner Ricardo Lara, are addressing rising fraud cases after wildfires, deploying resources to protect survivors and prosecute scammers.
January 21
Catastrophe
Fraud
Litigation
Risk Management
California
Florida and Alabama Declare Emergencies as Rare Snowstorm Approaches
Florida and Alabama declared states of emergency as a rare snowstorm approached the region, prompting closures, emergency measures, and National Guard activation.
January 21
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
Alabama
Florida
Cyber Insurance Growth Set to Continue Amid Evolving Threat Landscape
As cyber risks grow more complex, the insurance market is evolving with higher limits, new coverage options, and reinsurance strategies to meet increasing demand.
January 20
Insurance Industry
Risk Management
Technology
General Motors Agrees to FTC Settlement Over Driver Data Privacy Issues
General Motors will be restricted from collecting and sharing driver data for five years following an FTC settlement addressing claims of undisclosed data sales to third parties.
January 20
Legislation & Regulation
Litigation
Risk Management
Technology
Texas
LA Wildfires Cause $1.9M Average Insured Loss Per Structure, Over 17,000 Properties Impacted
The Palisades and Eaton wildfires in Los Angeles have damaged or destroyed 17,027 structures, with estimated insured losses reaching $32.5 billion, making this one of the costliest wildfire events in U.S. history.
January 20
Catastrophe
Excess & Surplus Lines
Property
Risk Management
California
What the Basquiat Forgeries Teach About Art Insurance for Homeowners
The $19.7 million Basquiat forgery case highlights the importance of proper appraisals and tailored insurance coverage for art and collectibles, even for homeowners.
January 20
Insurance Industry
Litigation
Property
Risk Management
Florida
