Cybersecurity Ventures estimates cybercrime will take a $10.5 trillion toll on the global economy by 2025. If it were measured as a country, the underground cybercriminal economy would be the third largest in the world after the U.S. and China.
There are few for whom I have more respect than soldiers. Those men and women who choose to put themselves to the test in unimaginably difficult ways under extreme conditions, who risk life and limb in the service of their country, and who stand guard over liberty have my highest respect and deepest thanks.
The future insurability of Florida hurricanes is in question because of storm severity, the state’s storm-exposed coastal topography and development patterns, and Florida’s high-cost legal environment. These factors combine to make coverage for hurricane risks in Florida the most expensive in the country.
More than $950 million in lightning-caused U.S. homeowners insurance claims were paid out in 2022 to 62,000-plus policyholders, with $125 million of the total attributable to California alone, according to the Insurance Information Institute (Triple-I.).
A destructive tornado tore through Perryton, Texas leaving a trail of devastation in its wake. The tornado, which directly struck the heart of the community, has claimed the lives of three individuals and caused significant damage to hundreds of homes and businesses.
A jury on Wednesday ordered the electric utility PacifiCorp to pay punitive damages for causing devastating wildfires in Oregon in 2020 -- on top of an earlier verdict already expected to amount to billions of dollars.
The courtroom was impassioned, to say the least, and downright angry at what they were hearing. In our post-COVID-19 reality, the claimant in a workers’ compensation case was presenting lengthy testimony by video. The judge sat calmly as the claimant spoke about a seemingly horrific injury.
The National Highway Traffic Safety Administration (NHTSA) said in a letter to major automakers they must comply with a federal vehicle safety law and not with a state law that requires open remote access to vehicle telematics and vehicle-generated data.
Detectives with the Plano Police Department said suspected thieves stole more than $2.5 million worth of trucks and SUVs from around North Texas. Details about the alleged crimes, which reads like a crime series on a streaming platform, were detailed in an arrest probable cause affidavit.
Escalating claims alleging excessive force by police officers, rising liability awards and increased mental health concerns for officers are among the top risk management challenges for public entity risk managers, experts say.
The Central Pacific hurricane season has started, and this year, the Nature Conservancy has purchased $2 million in insurance coverage to protect against potential damage to the coral reefs in Hawaii.
Floods pose a severe threat to communities across the United States, causing extensive property damage and potential risks to human life. Recognizing the importance of identifying flood-prone cities, Insurify developed a flood risk score, taking into account FEMA’s risk scores for coastal and river flooding, population data, average home insurance premiums, and average home values.
As property insurers flee California, a state riven by billion-dollar wildfires, mudslides, and the ever-present threat of a catastrophic earthquake, state lawmakers on Wednesday will take up the complex but necessary issue of how to convince the carriers to stay.
