California Workers’ Comp Fraud Scheme Targets $100 Million in Fraudulent Claims
Authorities in California have charged four individuals in a $100 million workers’ compensation fraud scheme involving illegal referrals, fraudulent billing, and medical providers, following a three-year investigation.
October 21, 2024
Fraud
Legislation & Regulation
Litigation
Workers' Compensation
California
California Debuts Innovative Flood Program for Isleton Residents
California introduces its first community-based flood program in Isleton, offering payouts to residents in flood zones when water levels hit specific thresholds, enhancing climate resilience.
October 21, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
California
2024 U.S. Home Trends Report Reveals Impact of Hail and Catastrophes on Insurance Costs
The latest LexisNexis U.S. Home Trends Report shows increasing home insurance loss costs, driven by hail and catastrophic claims, while some weather-related perils saw declining severity in 2023.
October 21, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Worker’s Compensation Approved for Employee Injured While Intoxicated on the Job
A New York appellate court upheld workers’ compensation benefits for an intoxicated employee who fell from a ladder, ruling that intoxication was not the sole cause of the accident.
October 21, 2024
Liability
Litigation
Risk Management
Workers' Compensation
New York
New Cybersecurity Requirements Now in Effect for New York General Hospitals
New York general hospitals must now comply with cybersecurity regulations aimed at protecting patient data, requiring risk assessments, staff training, and incident reporting within 72 hours of a breach.
October 21, 2024
Legislation & Regulation
Life & Health
Risk Management
Technology
New York
Florida’s New Rule Brings Major Changes for Public Adjusters and Insurance Estimators
Florida’s Emergency Rule 69BER24-4 introduces stricter ethical guidelines and transparency requirements for all insurance adjusters, particularly impacting public adjusters, with the aim of reducing unethical practices in the claims process.
October 21, 2024
Fraud
Legislation & Regulation
Litigation
Property
Florida
Natural Catastrophe Losses in 2024 Near Average Amid Escalating Late-Season Storm Risks
Insured losses from global natural catastrophes exceeded the 10-year average, driven by frequent storms and floods, while total economic losses for 2024 remained slightly below average.
October 17, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Florida
North Carolina
Tennessee
Virginia
AI in Advertising Raises Liability Concerns as Generative Technology Expands
As AI’s influence in advertising grows, both large and small businesses face new liability risks, especially in relation to Commercial General Liability policies. Insurers must prepare for emerging challenges, including chatbot misuse and privacy breaches.
October 17, 2024
Legislation & Regulation
Liability
Risk Management
Technology
California
Hurricane Forecasts Face Backlash as Meteorologists Battle Misinformation and Threats
Despite the increasing accuracy of hurricane forecasts, meteorologists are facing growing threats, conspiracy theories, and public distrust fueled by misinformation on social media.
October 17, 2024
Catastrophe
Risk Management
Technology
Alabama
Florida
Iowa
North Carolina
Tornadoes Hit South Florida as Hurricane Milton’s Landfall Strikes Elsewhere
While Hurricane Milton’s landfall was far from southeastern Florida, dozens of tornadoes struck the region, causing significant damage to homes and killing several people across the state.
October 15, 2024
Catastrophe
Litigation
Property
Risk Management
Florida
Louisiana’s Auto Insurance Affordability Challenges Persist in 2022
Despite rising incomes, Louisiana remains the least affordable state for personal auto coverage across the South and U.S., with premiums nearly 40% above the national average.
October 15, 2024
Auto
Legislation & Regulation
Litigation
Risk Management
Florida
Louisiana
Mississippi
North Carolina
Why Hurricane Milton’s Tornado Outbreak Was So Severe and What It Means for Future Storms
Hurricane Milton triggered a deadly tornado outbreak in Florida, raising concerns over the increasing frequency of strong tornadoes linked to hurricanes. Early studies suggest a warmer world could amplify this trend.
October 15, 2024
Catastrophe
Property
Risk Management
Florida
Florida Insurers Confident in Managing Losses From Another Major Hurricane This Season
Despite concerns from rating agencies, industry experts assure that Florida’s home insurance market has enough reinsurance and financial resilience to withstand additional hurricanes this season.
October 15, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Hurricane Milton’s 123,000 Claims Signal New Reinsurance Strain, Rate Hikes Expected
Property insurance claims from Hurricane Milton have reached 123,000, triggering concerns over reinsurance price hikes and higher property insurance rates in Florida, where losses are estimated at $1.5 billion so far.
October 15, 2024
Catastrophe
Legislation & Regulation
Property
Florida
How AI and Cloud Technology Drive Agile Claims Transformation
AI, cloud computing, and data-driven platforms offer insurers an agile way to modernize claims processes, enabling incremental improvements while enhancing customer experience and reducing costs.
October 15, 2024
Insurance Industry
Risk Management
Technology
