Cybercrime on the Rise: Most Americans Report Scam Attempts

A recent report highlights that nearly all Americans have been targeted by digital scams, with billions lost annually to sophisticated cybercrime schemes.
November 15, 2024 Fraud Insurance Industry Risk Management Technology

AI Revolutionizes Hurricane Forecasting with Unprecedented Accuracy

AI weather models like GraphCast demonstrated remarkable accuracy during this hurricane season, outperforming traditional models in predicting storm tracks but facing challenges with intensity forecasting.
November 15, 2024 Catastrophe Risk Management Technology Louisiana Texas

Worker Deaths Decline as OSHA Focuses on Safety Enforcement and Education

A new OSHA report shows an 11% drop in worker fatalities, with significant declines in deaths from trench collapses and falls, attributed to targeted safety efforts, enforcement, and outreach initiatives.
November 14, 2024 Education & Training Legislation & Regulation Risk Management Workers' Compensation

North Carolina Insurance Agent Faces Charges for Forgery and Embezzlement

A North Carolina insurance agent faces embezzlement charges after allegedly taking premiums without securing policies, following a history of regulatory penalties and surrendered licenses.
November 14, 2024 Fraud Insurance Industry Legislation & Regulation Liability North Carolina

New Climate Research Reveals Worsening Global Conditions in 2024

As COP29 unfolds in a year of record-high temperatures, new research reveals accelerating climate effects, from supercharged storms and wildfire deaths to a slowing Atlantic current, raising concerns about a range of tipping points.
November 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida North Carolina

New Hampshire Supreme Court Strikes Down Geico’s Underinsured Motorist Claim Deadline

The New Hampshire Supreme Court ruled that a Geico policy requiring underinsured motorist claims within three years of an accident is unenforceable, citing conflicts with state law designed to protect injured insureds.
November 14, 2024 Auto Insurance Industry Legislation & Regulation Litigation New Hampshire

How AI is Changing Medicare Advantage Claims Denials in Healthcare

AI is reshaping Medicare Advantage claim approvals, raising concerns among healthcare providers over denial rates. As technology automates prior authorization, hospitals and patients face delays and challenges in accessing essential care.
November 14, 2024 Insurance Industry Legislation & Regulation Life & Health Technology Connecticut

Massachusetts Wildfires Spread as Drought and High Winds Intensify Risks

Ongoing drought and high winds have sparked severe brush fires across Massachusetts, with over 1,500 acres already burned this season. Officials urge caution as red flag warnings remain in place.
November 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Maine Massachusetts New Hampshire

GM Issues Recall on Diesel Pickups and SUVs Over Rear Wheel Lock-Up Risk

General Motors is recalling nearly 462,000 Chevrolet, GMC, and Cadillac vehicles with diesel engines due to a defect in the transmission control valve that could cause rear wheels to lock up, raising crash risks.
November 14, 2024 Auto Legislation & Regulation Risk Management Technology

UK Class Action Alleges Apple Monopolizes Data Storage, May Face Billions in Damages

Apple faces a UK class action alleging it unfairly dominates the data storage market by limiting consumer options for external storage. The lawsuit, filed in London, seeks up to £3 billion in damages and highlights ongoing concerns over monopolistic practices by tech giants.
November 14, 2024 Legislation & Regulation Litigation Risk Management Technology

Allstate Seeks Repayment from Hyundai, Kia Over Vehicle Fire Claims

Allstate and subsidiaries are suing Hyundai and Kia, claiming the automakers failed to address known fire risks in certain vehicles, resulting in insurance payouts for damages related to vehicle fires.
November 14, 2024 Auto Liability Litigation Subrogation California

Rising Inland Flood Risk Demands Urgent Attention in U.S.

The Insurance Information Institute’s latest report highlights the increasing flood risks faced by inland areas due to shifting weather patterns. Hurricanes, tropical storms, and thunderstorms are pushing the boundaries of flood-prone regions, underscoring the need for better insurance coverage, flood resilience, and mitigation strategies to bridge the protection gap in non-coastal communities.
November 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Kentucky New Jersey New York

Commercial Auto Insurance Faces Steep Losses Despite Rate Hikes, AM Best Reports

Despite over a decade of rate hikes and underwriting reforms, the commercial auto insurance sector has faced escalating losses, with 2023 marking its worst year on record due to high claims costs, social inflation, and other persistent challenges.
November 14, 2024 Auto Litigation Risk Management Underwriting

New York Court Dismisses Homeowner’s Construction Defect Claim Over Missed Filing Deadline

A New York court dismissed a homeowner’s breach of contract claim for delayed filing, ruling that the lawsuit, filed almost seven years after project completion, was beyond the six-year statute of limitations for construction defect claims. Pandemic-related deadline extensions could not save the case.
November 14, 2024 Legislation & Regulation Litigation Property Risk Management New York

Tesla Cybertruck Recall of 2,400 Units Marks Sixth This Year

Tesla recalls 2,400 Cybertrucks in the U.S. over a faulty driver inverter that could cause loss of power, raising crash risks. This latest issue, which affects Cybertrucks manufactured through July 30, follows several other recalls issued in 2024.
November 14, 2024 Auto Legislation & Regulation Risk Management Technology
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