Hurricane Helene’s Impact Pressures Florida’s Struggling Insurance Market
Hurricane Helene’s destructive force on Florida’s properties highlights the fragility of the state’s insurance market, with rising premiums, reinsurance challenges, and climate change amplifying risks.
September 30, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Hurricane Helene Causes Up to $34 Billion in Total Economic Impact, Moody’s Reports
Hurricane Helene made landfall as a Category 4 storm, leading to widespread property damage, power outages, and disruptions. Analysts predict total costs ranging from $20 billion to $34 billion, with insurance losses still being assessed.
September 30, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Florida
Navigating the Complexities of Alcohol and Marijuana in Life Insurance Claims
Alcohol and marijuana present unique challenges in life and AD&D claims. While alcohol regulations are uniform, marijuana’s state-by-state legality and unpredictable effects complicate claim decisions and risk management.
September 30, 2024
Legislation & Regulation
Liability
Life & Health
Risk Management
Strategies to Reduce the Impact of Wildfires: Lessons from the Lahaina Fire
Experts urge adopting fire-resistant building practices, fuel breaks, and structure spacing to minimize damage and loss in future wildfires, following the devastating Lahaina fire in Hawaii.
September 30, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Hawaii
AI’s Impact on Insurance Pricing: New Strategies for Risk and Profitability
Artificial intelligence is revolutionizing insurance pricing by enhancing risk assessment, personalizing premiums, and improving operational efficiency, though significant challenges remain in infrastructure, data quality, and compliance.
September 30, 2024
Auto
Insurance Industry
Risk Management
Technology
Hurricane Helene Set to Hit Florida Tonight with Life-Threatening Storm Surge and 40 Million Under Warnings
Hurricane Helene, a rapidly intensifying Category 2 storm, is expected to make landfall as a Category 4 hurricane in Florida, bringing 15-20 foot storm surges and affecting millions across the Gulf Coast.
September 26, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Alabama
Florida
Georgia
Florida’s Insurance Market Faces Uncertainty as Hurricane Helene Approaches
As Hurricane Helene threatens Florida’s Gulf Coast, concerns rise over the stability of the state’s recovering insurance market. Despite progress, losses could still reach billions.
September 26, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Hurricane Helene Targets Florida with Powerful Storm Surge and Inland Flooding Threats
Hurricane Helene is intensifying as it heads toward Florida’s Gulf Coast, threatening life-threatening storm surges, widespread flooding, and strong winds that will reach far inland across the Southeast.
September 25, 2024
Catastrophe
Litigation
Property
Risk Management
Alabama
Florida
Georgia
Kentucky
North Carolina
Man Sentenced in $2.8 Million Sydney Jeweler Heist Insurance Fraud
Shanel Tofaeono has been sentenced to over four years in prison after pleading guilty to staging a fake robbery of a luxury Sydney jewelry store as part of a $2.8 million insurance fraud scheme.
September 25, 2024
Fraud
Insurance Industry
Liability
Litigation
Florida Braces for Tropical Storm Helene as Evacuations Begin
Florida residents are evacuating as Tropical Storm Helene intensifies. The storm is projected to become a Category 3 hurricane with dangerous storm surges along the Gulf Coast, prompting emergency responses.
September 25, 2024
Florida
Georgia
Indiana
Kentucky
Tennessee
Why Hurricane Helene Could Be One of the Most Dangerous Storms in Years
Hurricane Helene is forecast to intensify rapidly as it nears Florida, with major impacts expected across the Southeast, including extreme winds, flooding, and widespread storm surge.
September 25, 2024
Catastrophe
Litigation
Property
Risk Management
Florida
Georgia
North Carolina
South Carolina
California Wildfire Season Intensifies Without Key Factor, Raising Concerns for the Coming Months
California has faced a severe wildfire season fueled by heat and dried-out vegetation, even without the seasonal winds that typically escalate fire risks. Experts warn that conditions could worsen as fall progresses.
September 24, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
California
CEOs Sharpen Focus on Cybersecurity and Generative AI Amid Volatility
The 2024 KPMG CEO Outlook highlights how business leaders are tackling cybersecurity risks, generative AI implementation, and mergers and acquisitions to stay ahead in an era of compound volatility.
September 24, 2024
Risk Management
Technology
Generative AI’s Expanding Role in Insurance: Beyond Efficiency to Product Innovation
Generative AI is moving beyond enhancing efficiency for insurance professionals. It now holds potential for transforming risk management, customer interaction, and even product offerings.
September 24, 2024
Auto
Insurance Industry
Risk Management
Technology
Actuarial Studies Tackle Bias, AI, and Modeling in Insurance Pricing
The Casualty Actuarial Society has released four new reports that explore bias in insurance pricing models, AI usage, and regulatory concerns, aiming to guide actuaries toward fairness and compliance.
September 24, 2024
Auto
Legislation & Regulation
Risk Management
Technology
