Florida’s insurance market is stabilizing, with reinsurance supply outpacing demand for the first time in years. However, challenges remain, particularly in the lower layers of reinsurance coverage, where costs continue to rise.
Saint Vincent’s Catholic Medical Centers of New York will pay $29 million to settle allegations of False Claims Act violations related to overpayments from the Department of Defense for healthcare services provided to retired military members and their families.
Two Estonian men have pleaded guilty to running a $577 million cryptocurrency Ponzi scheme that defrauded hundreds of thousands worldwide. They now face up to 20 years in prison.
As fast-food employees prepare meals, they also face an increasing risk of customer aggression. Recent violent incidents highlight the dangers of frontline service jobs.
A proposed bill seeks to abolish OSHA, shifting workplace safety to individual states. The move could increase injuries, raise workers’ compensation costs, and create legal and financial challenges for employers and insurers.
AI, blockchain, and biometric verification are transforming fraud detection in insurance. These technologies enhance security, streamline claims processing, and prevent financial losses.
Four pharmacists were sentenced for defrauding Medicare, Medicaid, and private insurers of over $13 million by billing for medications they never dispensed at multiple pharmacies.
Former Ohio insurance agent Rhonda Chandler received probation and faces prison if she violates terms after pleading guilty to stealing over $1.4 million in pre-need funeral insurance funds.
Artificial intelligence is revolutionizing life insurance by enhancing efficiency, improving customer experiences, and reshaping risk management, while also introducing new challenges.
NIL collectives are reshaping amateur athletics, bringing unique liability risks. Without clear regulations, insurers must assess coverage needs for management liability and compliance challenges.
Hailstorms can cause severe property damage, but proactive steps like impact-resistant roofing, storm shutters, and tree maintenance can help reduce risk and protect your home.
Overlooking excluded risks in exposure management can lead to financial strain for insurers. A proactive approach helps mitigate costs from non-indemnifiable claims.
Loneliness is becoming a significant societal issue, and fraudsters are taking full advantage of it. Romance scams—where criminals exploit social isolation to build fraudulent online relationships—are already costing victims billions.
With climate disasters becoming more frequent and severe, insurers must shift from compensation to prevention, using technology and data to reduce risks before catastrophe strikes.
