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Navigating the Intersection of ESG Principles and Risk Management in Modern Business

Navigating the Intersection of ESG Principles and Risk Management in Modern Business

Integrating Environmental, Social, and Governance (ESG) principles with robust risk management strategies is key to fostering sustainable business practices, improving compliance, and enhancing long-term resilience in a volatile market.
August 28, 2024 Risk Management Technology

Increased Heat Levels Raise Workplace Injury Risks, Workers’ Compensation Data Reveals

Increased Heat Levels Raise Workplace Injury Risks, Workers’ Compensation Data Reveals

A recent analysis by Colorado’s largest workers’ comp insurer highlights a 52% rise in workplace injuries when temperatures exceed 90 degrees (F), emphasizing the importance of heat safety measures for indoor and outdoor workers.
August 27, 2024 Insurance Industry Risk Management Workers' Compensation Colorado

Fanatics Expands Lawsuit to Include Marvin Harrison Sr. in Fraud Allegations Against Harrison Jr.

Fanatics Expands Lawsuit to Include Marvin Harrison Sr. in Fraud Allegations Against Harrison Jr.

Fanatics has amended its lawsuit against Cardinals receiver Marvin Harrison Jr., now accusing both him and his father, Hall of Famer Marvin Harrison Sr., of fraudulently inducing the company into an agreement that Harrison Jr. allegedly never intended to honor.
August 27, 2024 Fraud Insurance Industry Liability Litigation

Simplifying Insurance: Why Clear Language Matters More Than Buzzwords

Simplifying Insurance: Why Clear Language Matters More Than Buzzwords

The insurance industry is ripe with innovation, but the overuse of vague buzzwords like "transformation" and "disruption" dilutes meaningful progress. A call for precise and straightforward communication can better serve clients, investors, and the industry itself.
August 27, 2024 Insurance Industry Legislation & Regulation Risk Management Technology

Federal Policy Conflicts Could Raise Flood Insurance Costs, Leave Thousands Unaware of Dam Risks

Federal Policy Conflicts Could Raise Flood Insurance Costs, Leave Thousands Unaware of Dam Risks

Conflicting federal policies hinder communities from accessing vital dam failure data, potentially raising flood insurance costs and leaving residents unaware of flood risks.
August 26, 2024 Catastrophe Legislation & Regulation Property Risk Management Arizona California Colorado Georgia Minnesota

Ransomware Claims Drive Severe Losses as Cyber Threats Surge in 2024

Ransomware Claims Drive Severe Losses as Cyber Threats Surge in 2024

Resilience’s midyear 2024 report reveals ransomware as the leading cause of cyber losses, with a sharp increase in the severity of claims, largely driven by third-party risks and vendor failures.
August 26, 2024 Insurance Industry Risk Management Technology

Rising Vessel Complexity and Size Escalate Risks in Global Marine Insurance Market

Rising Vessel Complexity and Size Escalate Risks in Global Marine Insurance Market

As vessels grow in size and complexity, the global marine insurance market faces heightened risks, leading to increased volatility and the need for long-term strategies to manage major losses.
August 26, 2024 Insurance Industry Marine Risk Management Underwriting

Modernizing Freight Claims: The Carmack Amendment’s Role in Today’s Logistics

Modernizing Freight Claims: The Carmack Amendment’s Role in Today’s Logistics

The Carmack Amendment has long served as a legal foundation for freight claims in the U.S., but evolving logistics and e-commerce trends challenge its relevance, necessitating fresh strategies for claims professionals.
August 26, 2024 Legislation & Regulation Risk Management Technology Tennessee

Hurricane Rainfall Predicted to Intensify in Frequency and Impact

Hurricane Rainfall Predicted to Intensify in Frequency and Impact

A DeepSky Research report predicts a 300% rise in extreme hurricane rainfall frequency and a 33% increase in severity, highlighting the urgent need for preparedness as hurricane impacts are expected to worsen rapidly.
August 26, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Louisiana Mississippi North Carolina South Carolina

Harnessing AI for Agricultural Insurance: Enhancing Risk Management and Claims Efficiency

Harnessing AI for Agricultural Insurance: Enhancing Risk Management and Claims Efficiency

AI is transforming agricultural insurance by enhancing risk management, improving claims processing, and optimizing resource use, benefiting both insurers and growers in an increasingly volatile climate.
August 26, 2024 Insurance Industry Property Risk Management Technology

Pets Overcoming Unusual Mishaps Compete for Nationwide’s 2024 Hambone Award

Pets Overcoming Unusual Mishaps Compete for Nationwide’s 2024 Hambone Award

Nationwide’s 16th annual Hambone Award highlights bizarre pet incidents like a puzzle-eating pup and a toenail-tangled parrot, with voting open through August 22, 2024, to determine the most unusual pet insurance claim.
August 21, 2024 Education & Training Insurance Industry Risk Management Weird Florida Massachusetts New Jersey North Carolina Oregon

Congress Probes Alleged Exploitative Practices by Health Insurers and MultiPlan

Congress Probes Alleged Exploitative Practices by Health Insurers and MultiPlan

Lawmakers are questioning health insurance regulators and MultiPlan’s role in reducing payments to medical providers, which may lead to higher costs for patients and employers, raising concerns about transparency and potential conflicts of interest.
August 21, 2024 Insurance Industry Legislation & Regulation Life & Health Litigation California Massachusetts Minnesota Oregon Virginia

AMAG Pharmaceuticals Denied Insurance Claim for $30M Loss Linked to 2017 Manufacturing Incident at Pfizer Plant

AMAG Pharmaceuticals Denied Insurance Claim for $30M Loss Linked to 2017 Manufacturing Incident at Pfizer Plant

After years of litigation, a Massachusetts court ruled against AMAG Pharmaceuticals, rejecting its claim for insurance coverage related to a 2017 manufacturing issue at Pfizer’s Kansas facility that led to significant business losses.
August 21, 2024 Insurance Industry Liability Litigation Property Kansas Massachusetts

Understanding the Causes Behind Connecticut’s Devastating Flash Flooding

Understanding the Causes Behind Connecticut’s Devastating Flash Flooding

The unexpected flash flooding in Connecticut resulted from a weather phenomenon known as training, where storm cells repeatedly formed over the same area.
August 21, 2024 Catastrophe Property Risk Management Connecticut New Jersey New York Pennsylvania

Car Insurance Rates Surge 26% in 2024, Costing Drivers Over $2,500 Annually

Car Insurance Rates Surge 26% in 2024, Costing Drivers Over $2,500 Annually

Car insurance premiums have soared by an average of 26% in 2024, driven by inflation, costly car repairs, and rising accident rates. States like New Jersey and Missouri saw the highest hikes, with more increases expected.
August 21, 2024 Auto Legislation & Regulation Property Risk Management
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