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California Wildfire Season Intensifies Without Key Factor, Raising Concerns for the Coming Months

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

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’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

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

Hurricane Threat Looms for Gulf Coast as Atlantic Storm Intensifies

Hurricane Threat Looms for Gulf Coast as Atlantic Storm Intensifies

A developing Atlantic storm poses a significant hurricane risk to the US Gulf Coast, stretching from Mississippi to Florida. Forecasters predict rapid intensification as it moves north through warm Gulf waters, threatening major landfall.
September 23, 2024 Catastrophe Litigation Property Risk Management Florida Mississippi

California Firefighter Arrested for Allegedly Starting Five Brush Fires in Northern California

California Firefighter Arrested for Allegedly Starting Five Brush Fires in Northern California

A firefighter in Northern California has been arrested for allegedly starting five brush fires while off duty, raising concerns about internal misconduct within fire agencies.
September 23, 2024 Catastrophe Legislation & Regulation Litigation Property California

New Jersey Supreme Court Expands Duty of Care for Sidewalks Next to Vacant Commercial Properties

New Jersey Supreme Court Expands Duty of Care for Sidewalks Next to Vacant Commercial Properties

The New Jersey Supreme Court ruled that commercial landowners, including those with vacant properties, must maintain public sidewalks abutting their properties in safe condition, aligning with broader public policy principles.
September 23, 2024 Legislation & Regulation Liability Litigation Property New Jersey

Rising Elder Fraud Losses Highlight Need for Personal Cyber Insurance

Rising Elder Fraud Losses Highlight Need for Personal Cyber Insurance

As elder fraud losses soar past $3.4 billion, cybersecurity risks grow more complex. Personal cyber insurance offers broader protection, covering identity theft, online fraud, and other cybercrimes targeting vulnerable populations.
September 23, 2024 Fraud Insurance Industry Life & Health Technology

Evolving Worker Activity Tools Now Powering AI Data Generation in the Insurance Industry

Evolving Worker Activity Tools Now Powering AI Data Generation in the Insurance Industry

COVID-era worker activity monitoring tools have evolved into sophisticated AI data generators, helping insurers tackle rising repair costs, litigation, and labor shortages while improving operational efficiency.
September 23, 2024 Auto Litigation Risk Management Technology

Workers’ Compensation Outpaces P&C Lines with Sustained Profitability and Low Claims Frequency

Workers’ Compensation Outpaces P&C Lines with Sustained Profitability and Low Claims Frequency

Workers' compensation continues to boost the property and casualty insurance industry with an 88.7 combined ratio in 2023, driven by reduced claims frequency, workplace safety, and competitive market conditions.
September 23, 2024 Insurance Industry Legislation & Regulation Risk Management Workers' Compensation

Climate Change Drives Global Surge in Fires, Floods, and Drought

Climate Change Drives Global Surge in Fires, Floods, and Drought

The impact of climate change is becoming more visible worldwide, with intensifying wildfires, severe droughts, and devastating floods affecting regions from Brazil to Southeast Asia.
September 19, 2024 Catastrophe Litigation Property Risk Management California North Carolina

Nintendo Sues Pocketpair Over Alleged Patent Infringement in Hit Game Palworld

Nintendo Sues Pocketpair Over Alleged Patent Infringement in Hit Game Palworld

Nintendo and affiliate Pokemon Co. have filed a lawsuit against Pocketpair Inc. for alleged patent infringement tied to Palworld, citing gameplay mechanics as a potential issue. The case seeks an injunction and damages.
September 19, 2024 Insurance Industry Litigation Technology

Ohio’s Strategy to Attract and Train Insurance Talent

Ohio’s Strategy to Attract and Train Insurance Talent

Ohio's successful collaboration between universities, insurance companies, and stakeholders offers an effective model for recruiting and educating new talent in the insurance and risk management fields.
September 19, 2024 Education & Training Insurance Industry Risk Management Technology Ohio

NFL Teams Losing Millions in Cap Space by Skipping Insurance on Star Quarterbacks

NFL Teams Losing Millions in Cap Space by Skipping Insurance on Star Quarterbacks

The Aaron Rodgers injury and Jets' decision to skip insurance on his contract highlight how NFL teams can lose significant cap space and insurance proceeds when failing to protect high-value players.
September 18, 2024 Insurance Industry Legislation & Regulation Litigation Risk Management California Florida New York Ohio Pennsylvania

Insurance HR Professionals Tackle Talent Retention and AI Concerns in 2024

Insurance HR Professionals Tackle Talent Retention and AI Concerns in 2024

Insurance industry HR leaders continue to battle long-standing challenges like talent retention, while preparing for AI's impact on workforce management in 2024.
September 18, 2024 Insurance Industry Risk Management Technology Workers' Compensation
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