
Pennsylvania Court Rules Against Pension Offset in Post-Retirement Injury Case
In a Pennsylvania case, the court ruled that a county couldn't offset pension payments against workers' compensation benefits for a retiree who was injured after returning to work part-time, citing the "absurdity doctrine."
August 19, 2024
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
Pennsylvania

Toronto Man Faces Over 100 Charges in Major Auto Fraud and ReVINing Investigation
A Toronto resident has been arrested and faces more than 100 charges in connection with an extensive auto fraud and reVINing scheme. Police warn potential buyers to check vehicle history reports carefully.
August 19, 2024
Auto
Fraud
Insurance Industry
Legislation & Regulation

ILS Capacity Expands Slightly as Catastrophe Bond Issuance Hits Record High
The insurance-linked securities (ILS) market is experiencing moderate capacity growth, driven by record-setting catastrophe bond issuance and market demand, according to AM Best's latest report.
August 19, 2024
Catastrophe
Insurance Industry
Property
Risk Management

Insurance Industry Braces for Major Hiring Boom in 2024
The insurance industry is gearing up for significant employment growth in 2024, with over half of companies planning to expand their workforce despite ongoing recruitment challenges.
August 19, 2024
Insurance Industry
Property
Technology
Underwriting

Traditional or Digital? Which Insurance Model Will Prevail?
As the insurance industry evolves, the debate intensifies: will established traditional insurers maintain dominance, or will innovative, digital-first companies lead the future by meeting evolving customer expectations?
August 19, 2024
Insurance Industry
Risk Management
Technology
Underwriting

Electric Vehicle Claims Spike Amid Market Shift in Q2 2024
In Q2 2024, U.S. and Canadian collision claims for electric vehicles saw significant increases, despite a downturn in EV sales. Hybrid vehicles also experienced rising claims frequency, highlighting shifting market dynamics.
August 15, 2024
Auto
Insurance Industry
Risk Management
Technology
California

Managing Challenges in Late-Reported Property Claims
Late-reported property claims pose unique challenges for insurers and adjusters, particularly when determining the cause and policy period of a loss. Thorough investigations and documentation are crucial to mitigate risks of litigation and bad faith claims.
August 15, 2024
Insurance Industry
Litigation
Property
California
Florida
Louisiana
New York
Texas

Risk Management Strategies Crucial for PFAS-Related Litigation
With the potential for boundless litigation involving PFAS chemicals, companies must prioritize risk management strategies to identify, assess, and mitigate exposure before costly legal battles arise.
August 15, 2024
Catastrophe
Litigation
Property
Risk Management
New Jersey

Disney Cites Disney+ Fine Print in Bid to Dismiss Wrongful Death Lawsuit
Disney is attempting to dismiss a wrongful death lawsuit related to a fatal allergic reaction at one of its restaurants, arguing that the plaintiff is bound by an arbitration clause from a Disney+ trial he signed up for years earlier.
August 15, 2024
Insurance Industry
Liability
Litigation
Risk Management
Florida
New York

Taco Truck Owner Arrested After Staging Robbery and Arson for Insurance Payout
A Visalia taco truck owner has been arrested for staging a robbery and arson in an attempt to defraud insurance companies. Surveillance footage and a linked accomplice led authorities to uncover the plot, resulting in charges of conspiracy, arson, and insurance fraud.
August 14, 2024
Auto
Fraud
Litigation
Property
California

Ernesto Becomes Hurricane After Devastating Caribbean, Power Outages Widespread
Hurricane Ernesto intensifies after battering the northeast Caribbean, leaving Puerto Rico and the U.S. Virgin Islands with widespread power outages, severe flooding, and disrupted services as it heads towards Bermuda.
August 14, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management

Majority of Hurricane Debby Damage Occurred Outside FEMA Flood Zones, Highlights Coverage Gaps
Hurricane Debby caused $12.3 billion in damage, with 78% of affected properties located outside FEMA-designated flood zones. The event underscores the need for updated flood risk assessments and broader insurance coverage.
August 14, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Georgia
Maryland
North Carolina
Pennsylvania

UK Riots Expected to Have Minimal Financial Impact on Insurance Sector
Recent UK riots may test the effectiveness of the UK Riot Compensation Act 2016, but overall losses are expected to remain manageable for British insurers, with claims likely staying below GBP 250 million.
August 14, 2024
Legislation & Regulation
Litigation
Property
Risk Management

GM Recalls 21,469 Cadillac Lyriq Models Due to Unexpected ABS Activation
General Motors recalls certain 2023-2024 Cadillac Lyriq models due to a potential defect in the ABS, which may activate unexpectedly and lead to a loss of brake pressure, increasing the risk of accidents.
August 14, 2024
Auto
Litigation
Risk Management
Technology
Michigan

SEC Targets NovaTech and Leaders in $650 Million Global Crypto Scheme
The SEC has charged NovaTech Ltd. and its principals with defrauding over 200,000 investors in a $650 million crypto scheme, targeting the Haitian-American community and relying on a multi-level marketing structure to solicit funds.
August 14, 2024
Fraud
Legislation & Regulation
Litigation
Technology
California
Florida
New York



