A recent study highlights how removing federal subsidies from climate-vulnerable areas can reduce development, increase flood resilience, and generate savings, while emphasizing the challenges of balancing housing demand with disaster risk.
A powerful tornado, part of Hurricane Milton’s aftermath, caused significant damage in Palm Beach Gardens, Florida, including launching an industrial dumpster onto a home’s roof.
A 2024 federal appeals court ruling clarifies that employers can be held liable for harassment originating from personal social media posts that affect the workplace, emphasizing the need for clear guidelines.
Generative AI has the potential to revolutionize the insurance industry by streamlining operations, enhancing customer service, and improving risk management. However, insurers must address ethical, regulatory, and data challenges to fully unlock its benefits.
After Hurricane Milton weakened before landfall, investors in catastrophe bonds are facing losses well below earlier estimates, with single-digit hits predicted instead of the feared 15%.
Hurricane Milton brought intense winds, widespread destruction, and left millions without power in Florida. While storm surge impacts were less severe than anticipated, damage to homes, power lines, and infrastructure is widespread.
Moody’s reports that Hurricane Milton, which struck Florida as a Category 3 storm, will likely impact both primary insurers and reinsurers, with ceded losses increasing as total damages rise.
Despite recent hurricane challenges, Florida’s property insurance market is showing resilience, with reforms leading to rate reductions, new insurer entries, and declining reinsurance costs in 2024.
Florida’s CFO Jimmy Patronis has introduced an emergency rule to improve the claims adjustment process, requiring adjusters to disclose changes to damage estimates and provide detailed explanations for any modifications, ensuring transparency for insurance policyholders.
Hurricane Helene, a Category 4 storm, caused catastrophic flooding and destruction from Florida’s coast to the Southern Appalachians. Research shows climate change intensified its rainfall, winds, and flooding risks.
A proposed class action accuses Sterling Mets, L.P., the company behind Citi Field, of illegally collecting and sharing visitors’ biometric data using facial recognition technology, violating New York City’s biometrics law.
Ransomware severity spiked, driving a 14% increase in claims, while AI contributed to rising business email compromise cases in the first half of 2024.
A former insurance agent from Mission Viejo has been convicted on 90 counts of insurance fraud, theft, and elder abuse after stealing nearly $200,000 in premium payments and leaving 32 clients without coverage.
A cyberattack on American Water, the largest U.S. regulated water utility, has paused billing services and renewed concerns over the security of critical infrastructure.
