US Faces Mounting Losses from November Storms as Extreme Weather Intensifies
Early November storms, including tornadoes, flooding, and wildfires, caused extensive damage across multiple states, leaving insurers facing substantial losses and highlighting the rising frequency of severe weather events across the US.
November 11, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Arkansas
California
Missouri
Oklahoma
California Court Reverses Verdict in Asbestos Exposure Case, Allows Sophisticated User Defense
An appellate court in California reversed a significant asbestos exposure verdict, allowing a sophisticated user defense, and remanded the case to address unresolved allocation of fault and offset issues, providing guidance on future damage recovery for the plaintiff’s loss of consortium.
November 11, 2024
Legislation & Regulation
Liability
Litigation
Workers' Compensation
California
Florida Communities’ Resilience Investments Prove Effective Against Hurricane Milton
As Hurricane Milton hit Florida, resilience-focused communities like Babcock Ranch and Hunters Point emerged unscathed, showcasing how disaster preparedness measures protect homes and reduce long-term costs, even amid costly initial investments.
November 7, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Alabama
California
Florida
Louisiana
Oklahoma
California’s Firefighting Crisis Highlights Need for Industry Support
California faces a severe shortage of wildfire firefighters, as low pay, mental strain, and challenging conditions drive workers away. Could the insurance industry help ease the burden on those protecting at-risk properties?
November 5, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
California
FAA Finalizes Training and Certification Rules for Air Taxi Pilots, Paving the Way for Urban eVTOL Flights
The FAA’s new pilot certification and training rules for air taxis mark a major step toward the deployment of electric vertical takeoff and landing (eVTOL) aircraft, with companies eyeing 2025 for passenger services.
October 23, 2024
Legislation & Regulation
Risk Management
Technology
California
New York
California Workers’ Comp Fraud Scheme Targets $100 Million in Fraudulent Claims
Authorities in California have charged four individuals in a $100 million workers’ compensation fraud scheme involving illegal referrals, fraudulent billing, and medical providers, following a three-year investigation.
October 21, 2024
Fraud
Legislation & Regulation
Litigation
Workers' Compensation
California
California Debuts Innovative Flood Program for Isleton Residents
California introduces its first community-based flood program in Isleton, offering payouts to residents in flood zones when water levels hit specific thresholds, enhancing climate resilience.
October 21, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
California
AI in Advertising Raises Liability Concerns as Generative Technology Expands
As AI’s influence in advertising grows, both large and small businesses face new liability risks, especially in relation to Commercial General Liability policies. Insurers must prepare for emerging challenges, including chatbot misuse and privacy breaches.
October 17, 2024
Legislation & Regulation
Liability
Risk Management
Technology
California
Federal Incentive Cuts in High-Risk Areas Improve Flood Resilience, Study Finds
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.
October 14, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
California
New York
Oklahoma
Former Insurance Agent Convicted for Fraud After Stealing Nearly $200,000 in Premiums
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.
October 11, 2024
Fraud
Insurance Industry
Litigation
Property
California
California Supreme Court Exempts Public Employers from PAGA Claims on Wage and Break Laws
The California Supreme Court ruled that public employers are not subject to civil penalties under the Private Attorneys General Act (PAGA) and are exempt from certain wage and break laws unless explicitly stated.
October 11, 2024
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
California
Limp Bizkit Sues Universal Music for $200 Million Over Alleged Unpaid Royalties
Fred Durst and Limp Bizkit have filed a lawsuit against Universal Music, seeking $200 million in unpaid royalties and the return of their copyrights, alleging the label systematically withheld payments owed to the band.
October 9, 2024
Insurance Industry
Liability
Litigation
Technology
California
AI-Powered Data Tools from Carpe Data Revolutionize Insurance Fraud Detection
Carpe Data uses AI and analytics to enhance fraud detection in insurance claims, reducing loss expenses, improving operational efficiency, and speeding up claims resolution.
October 4, 2024
Fraud
Insurance Industry
Technology
Workers' Compensation
California
How Google and Tesla Could Transform California’s Home Insurance Market
Tech giants like Google and Tesla are exploring California’s homeowners insurance market, leveraging AI and big data to offer innovative, risk-adjusted policies that could reshape the industry and challenge traditional insurers like State Farm.
October 4, 2024
Insurance Industry
Property
Risk Management
Technology
California
AI Transformation in Workers’ Compensation: Benefits and Roadblocks
Artificial intelligence is set to revolutionize workers’ compensation by enhancing decision-making, streamlining claims processes, and predicting outcomes. However, challenges like data quality, transparency, and standardization must be addressed for successful integration.
October 4, 2024
Litigation
Risk Management
Technology
Workers' Compensation
California
