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
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
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
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
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
Second Highest Number of Billion-Dollar Disasters by July 2024 in U.S. History: NOAA
By the end of July 2024, the United States witnessed 19 weather and climate disasters exceeding $1 billion each, making it the second-highest year-to-date count, with extreme heat, wildfires, and Hurricane Beryl playing significant roles.
August 13, 2024
Catastrophe
Insurance Industry
Property
Risk Management
California
Illinois
New Hampshire
North Carolina
West Virginia
Wildfire Risk Intensifies in 2024: Over 2.6 Million Homes at High Risk in the Western U.S.
As of mid-2024, wildfires have ravaged millions of acres in the U.S., with over 2.6 million homes at moderate or greater risk, emphasizing the crucial role of insurance and risk management in protecting communities.
August 13, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Arizona
California
Colorado
Hawaii
Idaho
California Wildfire Survivors Protected from Insurance Cancellations by New Moratorium
A new one-year moratorium issued by California’s Insurance Commissioner prevents insurance cancellations and non-renewals for over 185,000 homeowners impacted by recent wildfires in Northern and Central California, ensuring coverage as they recover.
August 12, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
California
Massive Data Breach Hits National Public Data, Exposing Nearly Three Billion Records
A breach at National Public Data has exposed 2.9 billion records, including names, addresses, and Social Security numbers, making it one of the largest data thefts ever reported.
August 8, 2024
Fraud
Litigation
Risk Management
Technology
California
Multimillion-Dollar Insurance Fraud Ringleader Admits Guilt in Spokane
William Oldham Mize, the mastermind behind a multimillion-dollar insurance fraud scheme involving staged accidents, pled guilty in Spokane Federal Court. The scheme spanned multiple states and involved numerous conspirators, resulting in over $6 million in fraudulent insurance claims.
August 8, 2024
Auto
Fraud
Insurance Industry
Litigation
California
Florida
Idaho
Nevada
Washington
Farmworkers in California Claim Retaliatory Firings for Avoiding Triple-Digit Heat
Six California farmworkers allege they were fired for leaving work early due to unsafe triple-digit temperatures, sparking investigations into potential retaliation and heat safety compliance.
August 7, 2024
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
California
Wood Pellet Plants in Southern U.S. Towns Linked to Health Issues and Pollution
Residents in predominantly Black towns like Gloster, Mississippi, report worsening health and environmental conditions since the expansion of wood pellet plants for renewable energy.
August 1, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Alabama
Arkansas
California
Louisiana
Mississippi
NOAA Proposes $575 Million for Coastal Climate Resilience
NOAA recommends $575 million in funding for 19 projects to enhance coastal climate resilience under the Investing in America agenda.
July 31, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Alaska
California
Delaware
Hawaii
Louisiana
California’s Park Fire Among Largest in State History, Consuming Nearly Half the Size of Rhode Island
The Park Fire in Northern California has grown to over 383,000 acres, making it the fifth-largest wildfire in state history, affecting four counties and threatening thousands of structures.
July 30, 2024
Catastrophe
Insurance Industry
Litigation
Property
California
