Homeowners Face 21% Insurance Premium Increase, Climate Change Cited as Major Factor
Homeowners insurance premiums surged by 21% from May 2022 to May 2023, largely due to severe weather events driven by climate change, leaving many homeowners with limited options.
July 29, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Property
California
Colorado
Florida
Idaho
Louisiana
DOJ Sues Allstate’s National General for Allegedly Deceptive Insurance Practices
The U.S. alleges that National General Holdings Corp. improperly force-placed insurance on vehicles financed through Wells Fargo for over a decade, causing financial harm to borrowers.
July 26, 2024
Auto
Fraud
Insurance Industry
Legislation & Regulation
Litigation
Arizona
California
Delaware
Missouri
New Hampshire
Evolving Responsibilities for Public Company Directors and Officers
Directors and Officers of public companies face new challenges with SEC disclosure rules on cybersecurity and climate-related risks, increasing their potential exposure.
July 26, 2024
Legislation & Regulation
Liability
Litigation
Technology
California
HeatRisk Tool Faces Real-World Challenges Amidst Rising US Temperatures
The HeatRisk forecasting tool, launched by the CDC and NOAA, is undergoing real-world testing as extreme temperatures stress many parts of the US, providing localized heat warnings to protect vulnerable populations.
July 25, 2024
Legislation & Regulation
Life & Health
Risk Management
Technology
Arizona
California
Florida
Washington
Emerging Challenges in US Workers’ Compensation Market: Swiss Re Analysis
After a decade of profitability, the US workers’ compensation insurance market faces new risks, requiring disciplined underwriting to maintain stability.
July 23, 2024
Insurance Industry
Risk Management
Underwriting
Workers' Compensation
California
New Jersey
New York
Home Insurance Crisis: Rising Costs and Climate Challenges
Rising climate-related risks and regulatory challenges are driving up home insurance costs, making homeownership more difficult for many Americans.
July 23, 2024
Insurance Industry
Legislation & Regulation
Property
Risk Management
California
Connecticut
Florida
NBA Teams Sued for Copyright Infringement in Social Media Videos
Fourteen NBA teams are accused of using copyrighted music in social media promotional videos without proper licensing, leading to multiple lawsuits by Kobalt and other music companies.
July 23, 2024
Insurance Industry
Legislation & Regulation
Litigation
Technology
Arizona
California
Colorado
Florida
Georgia
Increasing Risk in Sensitive Data Communications: Kiteworks 2024 Report
The 2024 Kiteworks report highlights the rising risks associated with the proliferation of communication tools, data exchanges with third parties, and inadequate governance, emphasizing the urgent need for enhanced data security and compliance measures.
July 22, 2024
Insurance Industry
Litigation
Risk Management
Technology
California
Mulch: An Overlooked Fire Hazard in California’s Landscaping
In wildfire-prone California, mulch can inadvertently create a fire hazard, prompting homeowners to consider safer landscaping alternatives.
July 22, 2024
Catastrophe
Insurance Industry
Property
Risk Management
California
California Insurance Commissioner Calls for In-Depth Analysis of Silicosis Workers’ Compensation Claims
California Insurance Commissioner Ricardo Lara has requested a comprehensive study from the WCIRB on workers’ compensation claims for silicosis, aiming to better understand and support affected workers.
July 22, 2024
Insurance Industry
Legislation & Regulation
Life & Health
Workers' Compensation
California
Niches: The Future of the Insurance Market?
Skyward Specialty’s CEO Andrew Robinson shares insights on the power of focusing on niche markets in insurance.
July 19, 2024
Insurance Industry
Risk Management
Technology
Underwriting
California
New Study Uncovers State Variations in Workers’ Compensation for First Responders’ Mental Health
Recent research from the FIRST Center highlights significant differences in state workers’ compensation laws for first responders with mental health conditions, emphasizing the need for uniform presumption laws.
July 16, 2024
Legislation & Regulation
Life & Health
Risk Management
Workers' Compensation
Alaska
Arizona
California
Colorado
Connecticut
Addressing Rising Insurance Costs Through Education and Resilience
Triple-I emphasizes the importance of consumer education and community resilience to mitigate rising insurance costs driven by inflation, litigation, and natural disasters.
July 11, 2024
Education & Training
Legislation & Regulation
Property
Risk Management
California
Florida
Louisiana
Former New Orleans Police Officer Indicted in Botched Art Insurance Scam
A former New Orleans police officer faces up to 75 years in prison for orchestrating a fraudulent art heist insurance claim worth $128,500.
July 8, 2024
California
Louisiana
Nevada
AI Helps Cut Workers Comp Costs by Identifying Fraud and Difficult Claims
Artificial intelligence is aiding insurers and employers in reducing workers comp costs by identifying difficult and fraudulent claims, but it remains a tool for claims handlers rather than a replacement.
July 8, 2024
Fraud
Insurance Industry
Technology
Workers' Compensation
California
Georgia
Massachusetts
Missouri
