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Record-Breaking $72.5 Million Payout to Bus Accident Victim Marks One of MTA’s Largest Settlements

Record-Breaking $72.5 Million Payout to Bus Accident Victim Marks One of MTA’s Largest Settlements

A landmark $72.5 million judgment has been awarded to Aurora Beauchamp, a cancer patient severely injured by a city bus, marking one of the MTA’s largest payouts.
March 5, 2024 Catastrophe Legislation & Regulation Liability Life & Health Florida New York

State Farm’s Underwriting Loss Deepens in 2023 Despite Auto Insurance Recovery

State Farm’s Underwriting Loss Deepens in 2023 Despite Auto Insurance Recovery

In 2023, State Farm reported a significant increase in underwriting losses, driven by property line challenges despite improvements in auto insurance results.
March 4, 2024 Auto Catastrophe Insurance Industry Property

P&C Insurance Sector Faces Economic Uncertainty and Mixed Market Signals

P&C Insurance Sector Faces Economic Uncertainty and Mixed Market Signals

Economic uncertainty affects the P&C insurance market with rate hikes, profitability shifts, and changing insurance availability.
March 4, 2024 Catastrophe Insurance Industry Technology

Sierra Nevada Braces for Historic Snowfall and High Winds This Weekend

Sierra Nevada Braces for Historic Snowfall and High Winds This Weekend

A massive storm is set to deliver 6-10 feet of snow across the Sierra Nevada, challenging records and potentially isolating communities with blizzard conditions.
March 1, 2024 Catastrophe Property Risk Management California Oregon

Southern California Edison Settles for $80 Million Over 2017 Thomas Fire Damages

Southern California Edison Settles for $80 Million Over 2017 Thomas Fire Damages

Southern California Edison agrees to an $80 million settlement for the 2017 Thomas Fire, marking a significant recovery for U.S. Forest Service costs and damages.
February 27, 2024 Catastrophe Litigation Risk Management California

Atlantic Hurricane Season Predicted to be Exceptionally Severe Amid Homeowners Insurance Market Challenges

Atlantic Hurricane Season Predicted to be Exceptionally Severe Amid Homeowners Insurance Market Challenges

With homeowners insurance rates adjusting, the Atlantic faces a potentially severe hurricane season due to alarming El Niño and La Niña patterns.
February 27, 2024 Catastrophe Insurance Industry Property Risk Management

Record Climate Disasters Highlight Need for Predict & Prevent Strategy in Insurance

Record Climate Disasters Highlight Need for Predict & Prevent Strategy in Insurance

The record-breaking climate and weather disasters of 2023 underscore the urgent need for the insurance industry to adopt a Predict & Prevent approach to mitigate financial impacts and protect policyholders.
February 26, 2024 Catastrophe Property Risk Management Technology California Florida

Widespread AT&T Network Outage Disrupts Services Across the U.S.

Widespread AT&T Network Outage Disrupts Services Across the U.S.

A major outage hits AT&T’s network, leaving users without call or internet services, while local emergency services report disruptions.
February 22, 2024 Catastrophe Risk Management Technology

Climate and Weather Challenges Escalate Risks and Costs for Organizations in 2023

Climate and Weather Challenges Escalate Risks and Costs for Organizations in 2023

2023 sets a record as the warmest year since 1850, with weather-related disasters costing the US $150 billion annually.
February 22, 2024 Catastrophe Property Risk Management California Hawaii Louisiana Washington

Essential Gear for Catastrophe Adjusters

Essential Gear for Catastrophe Adjusters

Discover the non-essential essentials for catastrophe adjusters on deployment, from health safeguards to life-enhancing conveniences.
February 21, 2024 Catastrophe Education & Training Technology

Jury Finds Drug Use Not Direct Cause of Spinal Injury, Insurer Must Pay $1 Million

Jury Finds Drug Use Not Direct Cause of Spinal Injury, Insurer Must Pay $1 Million

In a landmark case, a jury ruled that LSD use was not the direct cause of a catastrophic spinal injury, requiring an insurer to cover the $1 million claim.
February 21, 2024 Catastrophe Litigation Property North Carolina Texas

NHC Unveils New Tropical Cyclone Forecast Graphic for Enhanced Wind Risk Communication

NHC Unveils New Tropical Cyclone Forecast Graphic for Enhanced Wind Risk Communication

The National Hurricane Center introduces an experimental graphic to improve wind risk communication for US inland tropical storm and hurricane alerts.
February 20, 2024 Catastrophe Risk Management Technology

Supercharged Hurricane Season Looms in 2024, Experts at AccuWeather Warn

Supercharged Hurricane Season Looms in 2024, Experts at AccuWeather Warn

With La Niña’s return and record-warm Atlantic waters, AccuWeather forecasts a potentially explosive hurricane season in 2024.
February 20, 2024 Catastrophe Marine Risk Management Texas

North Carolina’s Insurance Commissioner Challenges Proposed Rate Hikes Amid Rising Inflation

North Carolina’s Insurance Commissioner Challenges Proposed Rate Hikes Amid Rising Inflation

In response to proposed insurance rate hikes, North Carolina Insurance Commissioner Mike Causey calls for fairness and scrutiny, emphasizing the impact of inflation on homeowners.
February 19, 2024 Catastrophe Legislation & Regulation Property North Carolina

Swiss Re CEO Highlights Climate Crisis as Major Factor in Rising Insurance Costs

Swiss Re CEO Highlights Climate Crisis as Major Factor in Rising Insurance Costs

The CEO of Swiss Re underscores the need for fair risk valuation amid rising insurance costs, pointing to climate change as a significant driver of recent price adjustments.
February 19, 2024 Catastrophe Insurance Industry Risk Management California Colorado Florida Idaho New Jersey
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