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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

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

Florida Intensifies Efforts Against Retail Theft Amid Stable National Shoplifting Rates

Florida Intensifies Efforts Against Retail Theft Amid Stable National Shoplifting Rates

Amid reports of no significant national increase in shoplifting, Florida Governor Ron DeSantis announces a legislative crackdown on retail theft and porch piracy.
February 16, 2024 Legislation & Regulation Florida

Massive Cheese Product Recall Expands Over Listeria Concerns

Massive Cheese Product Recall Expands Over Listeria Concerns

The FDA lists 57 products in a growing recall over listeria contamination fears, with an investigation focusing on queso fresco and cotija cheeses.
February 14, 2024 Liability Life & Health Alabama Arizona California Colorado Florida

NBA Faces Legal Battle Over Cryptocurrency Marketing Ties with Voyager Digital

NBA Faces Legal Battle Over Cryptocurrency Marketing Ties with Voyager Digital

Investors claim the NBA's marketing links with Voyager Digital led to significant losses, spotlighting the legal risks of endorsing cryptocurrency firms.
February 8, 2024 Fraud Litigation Florida

Jacksonville Jaguars Seek Reimbursement from FanDuel for Stolen Funds

Jacksonville Jaguars Seek Reimbursement from FanDuel for Stolen Funds

The Jacksonville Jaguars are in talks with FanDuel for the recovery of $20 million, misappropriated by a former employee for online betting.
February 6, 2024 Fraud Legislation & Regulation Florida

Florida Senate Moves to Allow Surplus Lines Insurers to Cover Second Homes

Florida Senate Moves to Allow Surplus Lines Insurers to Cover Second Homes

A key Florida Senate bill aims to shift secondary home insurance from Citizens to surplus lines carriers, stirring mixed reactions among industry professionals.
February 6, 2024 Excess & Surplus Lines Legislation & Regulation Property Florida

Florida Bar Greenlights AI Use with Ethical Guardrails for Legal Practice

Florida Bar Greenlights AI Use with Ethical Guardrails for Legal Practice

In a pioneering move, the Florida Bar approves AI for legal use, setting ethical standards to guide lawyers in harnessing AI technology responsibly.
February 2, 2024 Legislation & Regulation Technology California Florida Illinois Kentucky Minnesota

Navigating the New Terrain: How States are Reforming Tort Laws Amid Rising Litigation Challenges

Navigating the New Terrain: How States are Reforming Tort Laws Amid Rising Litigation Challenges

In response to the surge in litigation costs and nuclear verdicts, various states have enacted significant tort reforms to balance corporate accountability and economic growth.
February 1, 2024 Insurance Industry Legislation & Regulation Litigation Florida Georgia Indiana Iowa Kansas

Six New Insurance Companies Set to Transform Florida’s Homeowner Insurance Landscape

Six New Insurance Companies Set to Transform Florida’s Homeowner Insurance Landscape

The entry of six new insurance companies into Florida's market, following state regulatory approval, promises more options and competition for homeowners seeking coverage.
January 31, 2024 Insurance Industry Legislation & Regulation Property Florida

Miami Construction Suppliers Charged in Major Workers’ Compensation Fraud Case

Miami Construction Suppliers Charged in Major Workers’ Compensation Fraud Case

Miami-area labor suppliers face charges for underreporting payroll and cheating insurers out of over $220,000 in workers' compensation premiums.
January 30, 2024 Fraud Insurance Industry Litigation Workers' Compensation Florida

Citizens Insurance to Transfer Thousands of Policies to Private Insurers in 2024

Citizens Insurance to Transfer Thousands of Policies to Private Insurers in 2024

Citizens, Florida's insurer of last resort, plans to transfer approximately 76,000 policies to private insurers this month, as part of its broader strategy to reduce policy count and address solvency concerns.
January 29, 2024 Insurance Industry Legislation & Regulation Property Florida

Florida’s Home Insurance Crisis Threatens Real Estate Market Stability

Florida’s Home Insurance Crisis Threatens Real Estate Market Stability

Florida faces a potential real estate downturn as home insurance premiums skyrocket, making mortgages increasingly difficult to obtain.
January 24, 2024 Catastrophe Legislation & Regulation Property Florida

Florida Plans to Issue Bonds to Support Hurricane Losses Fund

Florida Plans to Issue Bonds to Support Hurricane Losses Fund

Florida aims to bolster its hurricane catastrophe fund by borrowing up to $3.8 billion through municipal bonds to support property insurers against hurricane losses.
January 23, 2024 Catastrophe Insurance Industry Legislation & Regulation Property Florida

Florida Appeals Court Upholds $2.7 Million Tax Ruling Against State Farm

Florida Appeals Court Upholds $2.7 Million Tax Ruling Against State Farm

State Farm's appeal fails as Florida court affirms the insurer's obligation to pay $2.7 million in corporate taxes, interpreting state and local bond interest inclusions.
January 18, 2024 Insurance Industry Legislation & Regulation Litigation Florida
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