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Niches: The Future of the Insurance Market?

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

Disney’s 1.1 TB Slack Data Breach Exposed by Hackers

Disney’s 1.1 TB Slack Data Breach Exposed by Hackers

Hackers claim to have stolen and leaked over a terabyte of Disney’s internal Slack messages and files.
July 19, 2024 Fraud Insurance Industry Litigation Technology

Rite Aid Data Breach Impacts 2.2 Million Customers

Rite Aid Data Breach Impacts 2.2 Million Customers

Rite Aid, the third-largest US drug store chain, revealed that a data breach exposed sensitive information of over 2.2 million customers, including names, addresses, birth dates, and driver’s license numbers.
July 16, 2024 Insurance Industry Litigation Risk Management Technology Maine Massachusetts Oregon Vermont

Investment in GenAI Pressures Other IT Projects

Investment in GenAI Pressures Other IT Projects

Generative AI investments are surging, squeezing other IT projects as companies aim for higher ROI and digital transformation.
July 16, 2024 Insurance Industry Risk Management Technology

Rising Replacement Costs Demand Strategic Adjustments from Insurers

Rising Replacement Costs Demand Strategic Adjustments from Insurers

As inflation and global conflicts escalate replacement costs, brokers and underwriters must effectively communicate economic trends and risk factors to clients to ensure adequate coverage and transparent pricing.
July 16, 2024 Insurance Industry Property Risk Management Maryland

Moody’s RMS Estimates $2.5-$4.5 Billion in U.S. Insured Losses from Hurricane Beryl

Moody’s RMS Estimates $2.5-$4.5 Billion in U.S. Insured Losses from Hurricane Beryl

Moody’s RMS estimates U.S. insured losses from Hurricane Beryl between $2.5 and $4.5 billion, with NFIP losses under $300 million and non-U.S. losses not exceeding $1.5 billion.
July 16, 2024 Catastrophe Insurance Industry Property Risk Management Texas

Understanding 2024 Insurance Industry Priorities: AI, Climate Change, and Inflation Lead the Way

Understanding 2024 Insurance Industry Priorities: AI, Climate Change, and Inflation Lead the Way

The 2024 Global Priorities Report from the IIS highlights key concerns for insurance executives, including artificial intelligence, climate change, inflation, and cybersecurity, along with strategies for operational efficiency and growth opportunities.
July 16, 2024 Insurance Industry Risk Management Technology

Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous

Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous

While often dismissed, Category 1 hurricanes and tropical storms can cause significant damage and fatalities, emphasizing the need for a comprehensive understanding of storm impacts beyond mere wind strength.
July 15, 2024 Catastrophe Insurance Industry Risk Management Technology Florida Louisiana New York Texas

Oregon Man Arrested for Threatening Insurance Adjusters with Spear

Oregon Man Arrested for Threatening Insurance Adjusters with Spear

Police arrested a suspect after he threatened insurance adjusters with an improvised spear at a Bend fitness center, leading to temporary street closure.
July 15, 2024 Insurance Industry Liability Litigation Property Oregon

Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas

Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas

Hurricane Beryl is estimated to have caused $3.3 billion in insured losses, with $2.7 billion in the U.S., $510 million in the Caribbean, and $90 million in Mexico.
July 11, 2024 Catastrophe Insurance Industry Property Technology Texas

Atlantic Hurricane Season Outlook Predicts More Storms

Atlantic Hurricane Season Outlook Predicts More Storms

Colorado State University has revised its forecast for the 2024 Atlantic hurricane season, predicting an even busier season with 25 named storms and 12 hurricanes.
July 9, 2024 Catastrophe Insurance Industry Legislation & Regulation Risk Management

Insurers Gained $50 Billion From Medicare for Untreated Diseases

Insurers Gained $50 Billion From Medicare for Untreated Diseases

Medicare Advantage insurers received $50 billion from questionable diagnoses, including diseases like diabetic cataracts and HIV, for conditions that were not treated or didn’t exist.
July 8, 2024 Fraud Insurance Industry Legislation & Regulation Technology Alabama Arizona Florida Georgia Massachusetts

Court Rules Tenant Can’t Claim Total Loss for Pre-Fire Improvements

Court Rules Tenant Can’t Claim Total Loss for Pre-Fire Improvements

A Minnesota court ruled that a cellphone repair business is not entitled to total-loss coverage for $445,000 in tenant improvements made before a fire destroyed their leased space in a commercial building.
July 8, 2024 Insurance Industry Litigation Property Risk Management Minnesota

Marion County Record Reporter Settles Lawsuit Over Politically Charged Police Raid

Marion County Record Reporter Settles Lawsuit Over Politically Charged Police Raid

A former Marion County Record reporter has settled a federal lawsuit for $235,000 against the head of a Kansas police department following a politically motivated raid on the newspaper’s offices.
July 8, 2024 Insurance Industry Legislation & Regulation Litigation Kansas

Man Arrested for Roofing Scam Causing Nearly $20k in Damage

Man Arrested for Roofing Scam Causing Nearly $20k in Damage

A Pennsylvania solicitor was arrested for an insurance fraud scheme that caused nearly $20k in roof damage to a homeowner’s property in 2023.
July 8, 2024 Fraud Insurance Industry Litigation Property Pennsylvania
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