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Crisis Unfolds in Minnesota’s Long-Term Care Insurance Industry

Crisis Unfolds in Minnesota’s Long-Term Care Insurance Industry

Minnesota’s long-term care insurance industry faces a crisis with soaring premiums, denied benefits, and delayed payments as more senior citizens begin to tap into their insurance benefits.
June 10, 2024 Insurance Industry Legislation & Regulation Life & Health Risk Management Minnesota

Bull Jumps Fence at Oregon Rodeo, Injuring Three

Bull Jumps Fence at Oregon Rodeo, Injuring Three

A bull escaped its enclosure at the Sisters Rodeo, injuring three people, including a Deschutes County sergeant, before being recaptured by rodeo professionals.
June 10, 2024 Catastrophe Insurance Industry Liability Risk Management Oregon

USPS National Dog Bite Awareness Campaign Highlights Rising Incidents

USPS National Dog Bite Awareness Campaign Highlights Rising Incidents

The USPS concluded its 2024 National Dog Bite Awareness Campaign amid a rise in dog attacks on postal workers, emphasizing safe mail delivery and responsible pet ownership.
June 10, 2024 Education & Training Insurance Industry Risk Management Weird California Florida Illinois Michigan Missouri

Massachusetts Psychiatrist Sentenced to Prison for $19 Million Insurance Fraud Scheme

Massachusetts Psychiatrist Sentenced to Prison for $19 Million Insurance Fraud Scheme

Gustavo Kinrys, a psychiatrist from Wellesley, Massachusetts, sentenced to 99 months in prison for a $19 million insurance fraud scheme used to finance luxury homes and purchase over $600,000 in high-end jewelry.
June 10, 2024 Fraud Insurance Industry Life & Health Litigation Massachusetts

U.S. Auto Insurance Rebounds in 2024, Homeowners’ Sector Faces Continued Challenges

U.S. Auto Insurance Rebounds in 2024, Homeowners’ Sector Faces Continued Challenges

The U.S. personal insurance sector is set for improved performance in 2024, with the auto segment showing signs of recovery while homeowners’ insurance continues to grapple with volatility from natural catastrophes and rising costs.
June 10, 2024 Auto Insurance Industry Property Risk Management

Emerging Insurance Market: Psychedelics Industry Presents New Opportunities

Emerging Insurance Market: Psychedelics Industry Presents New Opportunities

As the field of alternative therapeutics advances, the burgeoning psychedelics industry is becoming a lucrative market for insurance, offering significant opportunities for brokers and insurers.
June 10, 2024 Insurance Industry Life & Health Risk Management Technology

Snowflake Data Breaches on the Rise: Major Companies Among Victims

Snowflake Data Breaches on the Rise: Major Companies Among Victims

Recent data breaches involving Snowflake-hosted cloud databases have impacted several major companies, with attackers leveraging compromised credentials to access customer accounts.
June 10, 2024 Insurance Industry Risk Management Technology

Increasing TPLF and Securities Class Actions Heighten Insurer Risks

Increasing TPLF and Securities Class Actions Heighten Insurer Risks

Rising settlements and third-party litigation funding (TPLF) trends drive higher risks and costs for insurers, impacting policyholders and consumer prices.
June 10, 2024 Fraud Insurance Industry Litigation Risk Management

North Carolina Insurance Agent Faces 74 Felony Charges for Identity Theft and Forgery

North Carolina Insurance Agent Faces 74 Felony Charges for Identity Theft and Forgery

A licensed insurance agent from Nash County has been charged with 74 felony counts, including identity theft and forgery, after allegedly forging life insurance applications to obtain funds illegally.
June 7, 2024 Fraud Insurance Industry Life & Health Litigation North Carolina

EV Collision Insights Report: Q1 2024

EV Collision Insights Report: Q1 2024

Q1 2024 sees a significant rise in EV repairable claims and total loss frequency in the US and Canada, highlighting trends in EV repair costs and adoption.
June 7, 2024 Auto Insurance Industry Risk Management Technology California

Rhode Island Bans Higher Auto Insurance Rates for Widows and Widowers

Rhode Island Bans Higher Auto Insurance Rates for Widows and Widowers

Rhode Island’s new law, effective January 2025, prevents auto insurers from charging widows and widowers higher rates, treating them the same as married policyholders.
June 6, 2024 Auto Insurance Industry Legislation & Regulation Liability Delaware Pennsylvania Rhode Island

Insurtechs and Traditional Insurers Experience Strong Q1 Growth

Insurtechs and Traditional Insurers Experience Strong Q1 Growth

In Q1 2024, the P&C insurance industry saw impressive stock performance, with notable gains among insurtechs demonstrating high-quality growth.
June 6, 2024 Insurance Industry Risk Management Technology Underwriting

Insights from Allianz Atlantic Hurricane Forecast

Insights from Allianz Atlantic Hurricane Forecast

The 2024 Atlantic hurricane season, starting June 1 and ending November 30, is predicted to be particularly active. Allianz Commercial offers insights into this year’s forecast, reviewing notable 2023 storms and providing expert advice on storm preparedness.
June 6, 2024 Catastrophe Insurance Industry Property Risk Management Florida Georgia North Carolina South Carolina

Rising Cyber Threats: Insights from the 2024 Ransomware Trends Report

Rising Cyber Threats: Insights from the 2024 Ransomware Trends Report

The 2024 Ransomware Trends Report reveals increasing cyber threats, with a focus on data protection, recovery strategies, and the collaboration between IT and security teams.
June 5, 2024 Insurance Industry Risk Management Technology

Iowa Residents Face Big Bills and Mortgage Risks Due to Reduced Roof Coverage

Iowa Residents Face Big Bills and Mortgage Risks Due to Reduced Roof Coverage

Iowa’s major insurance companies have reduced roof coverage, resulting in substantial out-of-pocket costs for homeowners and jeopardizing mortgages. The changes follow increased claims from frequent hail and wind storms.
June 5, 2024 Insurance Industry Legislation & Regulation Property Risk Management Iowa
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