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Helene Hits Florida as Category 4 Hurricane, Unveils Critical Flood Insurance Gap

Helene Hits Florida as Category 4 Hurricane, Unveils Critical Flood Insurance Gap

Hurricane Helene's catastrophic flooding from Florida to North Carolina exposes the serious lack of flood insurance coverage among homeowners, especially in inland areas, highlighting the increasing risks from extreme weather events.
September 30, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Kentucky North Carolina South Carolina

Hurricane Helene’s Impact Pressures Florida’s Struggling Insurance Market

Hurricane Helene’s Impact Pressures Florida’s Struggling Insurance Market

Hurricane Helene's destructive force on Florida's properties highlights the fragility of the state's insurance market, with rising premiums, reinsurance challenges, and climate change amplifying risks.
September 30, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida

Navigating the Complexities of Alcohol and Marijuana in Life Insurance Claims

Navigating the Complexities of Alcohol and Marijuana in Life Insurance Claims

Alcohol and marijuana present unique challenges in life and AD&D claims. While alcohol regulations are uniform, marijuana's state-by-state legality and unpredictable effects complicate claim decisions and risk management.
September 30, 2024 Legislation & Regulation Liability Life & Health Risk Management

Hurricane Helene Set to Hit Florida Tonight with Life-Threatening Storm Surge and 40 Million Under Warnings

Hurricane Helene Set to Hit Florida Tonight with Life-Threatening Storm Surge and 40 Million Under Warnings

Hurricane Helene, a rapidly intensifying Category 2 storm, is expected to make landfall as a Category 4 hurricane in Florida, bringing 15-20 foot storm surges and affecting millions across the Gulf Coast.
September 26, 2024 Catastrophe Legislation & Regulation Property Risk Management Alabama Florida Georgia

Florida’s Insurance Market Faces Uncertainty as Hurricane Helene Approaches

Florida’s Insurance Market Faces Uncertainty as Hurricane Helene Approaches

As Hurricane Helene threatens Florida's Gulf Coast, concerns rise over the stability of the state's recovering insurance market. Despite progress, losses could still reach billions.
September 26, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida

California Wildfire Season Intensifies Without Key Factor, Raising Concerns for the Coming Months

California Wildfire Season Intensifies Without Key Factor, Raising Concerns for the Coming Months

California has faced a severe wildfire season fueled by heat and dried-out vegetation, even without the seasonal winds that typically escalate fire risks. Experts warn that conditions could worsen as fall progresses.
September 24, 2024 Catastrophe Legislation & Regulation Property Risk Management California

Actuarial Studies Tackle Bias, AI, and Modeling in Insurance Pricing

Actuarial Studies Tackle Bias, AI, and Modeling in Insurance Pricing

The Casualty Actuarial Society has released four new reports that explore bias in insurance pricing models, AI usage, and regulatory concerns, aiming to guide actuaries toward fairness and compliance.
September 24, 2024 Auto Legislation & Regulation Risk Management Technology

California Firefighter Arrested for Allegedly Starting Five Brush Fires in Northern California

California Firefighter Arrested for Allegedly Starting Five Brush Fires in Northern California

A firefighter in Northern California has been arrested for allegedly starting five brush fires while off duty, raising concerns about internal misconduct within fire agencies.
September 23, 2024 Catastrophe Legislation & Regulation Litigation Property California

New Jersey Supreme Court Expands Duty of Care for Sidewalks Next to Vacant Commercial Properties

New Jersey Supreme Court Expands Duty of Care for Sidewalks Next to Vacant Commercial Properties

The New Jersey Supreme Court ruled that commercial landowners, including those with vacant properties, must maintain public sidewalks abutting their properties in safe condition, aligning with broader public policy principles.
September 23, 2024 Legislation & Regulation Liability Litigation Property New Jersey

Workers’ Compensation Outpaces P&C Lines with Sustained Profitability and Low Claims Frequency

Workers’ Compensation Outpaces P&C Lines with Sustained Profitability and Low Claims Frequency

Workers' compensation continues to boost the property and casualty insurance industry with an 88.7 combined ratio in 2023, driven by reduced claims frequency, workplace safety, and competitive market conditions.
September 23, 2024 Insurance Industry Legislation & Regulation Risk Management Workers' Compensation

NFL Teams Losing Millions in Cap Space by Skipping Insurance on Star Quarterbacks

NFL Teams Losing Millions in Cap Space by Skipping Insurance on Star Quarterbacks

The Aaron Rodgers injury and Jets' decision to skip insurance on his contract highlight how NFL teams can lose significant cap space and insurance proceeds when failing to protect high-value players.
September 18, 2024 Insurance Industry Legislation & Regulation Litigation Risk Management California Florida New York Ohio Pennsylvania

Lawmakers Push for UI Fraud Prevention While Improving Equity and Access

Lawmakers Push for UI Fraud Prevention While Improving Equity and Access

In response to pandemic-era unemployment fraud, lawmakers propose solutions to improve fraud prevention and equity in UI systems, leveraging technology and data-sharing practices.
September 18, 2024 Fraud Insurance Industry Legislation & Regulation Technology Alabama Kentucky New Jersey Vermont

Cyber Attacks on U.S. Utilities Soar by 70 Percent, Experts Warn of Rising Threat

Cyber Attacks on U.S. Utilities Soar by 70 Percent, Experts Warn of Rising Threat

Cyber attacks on U.S. utilities have surged nearly 70 percent this year, exposing vulnerabilities in outdated software and expanding infrastructure. Experts warn a large-scale attack could cripple essential services.
September 13, 2024 Catastrophe Legislation & Regulation Risk Management Technology California

Florida Home Inspector Accused of Reusing Photos in 200+ Insurance Inspections, Costing $88,000

Florida Home Inspector Accused of Reusing Photos in 200+ Insurance Inspections, Costing $88,000

A Florida home inspector is accused of using identical stock photos in over 200 inspections, costing Citizens Property Insurance Corp. thousands in fraudulent premiums and reinspection costs.
September 13, 2024 Fraud Insurance Industry Legislation & Regulation Property Florida

Roof Damage Claims Surge Nationwide Amid Extreme Weather and Rising Costs

Roof Damage Claims Surge Nationwide Amid Extreme Weather and Rising Costs

The surge in roof damage claims, driven by extreme weather and rising repair costs, is creating significant challenges for insurers, with increased fraud and evolving policy terms adding to the crisis.
September 11, 2024 Fraud Legislation & Regulation Property Risk Management Alabama Arkansas Florida Illinois Minnesota
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