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Sea Level Rise by 2100 Could Displace Millions and Damage $1 Trillion in Property

Sea Level Rise by 2100 Could Displace Millions and Damage $1 Trillion in Property

A one-meter rise in sea levels by 2100 may expose over 14 million people and $1 trillion worth of property to flooding, erosion, and subsidence along the Southeast Atlantic coast.
November 22, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Virginia

West Coast Faces Extreme Weather: Bomb Cyclone and Atmospheric River Threaten Devastation

West Coast Faces Extreme Weather: Bomb Cyclone and Atmospheric River Threaten Devastation

A historic bomb cyclone brings hurricane-force winds and mass power outages to the Pacific Northwest, while a converging atmospheric river intensifies the threat with flooding rains.
November 20, 2024 Catastrophe Property Risk Management California Oregon Washington

Cargo Thefts Surge During Thanksgiving Holiday, Analysis Reveals

Cargo Thefts Surge During Thanksgiving Holiday, Analysis Reveals

CargoNet reports a surge in cargo thefts during Thanksgiving, with high-risk areas and targeted goods revealing sophisticated criminal networks exploiting supply chain vulnerabilities.
November 20, 2024 Fraud Property Risk Management California Illinois

Winners of the Global Innovation Awards 2024 Recognized for Industry-Shaping Contributions

Winners of the Global Innovation Awards 2024 Recognized for Industry-Shaping Contributions

The 2024 Global Innovation Awards celebrated the innovative strides of insurers and insurtechs in Property & Casualty, Life | Health | Retirement, and Predict & Prevent categories at the Global Insurance Forum in Miami.
November 20, 2024 Life & Health Property Risk Management Technology

Overcoming Common Challenges in Insurance Claims Processing

Overcoming Common Challenges in Insurance Claims Processing

Automation can streamline claims management by addressing fragmentation, enhancing security, and meeting rising customer expectations while improving efficiency and satisfaction.
November 20, 2024 Insurance Industry Property Risk Management Technology

P&C Insurance Embraces Advanced Technology to Tackle Weather and Cyber Risks

P&C Insurance Embraces Advanced Technology to Tackle Weather and Cyber Risks

Property and casualty insurers are adopting AI and aerial imagery to address climate challenges, cybersecurity concerns, and improve underwriting accuracy, according to a Nearmap report.
November 20, 2024 Catastrophe Property Risk Management Technology

Rising Roof Claims Challenge Insurers Amid Severe Weather and Roofing Scams

Rising Roof Claims Challenge Insurers Amid Severe Weather and Roofing Scams

Severe weather, inflation, and roofing scams are driving a surge in roof-related insurance claims, forcing the industry to adjust coverage and policy conditions to manage risks.
November 18, 2024 Catastrophe Fraud Insurance Industry Property Texas

Navigating Flood Insurance Challenges After Hurricanes Helene and Milton

Navigating Flood Insurance Challenges After Hurricanes Helene and Milton

Hurricanes Helene and Milton highlight significant issues in the U.S. flood insurance market, showcasing the gaps in coverage, private market growth, and lessons from Florida's response.
November 18, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida

Flood Insurance Gaps Highlighted by Hurricane Helene’s Impact

Flood Insurance Gaps Highlighted by Hurricane Helene’s Impact

The devastation caused by Hurricane Helene sheds light on the widespread lack of flood insurance, revealing critical challenges in accessibility, affordability, and risk awareness.
November 18, 2024 Legislation & Regulation Property Risk Management Florida Louisiana Texas

New Climate Research Reveals Worsening Global Conditions in 2024

New Climate Research Reveals Worsening Global Conditions in 2024

As COP29 unfolds in a year of record-high temperatures, new research reveals accelerating climate effects, from supercharged storms and wildfire deaths to a slowing Atlantic current, raising concerns about a range of tipping points.
November 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida North Carolina

Massachusetts Wildfires Spread as Drought and High Winds Intensify Risks

Massachusetts Wildfires Spread as Drought and High Winds Intensify Risks

Ongoing drought and high winds have sparked severe brush fires across Massachusetts, with over 1,500 acres already burned this season. Officials urge caution as red flag warnings remain in place.
November 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Maine Massachusetts New Hampshire

Rising Inland Flood Risk Demands Urgent Attention in U.S.

Rising Inland Flood Risk Demands Urgent Attention in U.S.

The Insurance Information Institute's latest report highlights the increasing flood risks faced by inland areas due to shifting weather patterns. Hurricanes, tropical storms, and thunderstorms are pushing the boundaries of flood-prone regions, underscoring the need for better insurance coverage, flood resilience, and mitigation strategies to bridge the protection gap in non-coastal communities.
November 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Kentucky New Jersey New York

New York Court Dismisses Homeowner’s Construction Defect Claim Over Missed Filing Deadline

New York Court Dismisses Homeowner’s Construction Defect Claim Over Missed Filing Deadline

A New York court dismissed a homeowner's breach of contract claim for delayed filing, ruling that the lawsuit, filed almost seven years after project completion, was beyond the six-year statute of limitations for construction defect claims. Pandemic-related deadline extensions could not save the case.
November 14, 2024 Legislation & Regulation Litigation Property Risk Management New York

Florida Hurricane Damage Claims Reach $4.775 Billion After Hurricanes Helene and Milton

Florida Hurricane Damage Claims Reach $4.775 Billion After Hurricanes Helene and Milton

Insurance claims in Florida from Hurricanes Helene and Milton have reached $4.775 billion, up $169 million from last week's total. The storms have left extensive residential and commercial property damage, according to the Office of Insurance Regulation.
November 12, 2024 Catastrophe Insurance Industry Legislation & Regulation Property Florida Georgia North Carolina South Carolina Tennessee

Insurers Accelerate AI Adoption, Face Compliance and System Modernization Hurdles

Insurers Accelerate AI Adoption, Face Compliance and System Modernization Hurdles

Earnix's 2024 Trends Report reveals insurers are increasingly adopting AI for real-time data analytics while confronting hurdles like legacy system upgrades, regulatory compliance, and operational delays. Insights highlight insurers' progress and gaps as they navigate technology-driven transformation.
November 11, 2024 Insurance Industry Property Technology
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