New Guide Explains How Legal System Abuse Raises Insurance Costs and Threatens Coverage Availability
A new consumer guide from Triple-I and Munich Re US reveals how legal system abuse inflates claim costs, drives premium increases, and limits insurance accessibility.
June 16
Insurance Industry
Liability
Litigation
Risk Management
States Move to Halt 23andMe Sale Over Privacy Concerns About Genetic Data
Twenty-seven states and D.C. filed suit to block the sale of genetic and medical data in 23andMe’s bankruptcy, citing lack of informed customer consent.
June 12
Legislation & Regulation
Life & Health
Risk Management
Technology
Utility and AI Apps Dominate as Distracted Driving Habits Shift in 2024
CMT’s 2024 report reveals a shift in distracted driving habits, with fewer drivers using phones but a surge in utility and AI app usage behind the wheel.
June 12
Auto
Insurance Industry
Risk Management
Technology
Massachusetts
Google Partners with National Hurricane Center for AI-powered Tropical Cyclone Forecasts
Google is working with the National Hurricane Center to evaluate a new AI model that could enhance tropical storm predictions up to 15 days in advance.
June 12
Catastrophe
Legislation & Regulation
Risk Management
Technology
Updated Hurricane Loss Model Approved by Florida Commission
Florida’s hurricane model commission approves Karen Clark & Co.’s Version 5.0, featuring enhanced climate data, upgraded vulnerability functions, and new coverage modeling capabilities.
June 12
Catastrophe
Property
Risk Management
Technology
Florida
Court Upholds Lloyd’s Denial in Diamond Loss Case Over Inactive Security System
A New York appellate court affirms Lloyd’s denial of coverage in a diamond loss claim, emphasizing that policyholders must maintain fully operational security systems.
June 12
Insurance Industry
Litigation
Property
Risk Management
New York
Cyberattack Disrupts Operations at Whole Foods Supplier United Natural Foods
United Natural Foods, a key supplier for Whole Foods, took systems offline after unauthorized network activity, causing temporary disruptions in order fulfillment and distribution.
June 10
Insurance Industry
Property
Risk Management
Technology
Rhode Island
AI Acceleration Signals Big Opportunities for Insurers as Adoption Surges
Mary Meeker’s new 340-page AI report reveals explosive growth, accelerating adoption, and decreasing costs—pointing to major advantages for insurers leveraging the technology.
June 10
Fraud
Insurance Industry
Risk Management
Technology
Million-Dollar Health Claims Spike as Employers Struggle with Soaring Costs
A 29% rise in million-dollar medical claims over the past year is squeezing self-funded employers, with cancer remaining the top cost driver, Sun Life’s data reveals.
June 10
Insurance Industry
Life & Health
Risk Management
Workers' Compensation
Scientists Chase Extreme Hailstorms Across the Plains to Uncover the Costliest Weather Threat
Researchers are diving into hailstorms across Texas, Oklahoma, and Kansas to better understand one of the U.S.’s costliest but most overlooked weather risks.
June 9
Catastrophe
Insurance Industry
Property
Risk Management
Colorado
Kansas
New Mexico
Oklahoma
Texas
How Georgia Can Tackle Rising Insurance Premiums and Loss Ratios
Georgia homeowners face surging premiums after back-to-back hurricanes. Lawmakers and insurers are exploring solutions to stabilize the market and protect consumers.
June 9
Catastrophe
Legislation & Regulation
Property
Risk Management
Alabama
Arkansas
Florida
Georgia
Louisiana
Chinese Cyberattacks and User Mistakes Spark Growing Mobile Security Emergency
U.S. investigators warn that Chinese cyberattacks and user carelessness are turning smartphones into national security risks, exposing sensitive data and infrastructure.
June 9
Insurance Industry
Legislation & Regulation
Risk Management
Technology
Illinois
Michigan
Lawsuit Against Nationwide Challenges Mass Pet Insurance Cancellations
Nationwide faces legal backlash after canceling 100,000 pet insurance policies, with allegations of broken promises and a growing debate over ethics and contract law.
June 9
Insurance Industry
Life & Health
Litigation
Risk Management
Severe Storms in US and Europe Trigger Massive Insured Losses
Severe storms across the US and Europe from late May to early June caused extensive hail, flood, and wind damage, with insured losses reaching into the billions.
June 9
Catastrophe
Insurance Industry
Property
Risk Management
Illinois
Iowa
Kansas
Missouri
Texas
Philadelphia Transit Lot Fire Destroys 40 Decommissioned Buses
A fire at a SEPTA bus lot in Philadelphia destroyed 40 decommissioned vehicles but caused no injuries or disruptions to commuter service, officials said.
June 9
Catastrophe
Insurance Industry
Property
Risk Management
Pennsylvania
