Rising Climate Risks Drive 13% of US Homebuyers to Consider Moving

Concerns about natural disasters and climate risks are influencing 13.7% of US homebuyers to relocate, with low-risk areas seeing faster home value growth for the first time since 2010.
November 22, 2024 Catastrophe Insurance Industry Property Risk Management California Florida Texas

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

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

AI Weather Models Prove Effective During Hurricane Season

AI-powered weather models, like Google DeepMind’s GraphCast, are transforming hurricane forecasting, demonstrating enhanced accuracy and speed compared to traditional physics-based methods.
November 20, 2024 Catastrophe Insurance Industry Risk Management Technology Louisiana Texas

Hurricane Wind Speeds Surge 18 MPH in Five Years, Study Reveals

A recent study attributes an 18 MPH rise in Atlantic hurricane wind speeds since 2019 to climate change, highlighting the impact of elevated sea surface temperatures.
November 20, 2024 Catastrophe Insurance Industry Risk Management

California Woman Receives $1 Million Settlement After Police K-9 Bite Leads to Scalp Injuries

A California city has settled a $967,000 excessive force claim after a police K-9 bit a woman’s scalp during her arrest, causing severe injuries and psychological trauma.
November 20, 2024 Insurance Industry Liability Litigation Risk Management California

Mississippi Restaurant Fined $1.5M for Seafood Mislabeling Scheme

A Gulf Coast restaurant and co-owner face penalties after years of selling mislabeled imported seafood as premium local fish, defrauding customers and the seafood industry.
November 20, 2024 Fraud Legislation & Regulation Liability Risk Management Mississippi

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

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

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

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

Transforming Claims with Technology: Predictive Analytics and Machine Learning

Predictive analytics and machine learning are reshaping insurance claims management by enhancing efficiency, detecting fraud, and improving customer satisfaction.
November 18, 2024 Fraud Insurance Industry Risk Management Technology

Michigan Workers’ Comp Reforms Could Reshape Benefits and Disability Rules

Proposed Michigan legislation seeks to redefine workers’ compensation laws by increasing benefit caps, revising the definition of disability, and eliminating distinctions between total and partial disabilities.
November 18, 2024 Insurance Industry Legislation & Regulation Risk Management Workers' Compensation Michigan

Jacksonville Insurance Employees Arrested for $1.14M Fraud Scheme

Two Jacksonville healthcare employees allegedly submitted over 40 false claims, defrauding their employer of $1.14 million from 2019 to 2023. Both face serious charges.
November 18, 2024 Fraud Insurance Industry Legislation & Regulation Risk Management Florida

Insurers Turn to AI Models to Tackle Rising Losses from Extreme Weather

A ZestyAI survey reveals growing confidence in AI risk models, with insurers emphasizing the importance of innovation in addressing climate-related challenges and profitability.
November 18, 2024 Catastrophe Insurance Industry Risk Management Technology
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