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The Changing Role of Source Code Escrows in Cloud-Driven Insurance IT

The Changing Role of Source Code Escrows in Cloud-Driven Insurance IT

As cloud computing reshapes IT operations, the traditional value of source code escrows is diminishing, prompting insurance CIOs to rethink business continuity and vendor risk strategies.
December 2, 2024 Insurance Industry Legislation & Regulation Risk Management Technology

Shoplifting Operation Stole $2M in Goods, Resold in New York and Abroad

Shoplifting Operation Stole $2M in Goods, Resold in New York and Abroad

A shoplifting ring that stole $2 million in high-end goods across several states was dismantled, with stolen items resold online and in the Dominican Republic. New laws are being enforced to tackle organized retail theft.
December 2, 2024 Fraud Legislation & Regulation Liability Risk Management New Jersey New York

AI Tool Creates Accurate Satellite Images Predicting Floods

AI Tool Creates Accurate Satellite Images Predicting Floods

MIT researchers combine generative AI and physics models to create realistic satellite images of future floods, enhancing readiness and emergency planning.
December 2, 2024 Catastrophe Insurance Industry Risk Management Technology Texas

Record-Breaking 2024 Hurricane Season Ends with $50 Billion in Insured Losses

Record-Breaking 2024 Hurricane Season Ends with $50 Billion in Insured Losses

The 2024 Atlantic hurricane season, ending with 18 named storms, saw record-breaking storms, including Hurricane Milton, which inflicted billions in insured losses across the U.S.
December 2, 2024 Catastrophe Insurance Industry Property Risk Management Florida Georgia Louisiana North Carolina South Carolina

Essential Tips for Safely Deep Frying a Turkey This Thanksgiving

Essential Tips for Safely Deep Frying a Turkey This Thanksgiving

Deep frying a turkey can result in a delicious holiday centerpiece, but it’s essential to follow safety precautions to avoid injuries or fires. Here’s how to fry safely.
November 26, 2024 Catastrophe Property Risk Management

Ransomware Attack Forces Starbucks to Manually Track Employee Hours

Ransomware Attack Forces Starbucks to Manually Track Employee Hours

A ransomware attack on Blue Yonder, a software provider for scheduling and supply chain management, disrupted Starbucks’ systems, forcing manual payroll and scheduling for workers in North America.
November 26, 2024 Insurance Industry Risk Management Technology Workers' Compensation Arizona

Ohio Resident Sentenced to Five Years for $229K Insurance Fraud

Ohio Resident Sentenced to Five Years for $229K Insurance Fraud

An Ohio man has been sentenced for orchestrating a $229,000 insurance fraud scheme involving multiple companies and falsified claims, including property theft and fake medical expenses.
November 26, 2024 Fraud Insurance Industry Litigation Risk Management New York Ohio

Top Insurance Risk Concerns Revealed in RiskScan 2024 Report

Top Insurance Risk Concerns Revealed in RiskScan 2024 Report

RiskScan 2024 highlights how cyber incidents, climate change, and economic inflation dominate risk concerns across insurers, businesses, and consumers, revealing critical gaps in awareness.
November 26, 2024 Education & Training Property Risk Management Technology

Thanksgiving Travel Expected to Break Records, Says AAA

Thanksgiving Travel Expected to Break Records, Says AAA

Thanksgiving travel this year is expected to surpass pre-pandemic levels, with nearly 80 million Americans traveling by car, air, and other modes, setting new records across the board.
November 22, 2024 Auto Insurance Industry Risk Management California Florida Hawaii New York Washington

Pennsylvania Jury Orders Sig Sauer to Pay $11M in Pistol Defect Lawsuit

Pennsylvania Jury Orders Sig Sauer to Pay $11M in Pistol Defect Lawsuit

A Pennsylvania jury awarded $11 million to a veteran injured by a Sig Sauer P320 pistol that allegedly fired without the trigger being pulled, citing design flaws and negligence.
November 22, 2024 Legislation & Regulation Liability Litigation Risk Management Georgia New Hampshire Pennsylvania

AI-Based Tenant Screening Settlement Highlights Alleged Algorithmic Bias

AI-Based Tenant Screening Settlement Highlights Alleged Algorithmic Bias

A class action lawsuit against SafeRent Solutions over alleged discriminatory algorithms concludes with a $2.2 million settlement and restrictions on AI screening practices.
November 22, 2024 Legislation & Regulation Litigation Risk Management Technology Massachusetts

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

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

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

AI Weather Models Prove Effective During Hurricane Season

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
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