Insurance Industry Trends and Challenges Through 2040
A global survey of over 500 insurance executives reveals how AI, climate risks, cybersecurity, and evolving market dynamics are shaping the industry’s future through 2040.
March 3, 2025
Insurance Industry
Risk Management
Technology
How AI and IoT Are Transforming Risk Management
AI, IoT, and blockchain are revolutionizing risk management by enabling insurers to predict and prevent losses, reducing costs and improving safety through real-time data analysis.
February 26, 2025
Catastrophe
Insurance Industry
Risk Management
Technology
Maine Stands Out as Home Insurance Rates Hold Steady Amid National Spikes
While home insurance premiums rise across the U.S., Maine has maintained stability, experiencing a rate decrease in 2024. Geography and low disaster risk contribute to its resilience.
February 25, 2025
Insurance Industry
Legislation & Regulation
Property
Risk Management
Maine
Massachusetts
New Hampshire
Vermont
California Lawsuit Targets Apple Over PFAS in Watch Bands
Two California residents filed a class action lawsuit against Apple, alleging the company misrepresented the health risks of PFAS chemicals used in its Apple Watch bands.
February 25, 2025
Insurance Industry
Legislation & Regulation
Litigation
Risk Management
California
Woman Sentenced for Insurance Fraud After Claim Photos Found Online
Rhonda Keisha Powell of Upper Marlboro, Maryland, has been sentenced to 45 days in jail for felony insurance fraud after investigators discovered that photos she submitted with her claim were easily found on the internet.
February 25, 2025
Fraud
Insurance Industry
Litigation
Risk Management
Maryland
Tampa Contractor Sentenced to 4 Years, Ordered to Pay $55M for Fraud and Safety Violations
A Tampa-based contractor was sentenced to four years in prison and ordered to pay over $55 million in restitution for fraud, tax evasion, and workplace violations that led to an employee’s death.
February 24, 2025
Fraud
Litigation
Risk Management
Workers' Compensation
Florida
Hackers Pull Off Record-Breaking $1.5 Billion Crypto Heist Targeting Bybit
Bybit, a major cryptocurrency exchange, suffered the largest crypto heist in history as hackers stole $1.5 billion in digital assets. Analysts link the attack to North Korea’s Lazarus Group.
February 24, 2025
Fraud
Insurance Industry
Risk Management
Technology
Heavy Snowfall Causes Roof Collapses Across Central New York
Oswego County officials report at least 26 roof collapses following record snowfall, prompting emergency measures and rescue efforts as structural risks continue to rise.
February 24, 2025
Catastrophe
Insurance Industry
Property
Risk Management
New York
Maryland’s Crackdown on Workplace Fraud Uncovers Thousands of Misclassified Workers
Maryland’s Joint Enforcement Task Force on Workplace Fraud identified over 5,500 misclassified workers in 2024, recovering millions in lost wages and tax revenue while proposing stronger enforcement measures.
February 24, 2025
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
Maryland
Rising Insurance Costs and Severe Thunderstorms: How Convective Storms Are Reshaping Risk
Severe convective storms are a major driver of rising insurance costs, with hail, tornadoes, and strong winds causing billions in property damage. Understanding storm patterns can help insurers manage risk effectively.
February 24, 2025
Catastrophe
Insurance Industry
Property
Risk Management
Alabama
Florida
Georgia
Illinois
Indiana
Dallas Man Sentenced to Over 13 Years for $5M Insurance Fraud Scheme
A Texas man was sentenced to 157 months in federal prison for orchestrating a $4.4 million insurance fraud scheme that involved stolen client information and misdirected payments.
February 21, 2025
Fraud
Insurance Industry
Litigation
Risk Management
Texas
Tesla Recalls 380,000 Vehicles Over Power Steering Assist Failure
Tesla is recalling nearly 380,000 Model 3 and Model Y vehicles in the U.S. due to a power steering assist failure linked to older software, increasing the risk of a crash.
February 21, 2025
Auto
Litigation
Risk Management
Technology
Litigation Management Task Force Sets Clear Priorities for the Future
CLM’s Litigation Management Task Force is tackling industry-wide challenges, focusing on cost management, talent retention, and litigation guidelines to improve collaboration.
February 21, 2025
Insurance Industry
Litigation
Risk Management
Reconstruction Costs Skyrocket Over 60% in a Decade, but Growth Slows for 2025
Verisk’s latest report reveals that reconstruction costs are rising at a slower pace, approaching pre-pandemic levels. Residential and commercial costs are expected to grow modestly into mid-2025.
February 21, 2025
Insurance Industry
Legislation & Regulation
Property
Risk Management
Georgia Woman Sues Fertility Clinic Over Embryo Mix-Up That Led to Custody Battle
A Georgia woman claims a fertility clinic mistakenly implanted the wrong embryo, leading her to carry and give birth to another couple’s baby. She later had to surrender the child in an emotional legal battle.
February 21, 2025
Legislation & Regulation
Life & Health
Litigation
Risk Management
Georgia
South Carolina
