New York Unveils Plan to Fix Taxi and Rideshare Insurance Crisis
New York Governor Kathy Hochul has proposed reforms to stabilize the city’s troubled taxi and rideshare insurance market after the collapse of its largest provider, American Transit Insurance Co.
January 24, 2025
Auto
Fraud
Legislation & Regulation
Risk Management
New York
Cannabis Grower’s $1.3M Business Income Claim Denied After Fire Damages Crops
A federal court ruled that a cannabis grower’s business income loss was not covered by its insurance policy after a fire damaged crops but did not halt overall operations.
January 24, 2025
Insurance Industry
Litigation
Property
Risk Management
Connecticut
Contractor Faces OSHA Penalties After Worker Falls from Boston Theater Scaffold
A federal investigation found safety violations by NER Construction Management led to a worker’s fatal fall at the Cutler Majestic Theater in Boston. OSHA has proposed $115,221 in fines.
January 24, 2025
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
Massachusetts
How Geoeconomic Fragmentation is Reshaping the Insurance Landscape
Discover insights from the Geneva Association’s 2025 report on geoeconomic fragmentation, exploring how global divides are transforming risks, opportunities, and strategies for the insurance industry.
January 24, 2025
Insurance Industry
Liability
Risk Management
Technology
California Wildfires Drive Record Insurance Losses and Policy Changes
Moody’s projects $30 billion in insured property losses from Los Angeles County wildfires, highlighting the challenges of insuring high-risk areas and the strain on California’s FAIR plan.
January 24, 2025
Catastrophe
Legislation & Regulation
Property
Risk Management
California
New York Woman Charged with $130,000 Welfare Fraud and Insurance Scheme
A New York resident allegedly defrauded Medicaid, childcare assistance programs, and her car insurance provider by misrepresenting income and residency over several years.
January 24, 2025
Fraud
Insurance Industry
Legislation & Regulation
Risk Management
New Jersey
New York
Historic Snowstorm Brings Chaos to US South With Record-Breaking Cold and Snowfall
A rare snowstorm dumped record amounts of snow across the US South, causing travel chaos, frozen pipes, and widespread disruptions in states unprepared for such severe winter weather.
January 24, 2025
Catastrophe
Property
Risk Management
Technology
Arkansas
Florida
Georgia
Louisiana
Oklahoma
Leveling the Playing Field with AI: Tools to Address Algorithmic Bias
Learn how to detect and mitigate bias in AI systems with practical tools and strategies, emphasizing fairness in decision-making for insurance fraud detection and beyond.
January 23, 2025
Education & Training
Fraud
Risk Management
Technology
Health Insurance Fraud Case Resolved by Austin-Based Small Group Business
An Austin-based small group health insurer settles allegations of fraudulent billing practices, emphasizing the need for transparency and ethical standards in health insurance claims.
January 23, 2025
Fraud
Legislation & Regulation
Life & Health
Risk Management
Alabama
Arizona
Arkansas
Florida
Louisiana
Court Rules Sky Betting Violated Data Laws to Target Problem Gambler
A UK court found that Sky Betting and Gaming illegally profiled a gambling addict for marketing purposes, sparking further scrutiny of data practices in the gambling industry.
January 23, 2025
Legislation & Regulation
Litigation
Risk Management
Technology
Cargo Theft Hits Unprecedented Highs in 2024, with $202K Average Loss Per Incident
Cargo theft incidents surged 27% in 2024, reaching 3,625 reported cases in the U.S. and Canada. California and Texas were hit hardest, with criminals shifting to high-value targets like electronics and copper.
January 23, 2025
Fraud
Property
Risk Management
Technology
California
Georgia
New York
Texas
Record Catastrophe Bond Issuance of $17.7 Billion in 2024
Catastrophe bonds and related insurance-linked securities surged to a record $17.7 billion in issuance during 2024, driven by a robust first half and strong year-end performance.
January 21, 2025
Catastrophe
Property
Risk Management
Technology
California
Florida
Louisiana
Massachusetts
Texas
FEMA Partners with 27 Reinsurers to Transfer $758M in Flood Insurance Risk
FEMA has expanded its flood insurance reinsurance program for 2025, transferring $758 million in risk to 27 private reinsurers and covering portions of losses from catastrophic flood events.
January 21, 2025
Catastrophe
Insurance Industry
Property
Risk Management
Consumers Weigh in on AI Use in Severe Weather Insurance
A new report reveals mixed consumer opinions on insurers using AI for severe weather predictions, highlighting the need for transparency and education to build trust in these tools.
January 21, 2025
Insurance Industry
Property
Risk Management
Technology
Connecticut
Efforts Intensify to Combat Fraud Targeting Wildfire Survivors in Southern California
California authorities, including Insurance Commissioner Ricardo Lara, are addressing rising fraud cases after wildfires, deploying resources to protect survivors and prosecute scammers.
January 21, 2025
Catastrophe
Fraud
Litigation
Risk Management
California
