New Cybersecurity Requirements Now in Effect for New York General Hospitals

New York general hospitals must now comply with cybersecurity regulations aimed at protecting patient data, requiring risk assessments, staff training, and incident reporting within 72 hours of a breach.
October 21, 2024 Legislation & Regulation Life & Health Risk Management Technology New York

AI in Advertising Raises Liability Concerns as Generative Technology Expands

As AI’s influence in advertising grows, both large and small businesses face new liability risks, especially in relation to Commercial General Liability policies. Insurers must prepare for emerging challenges, including chatbot misuse and privacy breaches.
October 17, 2024 Legislation & Regulation Liability Risk Management Technology California

Hurricane Forecasts Face Backlash as Meteorologists Battle Misinformation and Threats

Despite the increasing accuracy of hurricane forecasts, meteorologists are facing growing threats, conspiracy theories, and public distrust fueled by misinformation on social media.
October 17, 2024 Catastrophe Risk Management Technology Alabama Florida Iowa North Carolina

How AI and Cloud Technology Drive Agile Claims Transformation

AI, cloud computing, and data-driven platforms offer insurers an agile way to modernize claims processes, enabling incremental improvements while enhancing customer experience and reducing costs.
October 15, 2024 Insurance Industry Risk Management Technology

Hurricane Milton’s Impact on Florida Buildings Matches or Exceeds Hurricane Helene’s

ICEYE’s initial data suggests that Hurricane Milton has caused damage to as many as, or more than, 150,000 buildings in Florida, a count that rivals Hurricane Helene’s impact. Early loss estimates range from $15 billion to $40 billion.
October 14, 2024 Catastrophe Insurance Industry Property Technology Florida

AI’s Role in Solving the Underwriting Talent Shortage

With the insurance industry facing a major talent gap, AI and generative AI can enhance underwriting efficiency by mimicking the expertise of top professionals, leading to better policies and profitability.
October 14, 2024 Insurance Industry Risk Management Technology Underwriting

Innovation Driving the Future of Technology, Media, and Telecom

Technology, media, and telecom companies face both opportunities and challenges as they navigate innovations in AI, 5G, and cybersecurity, while grappling with regulatory and geopolitical risks, a WTW survey finds.
October 14, 2024 Litigation Risk Management Technology

How Generative AI Is Transforming the Insurance Industry

Generative AI has the potential to revolutionize the insurance industry by streamlining operations, enhancing customer service, and improving risk management. However, insurers must address ethical, regulatory, and data challenges to fully unlock its benefits.
October 11, 2024 Fraud Insurance Industry Risk Management Technology Colorado

Citi Field Faces Class Action Over Alleged Illegal Use of Facial Recognition Technology

A proposed class action accuses Sterling Mets, L.P., the company behind Citi Field, of illegally collecting and sharing visitors’ biometric data using facial recognition technology, violating New York City’s biometrics law.
October 11, 2024 Legislation & Regulation Liability Litigation Technology New York

Cyber Claims in 2024 Surge with Ransomware and AI as Key Drivers

Ransomware severity spiked, driving a 14% increase in claims, while AI contributed to rising business email compromise cases in the first half of 2024.
October 11, 2024 Fraud Property Technology

Cyberattack on American Water Highlights Urgency of Infrastructure Security

A cyberattack on American Water, the largest U.S. regulated water utility, has paused billing services and renewed concerns over the security of critical infrastructure.
October 11, 2024 Legislation & Regulation Property Risk Management Technology New Jersey

Outdoor Work Faces New Dangers from Rising Heat and Air Pollution

As heatwaves and air pollution intensify, employers must adopt protective measures to ensure the health and safety of outdoor workers, reducing accidents and costly business interruptions.
October 11, 2024 Property Risk Management Technology Workers' Compensation

Waffle House Index Signals Severe Impact from Hurricane Milton in Florida

The Waffle House Index, a quirky yet reliable gauge of storm severity, shows widespread closures across Florida as Hurricane Milton approaches, warning of significant damage and disruption.
October 9, 2024 Catastrophe Property Risk Management Technology Florida Georgia North Carolina South Carolina

Florida Urges EV Owners to Prepare for Fire Hazards as Hurricane Milton Approaches

Florida officials are cautioning residents about the potential fire hazards posed by lithium-ion batteries in EVs and other devices, urging proactive steps to prevent accidents as Hurricane Milton approaches.
October 9, 2024 Auto Catastrophe Property Risk Management Technology Florida

Limp Bizkit Sues Universal Music for $200 Million Over Alleged Unpaid Royalties

Fred Durst and Limp Bizkit have filed a lawsuit against Universal Music, seeking $200 million in unpaid royalties and the return of their copyrights, alleging the label systematically withheld payments owed to the band.
October 9, 2024 Insurance Industry Liability Litigation Technology California
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