Lloyd’s Warns of Extreme Space Weather Risks With $2.4 Trillion Economic Impact Projection
A new Lloyd’s systemic risk scenario reveals that a hypothetical extreme solar storm could result in a global economic loss of $2.4 trillion over five years.
March 5, 2025
Insurance Industry
Property
Risk Management
Technology
Florida’s Insurance Market Faces Shake-Up as Lawmakers Tackle Rising Costs
With soaring premiums and industry instability, Florida lawmakers are pushing for reforms in home and auto insurance. Transparency, incentives, and technology may offer relief, but challenges remain.
March 5, 2025
Auto
Legislation & Regulation
Property
Technology
Florida
AI-Powered Fraud Is Reshaping Insurance—Are Insurers Keeping Up?
Artificial intelligence is revolutionizing fraud detection in insurance, but as fraudsters adopt AI-driven tactics, the industry faces an escalating arms race. Insurers that fail to invest in AI risk being outpaced by increasingly sophisticated fraud schemes.
March 3, 2025
Fraud
Insurance Industry
Litigation
Technology
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
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
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
How Quantum Computing Could Reshape Cyber Risk and Encryption Security
Quantum computing’s rapid advancements may challenge traditional encryption, creating new cybersecurity risks. Experts emphasize the need for proactive defenses and cyber insurance strategies.
February 18, 2025
Legislation & Regulation
Risk Management
Technology
How AI Transformed Insurance Claims Processing in 2024
The final installment of the 2024 Global InsurTech Report explores how artificial intelligence is transforming the insurance claims process, from first notice of loss to settlement, while tracking investment trends in the InsurTech sector.
February 18, 2025
Insurance Industry
Property
Risk Management
Technology
Two Fraudsters Admit to $577 Million Cryptocurrency Scam
Two Estonian men have pleaded guilty to running a $577 million cryptocurrency Ponzi scheme that defrauded hundreds of thousands worldwide. They now face up to 20 years in prison.
February 17, 2025
Fraud
Legislation & Regulation
Litigation
Technology
Washington
Tech-Powered Fraud Prevention in Insurance
AI, blockchain, and biometric verification are transforming fraud detection in insurance. These technologies enhance security, streamline claims processing, and prevent financial losses.
February 14, 2025
Fraud
Insurance Industry
Risk Management
Technology
How AI Is Transforming the Life Insurance Industry
Artificial intelligence is revolutionizing life insurance by enhancing efficiency, improving customer experiences, and reshaping risk management, while also introducing new challenges.
February 14, 2025
Insurance Industry
Life & Health
Risk Management
Technology
Strengthening Exposure Management to Address Hidden Insurance Risks
Overlooking excluded risks in exposure management can lead to financial strain for insurers. A proactive approach helps mitigate costs from non-indemnifiable claims.
February 14, 2025
Catastrophe
Litigation
Risk Management
Technology
California
North Carolina
How Loneliness Fuels the Rise of AI-Powered Romance Scams
Loneliness is becoming a significant societal issue, and fraudsters are taking full advantage of it. Romance scams—where criminals exploit social isolation to build fraudulent online relationships—are already costing victims billions.
February 13, 2025
Fraud
Legislation & Regulation
Risk Management
Technology
Insurers Must Adapt to Climate Change or Face Collapse
With climate disasters becoming more frequent and severe, insurers must shift from compensation to prevention, using technology and data to reduce risks before catastrophe strikes.
February 12, 2025
Catastrophe
Insurance Industry
Risk Management
Technology
California
