Resilience’s midyear 2024 report reveals ransomware as the leading cause of cyber losses, with a sharp increase in the severity of claims, largely driven by third-party risks and vendor failures.

The Carmack Amendment has long served as a legal foundation for freight claims in the U.S., but evolving logistics and e-commerce trends challenge its relevance, necessitating fresh strategies for claims professionals.

AI is transforming agricultural insurance by enhancing risk management, improving claims processing, and optimizing resource use, benefiting both insurers and growers in an increasingly volatile climate.

The growing use of AI, while beneficial, increases the risk of cyber event aggregation through expanded attack surfaces, data exposure, and software supply chain vulnerabilities, according to Guy Carpenter.

Leaders must adapt to the growing presence of Gen Z in the workforce by recognizing their unique values, such as work-life balance, career growth, and diversity, to attract and retain top talent.

As vertical integration rises in healthcare, workers’ compensation professionals must navigate increased medical management costs and explore data-driven strategies to ensure favorable claim outcomes.

Cyber insurance claims in the UK have dropped significantly between 2022 and 2024, as more businesses focus on their own recovery strategies, avoiding ransomware payments and boosting resilience.

A Clearwater cybersecurity firm unknowingly hired a North Korean hacker who used a stolen American identity and collaborated with a U.S.-based laptop farm to infiltrate the company, highlighting the risks associated with remote hiring practices.

The insurance industry is gearing up for significant employment growth in 2024, with over half of companies planning to expand their workforce despite ongoing recruitment challenges.

As the insurance industry evolves, the debate intensifies: will established traditional insurers maintain dominance, or will innovative, digital-first companies lead the future by meeting evolving customer expectations?

In Q2 2024, U.S. and Canadian collision claims for electric vehicles saw significant increases, despite a downturn in EV sales. Hybrid vehicles also experienced rising claims frequency, highlighting shifting market dynamics.

General Motors recalls certain 2023-2024 Cadillac Lyriq models due to a potential defect in the ABS, which may activate unexpectedly and lead to a loss of brake pressure, increasing the risk of accidents.

The SEC has charged NovaTech Ltd. and its principals with defrauding over 200,000 investors in a $650 million crypto scheme, targeting the Haitian-American community and relying on a multi-level marketing structure to solicit funds.

Integrating AI into workers’ compensation claims can free adjusters from routine tasks, allowing them to focus on empathy, creative problem-solving, and personalized support, ultimately benefiting both adjusters and injured workers.

The National Highway Traffic Safety Administration is gathering information on a fatal crash involving a Tesla Cybertruck in Texas but has not launched a formal investigation.