CrowdStrike Faces Federal Securities Class Action from Investors
The Plymouth County Retirement Association has filed a class action lawsuit against CrowdStrike in Texas, claiming the cybersecurity firm’s software outage caused significant global disruptions and financial losses.
August 1, 2024
Litigation
Risk Management
Technology
Texas
Amazon Held Accountable for Hazardous Products Sold by Third-Party Sellers on Amazon.com
The U.S. Consumer Product Safety Commission has ruled that Amazon is responsible for recalling over 400,000 defective products sold by third-party sellers on its platform, including faulty CO detectors, unsafe hairdryers, and children’s sleepwear that fail flammability standards.
July 30, 2024
Legislation & Regulation
Liability
Technology
District Of Columbia
Simplifying Insurance with IoT: A Streamlined Future
IoT technology is poised to simplify insurance by enhancing data integration, improving risk analysis, and overcoming workforce challenges, ultimately protecting people and businesses more effectively.
July 30, 2024
Auto
Insurance Industry
Risk Management
Technology
Massive Scam Exploits Proofpoint’s Email Flaw, Sends Millions of Spoofed Messages
An unknown threat actor exploited an email misconfiguration in Proofpoint’s system, sending millions of spoofed emails from reputable companies like Best Buy and IBM, highlighting vulnerabilities in email security infrastructure.
July 29, 2024
Fraud
Risk Management
Technology
Adjuster Cautionary Tale: Courtroom Embarrassment Over Chat Message
A recent post on Reddit’s adjusters subreddit shared a cautionary tale about the risks of casual, off-the-cuff remarks in professional communications. In this instance, a fire claim involving a homeowner’s pet parrot escalated to the courtroom, where an unfortunate message by an adjuster was read aloud, much to his embarrassment.
July 29, 2024
Litigation
Property
Risk Management
Technology
Take-Two Interactive Identifies Negative Review Campaigns as Major Risk
Take-Two Interactive’s SEC filing highlights various risks including negative review campaigns, which could result in loss of players, revenue, and increased marketing costs.
July 29, 2024
Insurance Industry
Litigation
Risk Management
Technology
How Insurance Agencies Are Using AI to Transform Their Operations
Leading insurance agencies are leveraging AI for communication, policy analysis, document comparison, and predictive analytics to enhance efficiency, accuracy, and customer satisfaction.
July 29, 2024
Education & Training
Insurance Industry
Risk Management
Technology
Evolving Responsibilities for Public Company Directors and Officers
Directors and Officers of public companies face new challenges with SEC disclosure rules on cybersecurity and climate-related risks, increasing their potential exposure.
July 26, 2024
Legislation & Regulation
Liability
Litigation
Technology
California
HeatRisk Tool Faces Real-World Challenges Amidst Rising US Temperatures
The HeatRisk forecasting tool, launched by the CDC and NOAA, is undergoing real-world testing as extreme temperatures stress many parts of the US, providing localized heat warnings to protect vulnerable populations.
July 25, 2024
Legislation & Regulation
Life & Health
Risk Management
Technology
Arizona
California
Florida
Washington
CrowdStrike IT Outage Could Lead to Billions in Insured Losses, Minimal Impact on Insurers
The CrowdStrike IT outage on July 19, affecting numerous industries, could result in billions of dollars in insured losses but is not expected to significantly impact global insurers and reinsurers.
July 25, 2024
Insurance Industry
Risk Management
Technology
How Climate Technology is Shaping the Future of Insurance
Climate change poses significant challenges for the insurance industry, but climate technology offers solutions that can help insurers predict, prevent, and mitigate weather-related risks, potentially transforming the sector.
July 25, 2024
Catastrophe
Property
Risk Management
Technology
Embracing Solar Power: Technological Evolution and Insurance Industry Challenges
Jason Kaminsky, CEO of kWh Analytics, discusses how advancements in solar technology are reshaping the insurance landscape and addressing emerging liabilities.
July 24, 2024
Insurance Industry
Risk Management
Technology
Underwriting
The Future of Underwriting: Embracing AI and Automation
The integration of AI and business rules engines in underwriting is revolutionizing the industry, reducing menial tasks, and enabling underwriters to focus on strategic issues.
July 24, 2024
Insurance Industry
Risk Management
Technology
Underwriting
NBA Teams Sued for Copyright Infringement in Social Media Videos
Fourteen NBA teams are accused of using copyrighted music in social media promotional videos without proper licensing, leading to multiple lawsuits by Kobalt and other music companies.
July 23, 2024
Insurance Industry
Legislation & Regulation
Litigation
Technology
Arizona
California
Colorado
Florida
Georgia
Challenges and Innovations in Insurance Underwriting Amid Economic Uncertainty
With high inflation, climate risks, and varying state regulations, insurance underwriting and pricing rely more than ever on accurate loss projections and economic forecasts.
July 23, 2024
Insurance Industry
Risk Management
Technology
Underwriting
