Insurtech Funding Falls to Four-Year Low in 2023, Reveals Gallagher Re Report
Insurtech funding declined to $4.5 billion in 2023, marking the lowest investment level since 2018 amidst a challenging economic climate.
February 5, 2024
Life & Health
Property
Technology
Cloudflare Counters State-Backed Cyber Intrusion with Comprehensive Security Measures
Cloudflare’s swift and effective response halts a nation-state cyber attack, aiming for widespread access to its network, without compromising customer data.
February 2, 2024
Risk Management
Technology
Surge in Cyber Insurance Adoption Driven by Increased Cyber Attack Risks and Contractual Requirements
With cyber attacks becoming an inevitable threat, over 70% of organizations now hold cyber insurance, reflecting a shift towards proactive risk management.
February 2, 2024
Insurance Industry
Technology
Florida Bar Greenlights AI Use with Ethical Guardrails for Legal Practice
In a pioneering move, the Florida Bar approves AI for legal use, setting ethical standards to guide lawyers in harnessing AI technology responsibly.
February 2, 2024
Legislation & Regulation
Technology
California
Florida
Illinois
Kentucky
Minnesota
SEC Mandates Swift Cybersecurity Incident Reporting for Public Companies
Under new SEC rules, public companies must now report significant cybersecurity incidents within four business days, enhancing transparency and risk management.
February 1, 2024
Legislation & Regulation
Risk Management
Technology
MGM Resorts Cyberattack Highlights New Challenges in IT Security and the Need for Enhanced Protocols
The recent cyberattack on MGM Resorts, costing an estimated $100 million, underscores the evolving threat landscape and the critical need for robust IT security measures.
January 31, 2024
Catastrophe
Risk Management
Technology
Ransomware Threats Persist Despite Law Enforcement Efforts, Revealing New Challenges for Cybersecurity
Despite law enforcement crackdowns, ransomware activities soared in 2023, signaling ongoing challenges and the need for enhanced cybersecurity measures.
January 31, 2024
Catastrophe
Risk Management
Technology
Amazon and Google Exit Insurance Comparison Market, Spotlighting the Resilience and Adaptation of Insurance Incumbents
Despite recent exits of Amazon and Google from insurance comparison services, traditional insurers continue to excel, blending technological innovation with proven expertise.
January 31, 2024
Auto
Risk Management
Technology
FloodFlash Revolutionizes Flood Insurance with Innovative Sensor Technology in the U.S.
FloodFlash, with its unique sensor-based parametric flood insurance, is transforming the flood coverage landscape in the U.S., offering more accurate and reliable policies.
January 31, 2024
Property
Risk Management
Technology
Alaska
Hawaii
New Federal Requirement for AI Developers to Disclose Safety Tests
In a move to ensure AI safety, the Biden administration mandates major AI developers to disclose safety test results, enhancing technology management and national security.
January 30, 2024
Insurance Industry
Legislation & Regulation
Risk Management
Technology
Navigating Market Adaptation and Ecosystem Models with Amazon’s Insurance Store Experiment
Examining the influence and lessons of Amazon’s Insurance Store on the insurance industry, emphasizing the importance of adapting to ecosystem business models.
January 30, 2024
Insurance Industry
Technology
European Insurance Industry Urges EU for Legislation on Vehicle Data Access
European insurers and automotive service providers appeal to the EU for urgent legislation on equitable access to in-vehicle data to foster competition and innovation.
January 29, 2024
Auto
Legislation & Regulation
Technology
Overcoming Obsolescence Anxiety in the Digital Era
The upcoming CPCU Society’s In2Leadership event in Phoenix, Arizona, will focus on combating the fear of becoming obsolete in the rapidly evolving digital landscape.
January 29, 2024
Education & Training
Technology
Arizona
Navigating the New Era of Ransomware Tactics and Cybersecurity Challenges
2023 sees a shift in ransomware tactics, with a focus on third-party vendors and larger targets, underscoring the need for evolved cybersecurity strategies.
January 29, 2024
Risk Management
Technology
Electric and High-Tech Vehicles Steering a New Course in Auto Insurance
The rise of electric vehicles and advanced automotive technologies is significantly altering the auto insurance industry, impacting costs and prompting innovative insurance practices.
January 26, 2024
Auto
Insurance Industry
Risk Management
Technology
