Federal Policy Conflicts Could Raise Flood Insurance Costs, Leave Thousands Unaware of Dam Risks
Conflicting federal policies hinder communities from accessing vital dam failure data, potentially raising flood insurance costs and leaving residents unaware of flood risks.
August 26, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Arizona
California
Colorado
Georgia
Minnesota
Hurricane Rainfall Predicted to Intensify in Frequency and Impact
A DeepSky Research report predicts a 300% rise in extreme hurricane rainfall frequency and a 33% increase in severity, highlighting the urgent need for preparedness as hurricane impacts are expected to worsen rapidly.
August 26, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Louisiana
Mississippi
North Carolina
South Carolina
Managing Challenges in Late-Reported Property Claims
Late-reported property claims pose unique challenges for insurers and adjusters, particularly when determining the cause and policy period of a loss. Thorough investigations and documentation are crucial to mitigate risks of litigation and bad faith claims.
August 15, 2024
Insurance Industry
Litigation
Property
California
Florida
Louisiana
New York
Texas
Federal Authorities Probe Fatal Tesla Cybertruck Crash and Fire in Texas
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.
August 14, 2024
Auto
Legislation & Regulation
Litigation
Technology
Texas
Wildfire Risk Intensifies in 2024: Over 2.6 Million Homes at High Risk in the Western U.S.
As of mid-2024, wildfires have ravaged millions of acres in the U.S., with over 2.6 million homes at moderate or greater risk, emphasizing the crucial role of insurance and risk management in protecting communities.
August 13, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Arizona
California
Colorado
Hawaii
Idaho
People Flock to Texas and Florida Despite Fire and Flood Risks
People are moving to fire- and flood-prone areas in the US, driven by migration to Texas and Florida. These states attract newcomers with low taxes and affordable housing, despite growing climate risks.
August 7, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Texas
Austin ISD CFO Arrested on Insurance Fraud Charges and Placed on Leave
Austin Independent School District CFO has been placed on leave following an arrest on insurance fraud charges.
August 7, 2024
Education & Training
Fraud
Legislation & Regulation
Litigation
Texas
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
Oil and Gas Activity Likely Caused West Texas Earthquakes
Recent damaging earthquakes in West Texas are likely caused by oil and gas activity, according to the USGS.
July 31, 2024
Catastrophe
Legislation & Regulation
Litigation
Risk Management
New Mexico
Oklahoma
Texas
Man Faces Charges in Houston Roofing Fraud Case
A Galveston County, Texas man is charged with felony criminal mischief for allegedly damaging a roof to file a fraudulent storm damage insurance claim, authorities report.
July 30, 2024
Fraud
Insurance Industry
Litigation
Property
Texas
Homeowners Face 21% Insurance Premium Increase, Climate Change Cited as Major Factor
Homeowners insurance premiums surged by 21% from May 2022 to May 2023, largely due to severe weather events driven by climate change, leaving many homeowners with limited options.
July 29, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Property
California
Colorado
Florida
Idaho
Louisiana
Premium Renewal Rates Increase Across Major Commercial Lines Except Workers’ Compensation
The Q2 2024 Ivans Index reveals an overall increase in premium renewal rates for major commercial insurance lines, with Workers’ Compensation as the exception, showing a year-over-year decrease.
July 25, 2024
Auto
Insurance Industry
Property
Workers' Compensation
Mississippi
Nebraska
New York
Texas
Wisconsin
Gallagher Re’s Mid-Year Natural Catastrophe and Climate Report Highlights 2024’s Severe Convective Storm Impact
The first half of 2024 saw substantial global insured losses, with US severe convective storms accounting for 61% of the $61 billion total, highlighting the period as the costliest on record.
July 24, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Colorado
Iowa
Oklahoma
Texas
Trucker’s Wife Avoids Second Prison Term in Workers’ Compensation Fraud Case
Frances Hall, previously convicted of murdering her husband, avoids a second prison term after pleading guilty in a $9 million workers’ compensation fraud scheme.
July 24, 2024
Fraud
Insurance Industry
Litigation
Workers' Compensation
Texas
Gulf Coast Disasters 2020-2021: Impacts and Lessons
Exploring the compounded impacts of multiple disasters on Gulf Coast communities from 2020 to 2021 and the lessons learned to enhance future resilience.
July 22, 2024
Catastrophe
Life & Health
Property
Risk Management
Alabama
Florida
Louisiana
Mississippi
Texas
