October, 2024

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Tesla Recalls Over 27,000 Cybertrucks in Fifth Callback This Year

Insurance Journal

Tesla said on Thursday it would recall more than 27,000 Cybertrucks in the United States due to delayed rear-view camera images that could impair driver visibility and increase crash risks.

Risk 361
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Blog Post: Navigating Political Expression in the Workplace: A Guide for In-House Counsel

LexisNexis

We are now heading into the homestretch of yet another contentious election season in a national political climate where deep divisions are prevalent in our neighborhoods and town squares. The workplace is no exception to these environments of hyper political disagreements. A recent survey by Littler Mendelson of 400 in-house counsel and corporate executives found that 87% of employers expressed concern with managing divisive political and social beliefs among their employees leading up the elec

Policy 122
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Nuclear power for shipping pioneer CORE POWER swells funding to $500m

Splash: Finance and Insurance

Shipping nuclear propulsion start-up CORE POWER is set to reach a funding milestone of $500m, which will support the UK-based company in finishing the technology designs and building the program for the maritime industry.

Building 123
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More than 6% of international trade vessels now in shadow fleet, says Kpler

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post More than 6% of international trade vessels now in shadow fleet, says Kpler appeared first on Insurance Marine News.

Marine 110
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ACA open enrollment: what’s new for 2025

Healthinsurance.org

In this article DACA recipients may be eligible to use the Marketplace Georgia switches to state-run Marketplace platform State-funded health insurance subsidies change in several states Some Oregon enrollees may switch to Basic Health Program Individual and family premium increases average 6-7% At least 11 states will see carrier entries and exits New short-term health insurance rules affect access to coverage Rules prevent unauthorized enrollments and plan changes Open enrollment for 2025 ACA

Premium 111
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Florida InsurersCan Weather AnotherBig Storm This Season

Triple-I: Homeowners Insurance

Despite warnings from two leading insurance rating agencies that Hurricane Milton weakened or threatened Florida’s recovering home insurance market, the market “can manage losses” from the Category 4 storm “and are ready to cover yet another hurricane,” if one should come this season, according to industry experts who spoke with the South Florida Sun Sentinel.

Premium 111

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Blog Post: Breaking Down Law Firm Data Silos with New AI-Powered Tools

LexisNexis

By Madison Johnson, Esq. | Marketing Manager Large law firms have been on a technology transformation journey for the past two decades, embracing new ways of empowering lawyers to work more efficiently and more effectively with the aid of fast-moving legal tech innovations. These firms now find themselves in a bit of a quandary that was the inevitable result of this rapid growth in reliance on technology.

Building 124
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USAID provides funding to fight maritime corruption in major ports

Splash: Finance and Insurance

The Maritime Anti-Corruption Network (MACN) has received two-year project funding from the US government’s development agency USAID to help in the fight against transnational maritime sector corruption. These funds are part of USAID’s ‘Doing Business with Integrity’ activity and the collaboration will be part of its ‘Countering Transnational Corruption Grand Challenge for Development’.

Insurance 118
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Solo Creed confirmed as arrested in Angola

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Solo Creed confirmed as arrested in Angola appeared first on Insurance Marine News.

Marine 105
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Boost security with these top retail story safety tips.

Frankenmuth Insurance

Setting up or running the small business of your dreams? Reduce your risks with these 13 retail store safety tips: Step up your security. Minimize crime with security cameras, ample exterior lighting, and alarm systems. Ensure your security cameras cover key entrances and blind spots and invest in quality equipment. Teach team members how to turn alarms on and off.

Crime 111
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Unlocking Local SEO for Insurance Agencies: Targeting Your Local Market

Neilson Marketing Services

Imagine a potential client in your neighborhood searching for home or auto insurance. They whip out their phone, type “best insurance agency near me,” and within seconds, a list of local businesses appears. Will your insurance agency be on that list? This is where the power of local SEO for your insurance agency comes into play. Being visible in local search is essential for capturing the attention of people actively looking for insurance products like yours.

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Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Insurance Journal

A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy.

Theft 312
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Blog Post: Drafting Reimagined with Internal Data and External Knowledge

LexisNexis

By Madison Johnson, Esq. | Marketing Manager One of the foundational disciplines of the practice of law is the drafting of documents, from business contracts and licensing agreements to client legal memoranda and litigation briefs, pleadings and motions. There is pressure to create documents that are effective for the client and to do so in an efficient manner.

License 116
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The Data Behind Rising Homeowners Premiums: By Peril and By State

Insurance Journal

The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S.

Premium 315
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Softbank Says Credit Suisse to Blame For Fund’s $440 Million Greensill Los

Insurance Journal

Softbank Group Corp., facing a $440 million lawsuit from Credit Suisse, said the bank was to blame for some of the investor losses tied to the collapse of Greensill Capital.

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New York Mets Hit With Class Action Alleging Biometric Privacy Violations

Insurance Journal

The company that owns the New York Mets professional baseball team is the target of a class action lawsuit alleging the organization collects and profits from fans’ biometric information at its stadium, CitiField, in violation of the city’s biometrics privacy …

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Hurricane Milton Insured Losses in $30B-$50B Range, Says Verisk

Insurance Journal

Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind.

Damage 331
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Hurricanes Milton and Helene Expose Limits of US Flood Maps

Insurance Journal

Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast US, it’s already clear that federal flood-risk maps underpinning decisions by millions of American homeowners and businesses are severely out of sync with a new …

Risk 317
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The Chief Artificial Intelligence Officer: Leading AI Innovation and Risk Management

Insurance Journal

Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every industry sector.

Risk 311
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Lemonade Remains in the Red With $68M Loss in Q3

Insurance Journal

Insurtech Lemonade reported a third quarter 20243 net loss of nearly $68 million and a year-to-date loss of $172.2 million. Results were in comparison to a net loss of $61.5 during the same quarter and a loss of $194.

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Fla. DFS Offers to Check Contracts With Roofers, Adjusters; Tenn. Eyes Claims Denials

Insurance Journal

Officials in two Southeastern states have taken steps to hold insurers or recipients of insurance funds accountable after Hurricanes Helene and Milton spurred thousands of insurance claims.

Claim 294
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Crews Fight Large Brush Fire in Massachusetts; Separate Fire Kills 1

Insurance Journal

A woman died in an outdoor fire in Massachusetts at an encampment in Millbury on Saturday night and crews on Sunday were still fighting a large overnight brush fire in Salem as dry and windy conditions have raised the risk …

Risk 294
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Lloyd’s Focuses on Delegated Authority Arrangements as Looming Market Risk

Insurance Journal

While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified.

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State Farm Settles Immigration Discrimination Case with Justice Department

Insurance Journal

The Justice Department announced that it secured a settlement agreement with State Farm resolving the department’s determination that one of State Farm’s corporate offices in Richardson, Texas, violated the Immigration and Nationality Act (INA) when it terminated a worker in …

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Flaws of the Saffir-Simpson Scale: Wind Isn’t the Only Threat in Modern Hurricanes

Insurance Journal

The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate assessment of these risks is more important than ever.

Premium 298
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Hurricane Milton Insured Loss Could Be $60 Billion, Similar to 2002’s Ian: RBC

Insurance Journal

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said.

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Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh

Insurance Journal

Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …

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Making Friends with the Future: Agency Tech Moving at a Faster Pace than Ever Before

Insurance Journal

By Andrea Wells That used to be one of my biggest beefs as an agency owner — I have all of these pieces of tech and none of them talked to each other,” Vonda Copeland, co-owner and vice president of …

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People Moves: Coalition Appoints AIG’s Simonsen as European Head of Insurance

Insurance Journal

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, has appointed Tine Simonsen as the company’s head of Insurance for Continental Europe.

Cyber 292
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Soft Commercial Market Ahead: Prepare for Underwriter ‘Herd Behavior’

Insurance Journal

Executive Summary: During the period 2013 through 2018, the U.S. did not become less litigious nor did Atlantic sea surface temperatures get less warm. Yet rates for U.S. excess liability and Atlantic hurricane both reduced, observe the co-founders of UWX.

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Auto Insurers Face Rising Repair Costs, EV and Tech Complexity in 2025: Report

Insurance Journal

Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to CCC Intelligent Solutions Inc.

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Tesla ‘Full Self-Driving’ Faces Defect Probe After Fatality

Insurance Journal

The US opened a federal investigation into whether Tesla Inc.’s partial-automation system marketed as Full Self-Driving is defective after a series of crashes, one of which resulted in a fatality.

Liability 289
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Florida Man Dies From Smoke After Golf Cart Battery Fire in Milton Flooding

Insurance Journal

The death toll from Hurricane Milton has risen to at least 25, including an elderly man who died from smoke inhalation after a golf cart battery exploded when submerged by rising floodwaters.

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New York Updates Financial Services Cybersecurity Regulation to Address AI Risks

Insurance Journal

The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 firms including insurers it regulates in addressing cybersecurity risks arising from artificial intelligence (AI).

Risk 283