2024

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Modern Cars Are Surveillance Devices on Wheels With Major Privacy Risks: Report

Insurance Journal

New research reveals serious privacy flaws in the data practices of new internet connected cars in Australia. It’s yet another reason why we need urgent reform of privacy laws. Modern cars are increasingly equipped with internet-enabled features.

Risk 306
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CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management

Property Insurance Coverage Law

In a shocking exposé aired last night on CBS’s 60 Minutes, allegations of widespread insurance fraud by insurance companies following Hurricane Ian were exposed. The investigative report featured testimony from whistleblowers who claim that insurance companies deliberately altered hurricane damage reports to underpay homeowners, leaving many Floridians struggling to rebuild their lives in the wake … The post CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Alt

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Beards and Respirators: Navigating No Shave November Safely

CDC: Workers Compensation

Introduction No Shave November is a great opportunity to grow out your beard for a good cause. But if you rely on a tight-fitting respirator for work, that extra facial hair could pose a safety concern. Respirators protect workers from harmful particles, but their effectiveness depends on forming a tight seal against your skin. So, what does that mean for your growing beard during No Shave November?

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Blog Post: Two Years In: Real Results from the AI Evolution in Legal

LexisNexis

By: Melissa Morrison , Director of Segment Management, LexisNexis Two years ago, the generative artificial intelligence (Gen AI) revolution was born with the commercial launch of ChatGPT in November 2022. Other leading tech companies quickly joined with the rollout of their own general purpose Gen AI tools and the race was on. LexisNexis quickly pioneered the use of Gen AI for legal research and analysis with the introduction of Lexis+ AI â„¢ in October 2023.

Policy 120
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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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Norwegian Hull Club CUO Fjeldstad will relocate from Bergen to Oslo

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Norwegian Hull Club CUO Fjeldstad will relocate from Bergen to Oslo appeared first on Insurance Marine News.

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Building a Strong Web Presence: Website Essentials for Retail Insurance Brokers and MGAs

Neilson Marketing Services

It can be difficult to wrap your arms around the intricacies of digital marketing. Many times, people default to what they know and understand — appearance. Your insurance website can look great, but it still may not do the job. Don’t just check the box. Your website is the gateway to your business. Many times, it’s going to determine who takes the next step, and you want to make sure you can be easily discovered by people who know you by name and those searching for solutions.

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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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Florida Storm Surge Swamps Nuclear Plant, Pro Golfer’s Home, Many More

Insurance Journal

Hurricane Helene’s storm surge along Florida’s western edges is being called the most devastating since 1921, responsible for destroying or heavily damaging hundreds of homes and businesses in the area.

Damage 363
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Florida’s Heritage Stock Price Drops After ’60 Minutes’ Report on Adjusters

Insurance Journal

Just as Florida property insurers face another round of storm claims, CBS News has raised questions about alleged insurer fraud stemming from claims incurred in the last major storm – Hurricane Ian, which hit much of southwest Florida two years …

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Vineyard Wind Incident Is Not First Time a GE Vernova Wind Turbine Came Apart

Insurance Journal

An incident at the Vineyard Wind offshore wind energy project this week that scattered shards of fiberglass across Massachusetts beaches was the latest in a series of failures involving wind turbines built by GE Vernova.

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Wall Street Pushes Back After Activists Escalate Protests

Insurance Journal

Against a backdrop of intensifying climate protests targeting Wall Street, the heavyweights of US finance are pushing back against what they characterize as a fundamentally flawed debate.

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US Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023: Report

Insurance Journal

Nuclear verdicts in the United States are breaking records with 27 court cases each awarding compensation of more than US$100 million during 2023, according to Swiss Re executives.

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Helene Dumps Rain on Millions of US Homes That Lack Flood Insurance

Insurance Journal

On Thursday night Helene crashed into Florida’s coast as a Category 4 hurricane. The giant storm with 140-mile-per-hour winds made landfall close to where Hurricane Debby hit in August and where Idalia struck just over a year ago.

Insurance 334
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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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Why US Home Insurance Rates Are Rising Fast – Climate Change Plays a Big Role

Insurance Journal

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country.

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Insurers Tied to Apollo, KKR Buy Mortgages Outright in New Twist

Insurance Journal

Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright. It’s a trend that’s picked up pace over the last few years.

Insurance 345
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Dozens of Alleged Looters, Unlicensed Construction Workers Arrested in Florida

Insurance Journal

More than 100 people were arrested late last week in storm-ravaged Pinellas County, Florida, charged with looting homes and working as unlicensed contractors, two weeks after Hurricane Milton forced many residents to evacuate.

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Biden Requests $98.6 Billion in Emergency Disaster Aid Funds

Insurance Journal

President Joe Biden’s administration is seeking $98.6 billion in emergency disaster relief funding from Congress to address the devastation from recent back-to-back hurricanes that hammered the US southeast and left billions in damage.

Damage 261
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New York City Issues First Drought Warning in 22 Years

Insurance Journal

New York City has issued its first drought warning in 22 years after months of little rain — and will restart the flow of drinking water from an out-of-service aqueduct as supplies run low.

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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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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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Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses

Insurance Journal

New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition.

Insurance 323
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US Property Insurance Rates Fall for First Time Since 2017

Insurance Journal

US property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average US property insurance rate decreased 0.

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

Insurance Journal

By Andrew Simpson 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 276
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Boeing Dismantles DEI Team as Pressure Builds on New CEO

Insurance Journal

Boeing Co. has dismantled its global diversity, equity and inclusion department, making it the latest high-profile corporation to make changes to its DEI policy as its new top leader oversees a broader revamp of the company’s workforce.

Building 299
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Tesla Sued by Family of Electrician Who Died at Austin Facility

Insurance Journal

The family of a Texas man who died while working at Tesla’s Austin-area facility last week is suing the electric vehicle company and his employer. The lawsuit said the worker, Victor Joe Gomez Sr., was at the facility on Aug.

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State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P

Insurance Journal

State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis.

Insurer 317
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Would Letting Roofers Do More Wind-Mit Work Help Cut Florida’s Insured Losses?

Insurance Journal

A recent photograph of destruction left by Hurricane Milton’s wind tells the story: An entire roof section on a residential complex in Bradenton, Florida – including rafters and ceiling joists – was ripped off, exposing people’s abodes and belongings to …

Insurance 299
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Cyber Resilience Overestimation Leads to Business Continuity Issues, Ransom Payments

Insurance Journal

New research commissioned by Cohesity, an AI-powered data security firm, reveals organizations overestimate their cyber resilience capabilities and maturity, leading to significant business continuity disruptions and ransom payments.

Cyber 311