Lloyd’s, the world’s leading marketplace for insurance and reinsurance, today launched a systemic risk scenario that models the global economic impact of extreme weather events leading to food and water shocks, estimating the loss to be $5 trillion over a five year period.
Author: Annie George
Study: 78% in Commercial Auto Insurance Business Researching Telematics
Approximately four of five (78%) commercial auto insurers are in the research phase of preparing for usage-based insurance products, but are not ready to implement the technology.
Heads of Florida OIR, Citizens, Say Property Market Is Heading in the Right Direction
If there were only one numerical trend needed to understand how dire the property insurance market in Florida has been, it would be the steady growth of policies taken on by the state’s insurer of last resort, Citizens Property Insurance Corp.
NetDiligence Unveils Thirteenth Annual Cyber Claims Study
This year’s study analyzes 9,000 cyber claims spanning the period from 2018 to 2022, with 800 claims from 2022 alone.
Report: Truist in Talks to Sell Insurance Business for $10B
Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter.
New APCIA Survey Shows Nearly Three-Quarters of Homeowners Face Barriers to Increasing the Resiliency of their Home
Recent high profile natural catastrophic events highlight how important mitigation and resiliency are for homeowners and business owners in protecting their property from costly natural disasters.
U.S. Employers Covering Weight-Loss Drugs Could Nearly Double in 2024: Survey
The number of U.S. employers who cover obesity medications, including Wegovy from Novo Nordisk that belongs to a class of GLP-1 drugs, could nearly double next year, according to a survey.
Hacker Puts 23andMe User Data Up for Sale on the Internet
An anonymous hacker is claiming to be selling “millions” of genetic profiles cobbled together from hijacked 23andMe customer accounts.
ReSource Pro Reports on the New Era of Carrier Staffing and Productivity Management
As carriers navigate ever-evolving workplace dynamics, maintaining enterprise-wide efficiency and effectiveness remain critical linchpins for organizational success.
Hackers with AI Are Harder to Stop, Microsoft Says
Stealthier attacks are being crafted by hackers using both artificial intelligence tools that have been on the market for a while and generative-AI chatbots that emerged last year, said Tom Burt, Microsoft’s corporate vice president for customer security and trust.