Gov. Gavin Newsom and California’s Insurance Commissioner said they are overhauling the regulation of the state’s home insurance market that’s changed drastically because of disasters caused by climate change, which will likely make the insurance more available but also more expensive.
Author: Annie George
Ransomware Drives 12% Uptick in H1 Cyber Claims: Coalition
Cyber claims increased 12% in the first half of 2023 thanks in large part to a 27% increase in ransomware claim frequency, according to Coalition’s latest Cyber Claims Report.
Lyft to Pay $10M for Concealing Director’s Role in Pre-IPO Stock Sale
Ridesharing company Lyft Inc. has agreed to pay a $10 million civil penalty to resolve Securities and Exchange Commission (SEC) allegations that it failed to report a board director’s involvement in a $424 million private share sale before the company’s initial public offering (IPO).
New California Climate Law Pulls In Private Companies
California is poised to force many private businesses to report on carbon emissions, dramatically increasing the number of U.S. companies that could be subject to some kind of U.S. climate reporting.
AI Reduces Legal Involvement in Workers’ Compensation Lost-Time Claims by 15%, Saving Insurers Millions
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced the results of a comprehensive research study showing that AI-enabled workers’ compensation claims management reduced legal involvement for lost-time claims by 15%.
Flood Insurance Program Faces a Backlash—and a Deadline
A federal program that provides critical flood insurance is set to lapse unless renewed by the end of the month, potentially stranding new home buyers in need of coverage.
Regulators Struggle to Rein in Amazon on Safety for Warehouse Workers
Amazon on Monday began publicly defending its safety record at a hearing in Washington state that follows more than a decade of complaints about workplace conditions across the country.
More Companies Are Disclosing Their ESG Data, but Confusion on How Persists
Public companies in the U.S. are increasingly disclosing sustainability information, but many say they find it a challenge to report fundamental climate data that many regulators around the globe likely will require under incoming mandatory reporting standards.
Alliant SES Launch Revolutionizes Rental Property Owner Insurance with QUBIE, Powered by INSTANDA
INSTANDA, the global provider of no-code insurance platform technology, today announces the realization of its partnership with Alliant’s SES Risk Solutions on the official launch of SES’s QUBIE platform for agents.
Allstate Announces August 2023 Catastrophe Losses
Allstate today announced estimated catastrophe losses for the month of August of $551 million or $435 million, after-tax.