TX Insurance Adjuster Gets 20-Year Prison Sentence for Stealing Hurricane Ida Payouts

Insurance adjuster steals Hurricane Ida claim payouts

An insurance adjuster from Texas was sentenced to 20 years in prison for pocketing more than $200,000 in insurance payouts meant for St. Charles Parish residents who filed claims to repair damage to their property following Hurricane Ida.

Best’s Market Segment Report: Europe’s Big Four Reinsurers Benefit from Hard Market Conditions

P&C underwriting performance improves except Person Lines

Heightened demand and higher prices contributed to a 6% increase in net premiums written in 2022 (when measured in USD) by Europe’s Big Four reinsurance groups—Munich Re, Hannover Re, Swiss Re and SCOR—according to a new AM Best report.

Deciphering AI Risk Insurance: Beyond Cyber Coverage

AI and industry risks

As digital transformation accelerates, insurers face new challenges, notably the rise of AI risk insurance. This article from Program Business Marketplace examines AI Risk’s implications for the insurance sector, drawing parallels with familiar cybersecurity risks faced by carriers, agents, and brokers.

Hurricane Idalia Insured Loss Estimates Point to Lower-Half of $3B – $9B Range

Active Hurricane season predicted

Early estimates for the insurance and reinsurance industry loss caused by the impacts of hurricane Idalia in Florida and southeastern US states appear to be in a range for roughly $3 billion to $9 billion, with most erring towards the lower-half.