A post on a hacker forum popular with cybercriminals has claimed UnitedHealth Group paid $22 million in a bid to recover access to data and systems encrypted by the “Blackcat” ransomware gang, according to two researchers.
Author: Annie George
Legal System Abuse Adding to Increasing Auto Insurance Costs
The Insurance Information Institute (Triple-I), the trusted source for data driven insights on risk and insurance, today released its latest issues brief highlighting how excessive litigation is compounding a years-long problem of rising auto insurance costs.
AM Best Assigns Negative Outlook to U.S. Directors and Officers Insurance Segment
AM Best has assigned a negative outlook to the U.S. directors and officers (D&O) market segment, citing growing competition as a key factor that has led to more capacity and lower pricing.
Former Twitter Executives Sue Musk Over Unpaid Severance
Four former top Twitter executives sued Elon Musk, saying he owes them a collective more than $128 million in severance.
Judge Strikes Down Law Requiring Corporate-Ownership Disclosure
An Alabama federal judge ruled the Corporate Transparency Act, a sweeping bipartisan anti-money-laundering law passed in 2021, was unconstitutional, leaving its future uncertain.
Verisk Expands Fraud-Fighting Capabilities for the Insurance Ecosystem with Two New Strategic Partnerships
Verisk announced two new collaborations with insurance technology companies designed to bolster fraud detection and analysis in the insurance claims process.
Premium Increases Slowed, Challenging Conditions Remain in Q4 2023: CIAB
Premium increases slowed across the board in Q4 2023 according to The Council’s recently released quarterly survey. The average premium increase across all account sizes was 7.0%, down from 8.1% in the previous quarter. Nevertheless, this was still the 25th quarter of consecutive increases.
Gov. Abbott Says Texas Wildfires May Have Destroyed Up to 500 Structures
Wildfires may have destroyed as many as 500 structures in the Texas Panhandle, Republican Gov. Greg Abbott said Friday, describing how the largest blaze in state history scorched everything in its path, leaving ashes in its wake.
IIHS Challenges Automakers with Tougher Top Safety Pick Award Criteria
The Insurance Institute for Highway Safety is making it harder to earn its Top Safety Pick and Top Safety Pick+ awards in 2024, challenging manufacturers to offer better protection for back seat passengers and improve their pedestrian crash avoidance systems.
American National Exits Homeowners in Nine States, Including Louisiana, California
American National plans to exit homeowners insurance business across nine states from the South to the West Coast.