The Biden administration on Thursday said leading artificial intelligence companies are among more than 200 entities joining a new U.S. consortium to support the safe development and deployment of generative AI.
Author: Annie George
Vast Majority of California Flood Victims’ Losses Won’t Be Covered by Insurance
Many victims of the massive storms now battering Southern California about are to be hit with another heartbreak – discovering their insurance won’t cover the damage.
Citizen’s Property Insurance Would Cover All Floridians Under Proposed Plan
Representatives Spencer Roach from Fort Myers and Representative Hillary Cassel from Dania Beach proposed that state-run Citizens Property Insurance cover wind claims for anyone in the state who wants it.
PRC State-Sponsored Actors Compromise and Maintain Persistent Access to U.S. Critical Infrastructure
The Cybersecurity and Infrastructure Security Agency (CISA), National Security Agency (NSA), and Federal Bureau of Investigation (FBI) assess that People’s Republic of China (PRC) state-sponsored cyber actors are seeking to pre-position themselves on IT networks for disruptive or destructive cyberattacks against U.S. critical infrastructure.
US Assure: New Home Construction Up to $1 Million Now Eligible for 6-Question Builders Risk App
US Assure, the exclusive program administrator for the Builders Risk Plan insured by Zurich, expanded eligibility for its online six-question application with no underwriting holds, increasing speed and ease of use for insurance agents.
Renewal Rates for Nearly All Commercial Lines Up YoY; Nearly All Experience Decrease Month Over Month
Year over year, all major commercial lines experienced an increase in average premium renewal rates. Month over month, Workers’ Compensation experienced an increase in premium renewal rate change, while Commercial Auto, BOP, General Liability, Commercial Property, and Umbrella saw decreases.
Amwins: Property Market Conditions Expected to Slow and Even Out as Year Progresses
According to Amwin’s 2024 Property Outlook, the property market was showing signs of softening and a slowdown in the pace of rate increases for most insureds was to be expected. As we move further into Q1, that prediction is ringing true.
Social Inflation Causing Auto, Home Insurance Rates to Jump
Consumers aren’t likely to see their insurance rates go down this year, according to a Morgan Stanley report. The last few years have been rocky ones for the insurance industry. Social inflation rose higher than traditional economic inflation.
NBA Sued Over Marketing Deal with Failed Crypto Lender
The National Basketball Association was hit with a lawsuit over its marketing links to failed crypto exchange Voyager Digital Holdings Inc., which investors claim led to $4.2 billion in losses.
California Storms Leave 543,000 Homes at Risk of Flash Flood Damage: CoreLogic
CoreLogic, the global provider of property information, analytics, and data-enabled solutions, estimates that across the greater Los Angeles area, nearly 543,000 single- and multifamily homes with a combined reconstruction cost value (RCV) of more than $258 billion are at risk of flash flood damage.