The challenge of obtaining suitable and affordable coverage is eased with SMEs’ access to cyber solutions from WTW, a leading global advisory, broking, and solutions company.
Author: Annie George
PG&E Agrees to $45M Penalty to Settle Action Over 2021 Dixie Wildfire
PG&E has agreed to pay a $45 million penalty to settle an action brought by California’s public utilities regulator for its part in the Dixie Fire in 2021, which burned through five counties in the north of the state and took three months to extinguish.
Inszone Insurance Services Acquires High Desert Insurance
Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, is pleased to announce its recent acquisition of High Desert Insurance, out of Pueblo, Colorado.
CA Commissioner to Unveil Changes to California Home, Auto Insurance Rate Process
Insurance Commissioner Ricardo Lara told state lawmakers on Wednesday that his office would soon begin unveiling the first in a series of highly-anticipated rule changes that could affect the price and availability of home and auto insurance in California.
Leaked Data Reveals 26 Billion Account Records Stolen from Twitter, LinkedIn and More
Dubbed the “Mother of all breaches,” the massive leak revealed 26 billion records (including popular sites such as LinkedIn, Snapchat, Venmo, Adobe and X, formerly Twitter) in what experts are calling the largest leak in history.
Marsh McLennan CEO: Catastrophe, Social Inflation, Reinsurance Costs Rise in 2024
Geopolitical and economic risks are worrying Marsh McLennan’s clients as the broker sees rising costs for risks from catastrophes, social inflation and reinsurance, said its chief executive officer.
Nearly a Quarter of SMBs Worry About Cyber Risk Daily: McAfee Survey
Cybersecurity remains a major concern for small businesses worldwide, with 73% of organizations identifying it as a significant risk or vulnerability and nearly one quarter (24%) of SMB owners saying they worry about cyber threats daily, reported McAfee.
Insurers Seek Reimbursements from Hawaiian Electric, Others for Maui Wildfire Claim Payments
More than 140 insurance industry plaintiffs have joined the cascade of lawsuits filed against utilities and landowners related to the Maui wildfires, a move that could set up a battle over resources available to pay victims of the disaster that killed 100 people and destroyed much of Lahaina in August.
Elected Insurance Commissioners’ Balancing Act: Constituent vs. Insurer Needs
There are calls from the public, insurers, and legislators for reforms and solutions as the insurance industry battles climate change, the high cost of inflation, and nuclear verdicts. In the crossfire are elected insurance commissioners, who need to balance what their constituents want and elected them to do and what insurers need to do to cover losses adequately. Eleven states elect commissioners, while the other 39 and D.C. are appointed.
Insurers Rake in Profits as Customers Pay Soaring Premiums
The pain for home- and auto-insurance customers is quickly becoming investors’ gain. Insurance giants’ shares and profits are hitting records, thanks in part to steep rate hikes.