With the recent surge in extreme weather events, including early hurricanes and unpredictable storm patterns, travel insurance has become a must-have for many vacationers.
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Insurance Industry Fights for Subrogation Rights in $4.04 Billion Maui Wildfire Settlement
The insurance industry is vigorously contesting a recent ruling by Maui Judge Peter Cahill, which blocks insurers from pursuing subrogation claims to recoup billions of dollars paid out in wildfire claims. The ruling clears the way for a $4.04 billion settlement related to the catastrophic August 2023 fires in Lahaina, which claimed 102 lives.
Looming NFIP Expiration Threatens Homebuyers and Insurers
Congress is facing a critical deadline to reauthorize the National Flood Insurance Program (NFIP) by September 30, a move that could have significant implications for the real estate and insurance industries if left unresolved.
Soaring Insurance Costs Could ‘End’ Affordable Housing
Property insurance premiums have surged, especially in states prone to natural disasters like Florida, Texas, and California. Insurers attribute these hikes to the frequency and severity of extreme weather events, along with increased costs for home repairs and construction.
The Impact of California’s SB 553 on the Insurance Industry
California’s SB553, a new workplace violence prevention law, is fundamentally changing the requirements for businesses across the state. Effective July 1, 2024, this law mandates that nearly all businesses implement comprehensive workplace violence prevention plans.
Understanding the Implications of Montana’s Insurance Department Ruling on Repair Cost Denial
The recent ruling by the Montana Insurance Department addressing a complaint against Liberty Mutual has sent ripples through the insurance industry.
The High Cost of Non-Compliance: Navigating Insurance Licensing Pitfalls
With each state enforcing its own set of licensing regulations, maintaining compliance isn’t just a matter of meeting deadlines — it’s about protecting your business from severe financial and operational repercussions.
The Evolving Challenges in Insurance Defense: Navigating the Talent Crunch and Rising Costs
The insurance defense sector is grappling with unprecedented challenges, as the industry faces a dual dilemma: a talent shortage and rising operational costs.
Rising Costs Could Lead to Stripped-Down Workplace Insurance
The increasing demand for expensive weight-loss drugs like Wegovy and Ozempic is driving up the cost of workplace insurance, potentially leading to pared-down benefits in the near future.
Cyber Insurance: A Key Driver of Risk Reduction
Recent reports, including a Forrester study and an Omdia survey commissioned by At-Bay, underscore the critical role cyber insurance plays in helping companies mitigate cyber risks. Organizations with standalone cyber insurance are more effective at detecting, responding to, and recovering from cyber incidents compared to those without coverage. This trend is leading to increased demand… Continue reading Cyber Insurance: A Key Driver of Risk Reduction