The bottom line of every preseason hurricane forecast this spring has been sobering, even a little scary. Meteorologists and their computer models all agree that it’s going to be a super busy and perhaps record-breaking season — and that with so many expected storms, it’s very likely that somebody, somewhere is going to get smacked this year. But exactly who and where?
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Ransomware Group Claims Responsibility for Christie’s Hack
A hacker group called RansomHub said it was behind the cyberattack that hit the Christie’s website just days before its marquee spring sales began, forcing the auction house to resort to alternatives to online bidding.
NSM Insurance Group Acquires Two Leading U.K. Travel Insurance Brands
NSM Insurance Group, a global specialty insurance provider with more than $1.6B in premium across 25+ niche insurance programs, today announced that it has signed a definitive agreement to buy InsurEVO.
Oklahoma Grants to Harden Homes Start Next Year
Oklahoma Gov. Kevin Stitt signed the Strengthen Oklahoma Homes Act, creating home-hardening grants awarded to residents who install impact-resistant roofing or make enhancements to lessen the risk of damage from tornadoes, windstorms and hail.
Swiss Re Report: How AI Could Change Industry Risk Landscapes
The potential benefits of artificial intelligence (AI) are immense. Swiss Re has written extensively on how AI and generative AI will likely be transformative within the insurance industry.
Aon: U.S. Insurers Incur Billions of Dollars in Losses from May 16-22 Severe Storms
Severe convective storms May 16-22, including a derecho system that charged across Gulf states from Texas to Florida, caused billions of dollars in estimated insured losses in the United States, according to Aon.
The Hidden Driver of Soaring Home Insurance Costs
One leading, but little-discussed, cause of this coverage crunch: a big increase in the cost of reinsurance policies. Now all eyes are on a round of reinsurance renewals currently under way in Florida and elsewhere that will help determine whether more premium increases are in store for homeowners.
70% of Firms Faced BEC Attacks in 2023: Arctic Wolf
Business email compromise now ranks as a top attack method, with 70% of organizations saying they’ve faced a BEC attempt in the last year and 29% actually falling victim to at least one attack, according to a new report from Arctic Wolf.
DUAE Market Sees Double-Digit Growth Amid Caution on Capacity, Fronting
Delegated underwriting authority enterprise are enjoying strong growth rates in underserved segments but the market warrants a note of caution on capacity and fronting concerns.
Howden Launches Platform to ‘Democratize’ Cyber Insurance for SMEs
Howden has launched a unique cyber insurance platform with the goal of simplifying purchasing for small to medium-sized enterprises (SMEs).