Some property insurance rates in Florida might be about to jump — in a big way.
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Americans Reported Losing a Record $10 Billion to Scams and Fraud in 2023
Consumers reported losing $10 billion to scams and fraud in 2023, up from $9 billion the year before, according to newly released numbers from the Federal Trade Commission (FTC). The rising cost of these crimes is staggering, considering that in 2020 Americans lost only $3.5 billion to fraud, including identity theft.
Lacking Flood Insurance Can Lead to Property Risks and Unexpected Costs
Recent U.S. hurricane activity and severe flooding from coast to coast have amplified the cost of being uninsured, and just because it hasn’t previously flooded in an area doesn’t mean that it can’t happen.
New Legal Claims Against San Diego Over January Flooding Seek Class-Action Status
The ramifications of the flooding that drove hundreds of people from their homes and caused millions of dollars in damage last month continue to swamp San Diego City Hall.
SEC Hits 16 Firms with $81M Fine Over ‘Pervasive and Longstanding’ Record-Keeping Violations
Seven dually registered broker-dealers and investment advisers, five broker-dealers, and four affiliated investment advisers agreed to pay a total of $81 million in fines to resolve U.S. Securities and Exchange Commission (SEC) allegations that they failed to maintain and preserve electronic communications.
Lloyd’s Invests in Lab Alumni for Cyber, Modeling Solutions
Lloyd’s said it made the first two investments from its Central Fund private markets allocation to support two Lloyd’s Lab alumni — Axio and REOR20 — to develop their insurance solutions within the London insurance market.
U.S. Says Leading AI Companies Join Safety Consortium to Address Risks
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.
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.