Smaller but more frequent catastrophes are a primary driver of changing rates and coverage.
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Rising Flood Risks Threaten Many Water and Sewage Treatment Plants Across the U.S.
Water infrastructure across the country is vulnerable as climate change makes storms more unpredictable and destructive, flooding low-lying drinking water treatment plants and overwhelming coastal sewage systems.
Insurance Watchdog Weighs Overriding Credit-Rating Companies
The National Association of Insurance Commissioners is gearing up to challenge credit graders by overruling ratings on certain assets bought by insurance companies.
Crypto Trading Platform Bittrex, Former CEO to Pay $24M to Settle SEC Charges
Crypto asset trading platform Bittrex and its co-founder and former CEO, William Shihara, have agreed to settle charges with the US Securities and Exchange Commission (SEC) for $24 million over charges that they operated as an unregistered exchange, broker and clearing agency.
Why Are the Maui Wildfires So Devastating?
Wildfires tore through the Hawaiian island of Maui, killing at least 55 people and charring parts of the island. The historic town of Lahaina, a popular tourist destination, has been devastated.
Global Insurance M&A Activity Experiences Sharp Drop in H1 2023: Clyde & Co
The global insurance industry has experienced a significant decline in mergers and acquisitions (M&A) during the first half of 2023, according to Clyde & Co’s Insurance Growth Report mid-year update.
NOAA Forecasters Increase Atlantic Hurricane Season Prediction to ‘Above Normal’
Scientists at NOAA’s Climate Prediction Center have increased their prediction for the ongoing 2023 Atlantic hurricane season from a near-normal level of activity to an above-normal level of activity with today’s update.
Cruise, Waymo Get Approval to Expand Driverless Vehicles in San Francisco
The California Public Utilities Commission, which regulates passenger transportation, voted on Thursday to allow Cruise, majority owned by General Motors and Waymo, part of Google parent Alphabet, to deploy more vehicles in San Francisco and to start charging for rides at all times.
Tutoring Firm Settles EEOC’s First Bias Lawsuit Involving AI Software
A China-based tutoring company has agreed to settle a U.S. government agency’s novel lawsuit claiming it used hiring software powered by artificial intelligence to illegally weed out older job applicants.
Severe Thunderstorms Account for Up to 70% of All Insured Natural Catastrophe Losses in H1 2023: Swiss Re
A series of widespread thunderstorms (severe convective storms) hit the US and account for 68% of global insured natural catastrophe losses in the first half of 2023, highlighting the increasing loss impacts of secondary perils.