According to IBM’s annual Data Breach report, the average cost of a data breach has reached an all-time worldwide high of $4.45 million, up 2.3% from 2022 and 15.3% since 2020.
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Oppenheimer Sued by More Investors for Losses in a $120M Ponzi Scheme
A lawsuit filed by 30 North Carolina residents has accused New York-based brokerage and investment bank Oppenheimer & Co. and two of its Atlanta-based managers of hiding the truth about a massive Ponzi scheme being run by its employees.
Severe Convective Storms Drive Above-Average 1H Catastrophe Losses
The first 6 months of 2023 saw above-average natural catastrophe losses, with many of those losses the result of severe convective storms, according to multiple analyses of first-half catastrophe activity.
1891 Financial Life Named One of the “World’s Best Life Insurance Companies” by Forbes
1891 Financial was named among the world’s best life insurance companies by Forbes.
Farmers Insurance Reverses Course on Homeowners Nonrenewals in Georgia
Farmers has reversed its decision to non-renew homeowners policies in Georgia, with no policyholders impacted at this time.
Facing Big Storm Losses, Insurers Aim to Boost Rates
A wave of severe storms that brought hail and high winds to places such as Texas and a string of states in the central U.S. in recent months is wreaking havoc on insurers’ profits.
Auto Insurance: The Uncertain Road Ahead
A new study “Auto Insurance: The Uncertain Road Ahead” released today by the American Property Casualty Insurance Association (APCIA), reveals that insurance claims inflation has continued to rise faster than the underlying consumer price index (CPI), far outpacing increases in auto insurance premiums.
Trusted Choice® Launches Hard Market Toolkit
After an extended period of low premiums and abundant capacity, we are now in the midst of a hard insurance market.
Booz Allen Hamilton to Pay $377.4M to Settle U.S. Charges Over Past Billing Practices
U.S.-based consulting firm Booz Allen Hamilton Holding agreed to pay the United States $377.4 million to resolve allegations of violating federal law by improperly billing commercial and international costs to its government contracts, the Justice Department said.
Workers Lack Protections When Wildfire Smoke Makes the Air Dangerous
Millions of American workers have breathed in dangerous levels of air pollution this year as smoke from Canada’s record wildfire season blankets cities across the Northeast.