Senate Report Blames Climate Change for Insurance Challenges as Industry Pushes Back
The Senate Budget Committee attributes rising non-renewal rates to climate change, but insurance experts highlight other drivers like inflation, litigation, and overbuilding.
December 19, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
California
Florida
Hawaii
Louisiana
Massachusetts
Millions of Homeowners Risk Being Underinsured for Detached Structures
AI-based analysis reveals nearly half of U.S. properties have overlooked secondary structures, highlighting risks for homeowners and insurers alike.
December 19, 2024
Property
Risk Management
Technology
Underwriting
California
Georgia
Montana
North Carolina
Rhode Island
NC Supreme Court Rules COVID Shutdowns Caused Physical Loss for Restaurants
The North Carolina Supreme Court diverged from most courts, finding that COVID-19 shutdowns constituted direct physical loss for restaurants under certain insurance policies.
December 18, 2024
Insurance Industry
Legislation & Regulation
Litigation
Property
New Hampshire
North Carolina
Sodium-Ion Batteries: A New Player in Energy Storage
Sodium-ion batteries offer a more affordable and eco-friendly alternative to lithium-ion technology, with potential applications in energy storage despite size limitations.
December 10, 2024
Property
Risk Management
Technology
North Carolina
Teen Arrested in Scattered Spider Cybercrime Case Linked to Telecom and Crypto Hacks
Authorities have arrested a teenager linked to the Scattered Spider gang, accusing them of hacking financial and telecom firms and launching phishing campaigns targeting employees and customers.
December 9, 2024
Fraud
Litigation
Risk Management
Technology
Florida
North Carolina
Texas
Florida Matches Record Hurricane Landfalls in 2024, Reports Howden Re
The 2024 Atlantic hurricane season, marked by record Florida landfalls and extreme storm activity, ranks among the most impactful in recent history, Howden Re reports.
December 5, 2024
Catastrophe
Property
Risk Management
Technology
Florida
North Carolina
Tennessee
North Carolina Woman Charged with Filing False Insurance Claim
A Greensboro woman faces charges for allegedly filing a $49,000 claim for pre-existing damage to her late mother’s home, using her mother’s identity to obtain the policy.
December 3, 2024
Fraud
Insurance Industry
Litigation
Property
North Carolina
Record-Breaking 2024 Hurricane Season Ends with $50 Billion in Insured Losses
The 2024 Atlantic hurricane season, ending with 18 named storms, saw record-breaking storms, including Hurricane Milton, which inflicted billions in insured losses across the U.S.
December 2, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Florida
Georgia
Louisiana
North Carolina
South Carolina
North Carolina Insurance Agent Faces Charges for Forgery and Embezzlement
A North Carolina insurance agent faces embezzlement charges after allegedly taking premiums without securing policies, following a history of regulatory penalties and surrendered licenses.
November 14, 2024
Fraud
Insurance Industry
Legislation & Regulation
Liability
North Carolina
New Climate Research Reveals Worsening Global Conditions in 2024
As COP29 unfolds in a year of record-high temperatures, new research reveals accelerating climate effects, from supercharged storms and wildfire deaths to a slowing Atlantic current, raising concerns about a range of tipping points.
November 14, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
North Carolina
Rising Inland Flood Risk Demands Urgent Attention in U.S.
The Insurance Information Institute’s latest report highlights the increasing flood risks faced by inland areas due to shifting weather patterns. Hurricanes, tropical storms, and thunderstorms are pushing the boundaries of flood-prone regions, underscoring the need for better insurance coverage, flood resilience, and mitigation strategies to bridge the protection gap in non-coastal communities.
November 14, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Georgia
Kentucky
New Jersey
New York
Florida Hurricane Damage Claims Reach $4.775 Billion After Hurricanes Helene and Milton
Insurance claims in Florida from Hurricanes Helene and Milton have reached $4.775 billion, up $169 million from last week’s total. The storms have left extensive residential and commercial property damage, according to the Office of Insurance Regulation.
November 12, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Property
Florida
Georgia
North Carolina
South Carolina
Tennessee
Texas A&M Research Links Climate Change to Increased Hurricane Rainfall in the Southeast
A Texas A&M study shows a nearly 20% increase in extreme rainfall during storms like Hurricane Helene, linking climate change to intensified flooding risks across the southeastern United States.
October 28, 2024
Catastrophe
Property
Risk Management
Florida
Georgia
North Carolina
Texas
Widespread Flooding from Hurricane Helene Spotlights Inland Insurance Gaps
The devastation from Hurricane Helene reveals a significant inland flood-protection gap, particularly in flood-prone communities without sufficient insurance coverage, where misinformation and funding challenges further slow recovery efforts.
October 28, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
Florida
Georgia
Kentucky
New Jersey
New York
Workers’ Comp Ghost Policies Are Increasing Risks for Small Businesses
Ghost policies, a type of fraudulent workers’ comp coverage, are leaving businesses and employees exposed to high risks, especially in states where such policies remain legal.
October 21, 2024
Fraud
Legislation & Regulation
Risk Management
Workers' Compensation
Colorado
North Carolina
