Oklahoma Employer Ordered to Pay $72,000 for Misclassifying Retail Workers and Denying Overtime

An Oklahoma employer must pay $72,000 in back wages and damages after misusing an agricultural exemption to avoid paying overtime to 20 retail employees across multiple locations.
December 3, 2024 Legislation & Regulation Litigation Risk Management Workers' Compensation Missouri Oklahoma Texas

AI Tool Creates Accurate Satellite Images Predicting Floods

MIT researchers combine generative AI and physics models to create realistic satellite images of future floods, enhancing readiness and emergency planning.
December 2, 2024 Catastrophe Insurance Industry Risk Management Technology Texas

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

Rising Climate Risks Drive 13% of US Homebuyers to Consider Moving

Concerns about natural disasters and climate risks are influencing 13.7% of US homebuyers to relocate, with low-risk areas seeing faster home value growth for the first time since 2010.
November 22, 2024 Catastrophe Insurance Industry Property Risk Management California Florida Texas

AI Weather Models Prove Effective During Hurricane Season

AI-powered weather models, like Google DeepMind’s GraphCast, are transforming hurricane forecasting, demonstrating enhanced accuracy and speed compared to traditional physics-based methods.
November 20, 2024 Catastrophe Insurance Industry Risk Management Technology Louisiana Texas

Rising Roof Claims Challenge Insurers Amid Severe Weather and Roofing Scams

Severe weather, inflation, and roofing scams are driving a surge in roof-related insurance claims, forcing the industry to adjust coverage and policy conditions to manage risks.
November 18, 2024 Catastrophe Fraud Insurance Industry Property Texas

Flood Insurance Gaps Highlighted by Hurricane Helene’s Impact

The devastation caused by Hurricane Helene sheds light on the widespread lack of flood insurance, revealing critical challenges in accessibility, affordability, and risk awareness.
November 18, 2024 Legislation & Regulation Property Risk Management Florida Louisiana Texas

AI Revolutionizes Hurricane Forecasting with Unprecedented Accuracy

AI weather models like GraphCast demonstrated remarkable accuracy during this hurricane season, outperforming traditional models in predicting storm tracks but facing challenges with intensity forecasting.
November 15, 2024 Catastrophe Risk Management Technology Louisiana Texas

Hailstorms Drive Record Insurance Losses as Experts Push for Better Detection and Prediction

Severe hailstorms in the U.S. have led to record insurance losses, with hail damage growing due to rising urbanization, climate change, and frequent severe convective storms. Enhanced monitoring projects promise insights to mitigate future risks.
November 5, 2024 Catastrophe Insurance Industry Risk Management Technology Colorado Texas

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

Catastrophe Bond Investors Dodge Severe Losses Following Hurricane Milton

After Hurricane Milton weakened before landfall, investors in catastrophe bonds are facing losses well below earlier estimates, with single-digit hits predicted instead of the feared 15%.
October 11, 2024 Catastrophe Insurance Industry Property Risk Management Florida Texas

Dockworkers Reach Tentative Deal, Strike Suspended Until January

U.S. dockworkers have suspended their strike after reaching a tentative agreement with terminal operators, securing a wage increase and agreeing to continue negotiations in January.
October 4, 2024 Legislation & Regulation Litigation Risk Management Alabama Florida Georgia Louisiana Maryland

Solar Energy Growth Sparks Surge in Construction Claims

The rapid growth of solar energy is driving an increase in construction-defect claims, as industry experts highlight risks such as fire, environmental concerns, and insurance coverage issues.
October 4, 2024 Insurance Industry Legislation & Regulation Property Risk Management Arizona California Colorado Florida Texas

Tennessee School District Duped Out of $3.4 Million in Curriculum Vendor Scam

A rural Tennessee school district was swindled out of over $3 million when a finance officer unknowingly wired funds to a fraudster impersonating a legitimate curriculum vendor, part of a growing wave of email scams targeting schools.
October 1, 2024 Education & Training Fraud Litigation Technology Arizona Ohio Tennessee Texas

Homeowners Insurance Costs Surge Across the U.S., Florida Takes the Lead with Soaring Rates

Homeowners across the U.S. are facing sharp insurance premium hikes, with Florida seeing the steepest increases, fueled by hurricane risks, fraud, and lack of competition.
September 18, 2024 Catastrophe Litigation Property Risk Management Florida Louisiana Texas
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