Claims / Legal
2020 Cyber Insurance Claims Spike Counteracted Premium Jump, Hurting Underwriting Results
Cyber insurance premiums are soaring, but a spike in claims led to a decline in 2020 underwriting performance, according to a new Fitch Ratings update. Standalone cyber insurance generated an ...
Congress Is Exploring the Idea of Federal Reinsurance for Cyber-Terrorist Attacks
A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup provided by the federal Terrorism Risk Insurance Program (TRIP) is adequate for ...
U.S. Pledges to Boost Pipeline Cyber Protections After Colonial Hack Attack
The Biden administration is working with pipeline companies to strengthen protections against cyberattacks following the Colonial Pipeline hack, with announcements of actions planned in coming days, ...
Digital Payment Platform Verituity Raises $10M; Has Insurance Claims Potential
Digital payments platform startup Verituity raised $10 million in new investment to help fuel a customer expansion in multiple sectors including banking and insurance. Plans will also focus on ...
Swiss Re Warns Canada Is Unprepared for Climate Change-Spurred Hurricane Risks
Climate change is making hurricanes bigger and stronger, and it may soon push them farther north. Yet Canada's homeowners, businesses and insurers underestimate that escalating risk, according to one ...
Conti Ransomware Gang Has Struck 16 U.S. Health and Emergency Networks: FBI
The Federal Bureau of Investigation said that the same group of online extortionists blamed for striking the Irish health system last week have also hit at least 16 U.S. medical and first response ...
Commercial Auto Tort Reform Bill Passes in Texas Senate
A bill that proponents say will help control abusive lawsuits against commercial motor vehicle operators following accidents has passed the Texas Senate. House Bill 19 would have a big impact on the ...
Self-Driving Car Legislation Held Up in Senate Over Liability Concerns
A debate over who to blame — or sue — when a self-driven car hits someone is holding up legislation the industry says it needs to advance. "If another driver hits you, it's clear who the driver ...