Industry News
Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-year Update, ...
Repeat of 1/1/2023 Reinsurance Hikes Unlikely As Reinsurers Take Milton Hit
Reinsurers will have some meaningful losses from Hurricane Milton but a replay of the shocking price hikes cedents experienced during Jan. 1, 2023 renewals isn't likely to repeat for 2025, Fitch ...
Geopolitical Conflict Could Cost Global Economy $14.5 Trillion Over 5 Years: Lloyd’s
The global economy could be exposed to losses of $14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns ...
Hurricane Milton Spawns Tornadoes, Leaves Millions Without Power in Florida
Hurricane Milton marched across Florida on Thursday, whipping up deadly tornadoes, destroying homes and knocking out power to more than 3 million customers, but the Tampa Bay metropolitan area ...
Hurricane Milton Has Reshaped Storm Science Even Before Making Landfall
Long after the winds subside and the hard work of rebuilding begins, scientists responsible for predicting hurricanes will continue to replay Hurricane Milton over and over again. They'll focus on ...
Court Orders Start to Expose ‘Startling’ Data on Litigation Funding Sources
There is no federal law that requires the disclosure of litigation funding agreements in court cases, but some disturbing insight has been found in individual jurisdictions that have rules to ...
Small Track Changes Drive $70B+ Swing in Milton Insured Loss Estimates
Insured losses from Hurricane Milton could sit anywhere within a $70-plus-billion range extending from $9 billion to $85 billion, experts from CoreLogic said yesterday afternoon, at least nine hours ...
Federal Flood Maps Are No Match for Florida’s Double Hurricane
Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast U.S., it's already clear that federal flood-risk maps underpinning decisions by millions of American ...