Hurricane Would Blow Through Florida Cat Fund’s Reserves. But That May be OK, Report Says August 1, 2024 By William Rabb A report from Moody’s Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund’s...
CrowdStrike Sued by Shareholders Over Huge Software Outage August 1, 2024 By Jonathan Stempel CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing...
Moody’s Eyes Downstream Impact of CrowdStrike Disruption on Cyber Insurance July 31, 2024 Most losses from the CrowdStrike outage will be business interruption, a primary contributor to losses from cyber incidents—and because the...
AM Best: Migration to Cat-Prone States Fueled Record HO Underwriting Losses in 2023 July 31, 2024 The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in...
AccuWeather: Tropical Threat Developing in Atlantic Could be Next Named Storm July 30, 2024 Debby could be the next name most frequently out of the mouths of hurricane watchers and emergency responders. Meteorologists tracking...
California Wildfire Has Burned 599 Square Miles, Destroyed 165 Structures July 30, 2024 Containment has increased on a fire that exploded in size and in a few days became California’s sixth largest wildfire,...
U.S. Coastal Communities Get $575M to Guard Against Floods, Other Climate Disasters July 30, 2024 By Wayne Parry The federal government is giving more than a half-billion dollars to coastal communities to help them use nature-based preventative measures...
California Wildfire Grows to 575 Square Miles, Destroying at Least 100 Structures July 29, 2024 At least 100 structures have been destroyed and roughly 4,200 more are being threatened by the Park Fire, near Chico,...
Bridging the Flood Insurance Gap – A Call to Action July 29, 2024 By Trevor Burgess Hurricane Beryl caused destruction and loss across Texas and throughout the middle of the country, reminding us, once again, of...
Insured Losses From Crowdstrike Outage Could Reach $1.5B, Cybercube Says July 26, 2024 By Carolyn Cohn Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber...