Eli Flesch

Ransomware attacks have been increasing in recent years, while the market for cyberinsurance is growing and becoming more competitive, said a cyberinsurance expert at a media briefing from the American Academy of Actuaries on Thursday.

Ransomware attacks have been increasing in recent years, while the market for cyberinsurance is growing and becoming more competitive, said a cyberinsurance expert at a media briefing from the American Academy of Actuaries on Thursday.

In suing State Farm for homeowners insurance data, the state of Illinois is taking an approach to regulating carriers with transparency in mind that could be replicated elsewhere, but lowering climate-influenced costs will be a challenge, experts said.

Travelers is seeking to recoup around $1 million in costs from a shipping logistics company that it says failed to verify to whom it was providing a shipment of cameras, resulting in their theft, according to a complaint filed in California federal court.

Private flood insurance executives see a market opportunity for a growing sector of the property and casualty industry as the National Flood Insurance Program remains restricted in its ability to renew or sell flood coverage amid the government shutdown.

A panel of Sixth Circuit judges upheld the class certification of a suit alleging State Farm systematically undervalues totaled vehicles, saying that a class of Tennessee insureds were linked by a common alleged harm of breach of contract. 

Ongoing efforts in Canada to develop a national flood insurance program should prioritize coverage for high-risk properties and accompany endeavors to lower flood risk in a country that is experiencing more destruction from natural catastrophes, experts say.

Politicians and business leaders at this year’s Climate Week in New York City are emphasizing that climate change is posing huge challenges for people struggling with high insurance premiums, but opportunity still exists for the industry in a green transition. Here, Law360 looks at just a few of the happenings this year at the weeklong conference.

A recently approved California bill supporting the development of a public fire risk model could help boost transparency around methods insurers use to make coverage decisions, while advancing a complicated field of study full of uncertainties, experts say.

Hurricane Katrina's landfall in New Orleans 20 years ago was an unprecedented catastrophe that resulted in financial consequences and insurance lessons that are more relevant today than ever, as fossil fuel-induced climate change promises more intense storms, experts say.