Industry News

Industry Roundup: ​3 Unintended Consequences of Well-Intentioned Cyber Regulations; Autonomous Vehicles: Predictions vs. Truth; North Atlantic Hurricane Season Begins with Ripe Conditions for Above-Average Activity; Acrisure Touches $23B in Valuation

​​3 Unintended Consequences of Well-Intentioned Cyber RegulationsPolicymakers worldwide are stepping up efforts to create cyber regulations that can help mitigate and boost society's resilience against these threats and assert control over how some technological innovations are used.    Autonomous Vehicles: Predictions vs. TruthThe cause of most accidents is human error; distracted driving, speeding, drunk driving and reckless driving are the top four causes of accidents. If we could eliminate these and other driver-related factors, the number of accidents would significantly drop.North Atlantic Hurricane Season Begins with Ripe Conditions for Above-Average ActivityThe pre-season forecast update for North Atlantic hurricane activity continues to forecast 18 named storms, eight hurricanes…

Continue ReadingIndustry Roundup: ​3 Unintended Consequences of Well-Intentioned Cyber Regulations; Autonomous Vehicles: Predictions vs. Truth; North Atlantic Hurricane Season Begins with Ripe Conditions for Above-Average Activity; Acrisure Touches $23B in Valuation

Industry News: Insurers Raise Cyber Rates Significantly Amid Costly Losses; A New Generation of Independent Agents Calls for New Hiring Tactics; U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005

​Is That 18-Year-Old Driving Your Commercial Truck?Driver shortages have led to trucking companies exploring options to recruit new drivers, but is lowering the age requirement the best option?Tesla Bets It Can Bring Down Insurance Costs, Make Driving SaferTesla Insurance is offering comprehensive coverage and claim management for Tesla owners in select U.S. states, with additional states coming in the future and says they can do it cheaper.New York Accuses Amazon of Discriminating Against Pregnant and Disabled WorkersThe New York State Division of Human Rights has filed a complaint against Amazon.com Inc. accusing the online retailer of discriminating against pregnant and disabled workers.Insurers Raise Cyber Rates…

Continue ReadingIndustry News: Insurers Raise Cyber Rates Significantly Amid Costly Losses; A New Generation of Independent Agents Calls for New Hiring Tactics; U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005

Industry Roundup: Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1

​Court Says Federal Law Preempts, Tosses New York Suit Over Amazon Worker SafetyA New York state appeals court on Tuesday dismissed state Attorney General Letitia James' lawsuit accusing Amazon.com Inc. of failing to adequately protect thousands of workers at two New York City facilities against COVID-19.Munich Re Writes Down $740M Bonds Over War in UkraineMunich Re incurred steep losses on Russian and Ukrainian bonds in its investment portfolio and warned of risks to its outlook from the conflict between the two countries, along with volatile markets and the pandemic.Claims Frequency Up for 2021, but Workers' Comp Profitability 'Unprecedented'For the first time in more than a…

Continue ReadingIndustry Roundup: Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1