Industry News

Administration's COVID-19 Vaccine Mandate for Large Employers Moves Closer to ApprovalThe Labor Department signaled that it is close to acting on President Biden's plan to require private-sector workers get Covid-19 vaccinations or be regularly tested, a move that has drawn a mixed reaction from larger and smaller companies.Hidden Cyber Risk in US Property Insurance Has $12.5 Billion Loss Potential A new study jointly conducted by CyberCube, AM Best and Aon has warned that cyber risk accumulating in the US property insurance market could lead to staggering losses of about $12.5 billion.Exploitable Application Flaws Increase Cyber RisksIn March 2021, Microsoft announced it had detected four vulnerabilities…

​Auto Insurers Face Mounting Claims Costs Post-PandemicSurging vehicle repair and replacement costs will significantly slash underwriting margins of the country's car and truck insurance providers as claims rebound to pre-pandemic levels, a new report by market intelligence firm S&P Global has revealed.Ban On 'Surprise' Medical Bills Remains on TrackThe Biden administration on Thursday put final touches on consumer protections against so-called “surprise" medical bills. The ban on charges that hit insured patients at some of life's most vulnerable moments is on track to take effect Jan. 1.Employees May Not Be Working Inside Office Buildings, But Cyber Criminals AreThe normal bustle inside of many office buildings…

​<a title="Michael M Stokes, CC BY 2.0 , via Wikimedia Commons" href="https://commons.wikimedia.org/wiki/File:Ida_Flooding_%2824%29.jpg"> ​Congress yesterday approved an emergency measure to keep the National Flood Insurance Program (NFIP) from shutting down. Those of you who write flood insurance policies through the Big "I"'s Flood Program should be able to continue to do so at least until Dec. 3. ​The program, which Congress authorizes on a temporary basis, was scheduled to run out of authority on Sept. 30, 2021. The NFIP's extension was included in a larger bill to fund the federal government, which also would have shut down in the absence of congressional action. President Biden signed it into law…