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Insurtechs’ Approach to Wildfire Insurance: Part III – Faura
While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …
POSTED JANUARY 23, 2025 6:09 AM |
Does Florida’s 15-year Roof Age Rule Discourage More Wind-Resistant Products?
After Hurricane Milton swept through parts of southwestern Florida in October, aerial drone images showed condominium buildings with large sections of their roof membranes peeled back like blankets on a beach, exposing the buildings to water intrusion. Builders and commercial …
POSTED JANUARY 23, 2025 6:01 AM |
People Moves: Washington Insurance Commissioner Kuderer Adds to Executive Staff
Washington State Insurance Commissioner Patty Kuderer made six additions to her executive team. Kuderer was sworn in as the state’s ninth insurance commissioner on January 15. She replaces Washington Commissioner of Insurance Mike Kreidler, the nation’s longest serving insurance commissioner. …
POSTED JANUARY 23, 2025 6:00 AM |
Fire-Damaged Cannabis Grower Loses $1.3 Million Business Income Loss Claim
A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A federal …
POSTED JANUARY 23, 2025 6:00 AM |
Ash Left Behind by LA Wildfires Might Be Toxic, Experts Warn
Toni Boucher threw up the first time she saw the charred remains of her home and neighborhood after this month’s deadly Los Angeles-area wildfires. Now she wonders if it’s worth it to go back to sift through the ashes and …
POSTED JANUARY 23, 2025 6:00 AM |
Crown Stolen from Virgin Mary Statue at Philadelphia Church
A man broke into a Philadelphia church and stole a 125-year-old bejeweled crown from atop a marble statue of the Virgin Mary, city police said earlu this week.. The burglary at St. John the Evangelist Roman Catholic Church occurred around …
POSTED JANUARY 23, 2025 6:00 AM |
Microsoft’s LinkedIn Sued for Disclosing Customer Information to Train AI Models
Microsoft’s LinkedIn has been sued by Premium customers who said the business-focused social media platform disclosed their private messages to third parties without permission to train generative artificial intelligence models. According to a proposed class action filed on Tuesday night …
POSTED JANUARY 22, 2025 9:38 PM |
Flow Specialty Says Its AI Agent Passed RPLU Exams
Specialty wholesaler Flow Specialty said its artificial intelligence model has passed the Registered Professional Liability Underwriter (RPLU) exams for cyber, errors & omissions, and executive liability modules. “For far too long, the middle market segment of specialty business has been …
POSTED JANUARY 22, 2025 5:24 PM |
South Dakota Bill to Protect Farms From Spying Could Limit Access to Data
Proposed legislation aimed at protecting South Dakota farmers from potential “agro-terrorism” activities could have a secondary effect of limiting access to some information about the state’s largest animal feeding operations. Senate Bill 14 seeks to strengthen a set of existing …
POSTED JANUARY 22, 2025 5:22 PM |
Highstreet Acquires Missouri’s Siebert Agency
Highstreet Insurance Partners announced its acquisition of Siebert Agency Ltd, and its sister companies Russ Siebert Insurance and Mary Siebert Insurance Agency (collectively, “Siebert Insurance”). The terms of the transaction were not disclosed. Under the leadership of Bill Siebert, his …
POSTED JANUARY 22, 2025 5:14 PM |
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