As the insurance sector continues to embrace technological advancements, it finds itself at the crossroads of leveraging digital solutions and confronting associated cyberthreats. Insurance agencies and companies hold vast amounts of sensitive information, from...
Halloween is almost here, and with it, everything that makes the holiday so special. There’s the chilly fall air, and it seems as though there’s the grinning jack-o-lanterns posted at every door. Elaborate decorations and haunted houses are a fixture of Hallows’ Eve,...
The summer of ’23 has brought disastrous weather events in almost every region of the country. The Northeast faced record-breaking flooding. Vermont received two months’ worth of rain—more than nine inches—in just a few days. More than 4,000 homes were damaged by...
When the market hardens, insurance carriers often will attempt to reduce their expenses and exposures in a variety of ways. Sometimes, those ways are overt like nonrenewing policies or filing for rate increases. Other times, the cost-cutting moves can be more covert...
In 1998, a new technology was introduced that promised to have major implications for many industries, chief among them the insurance industry. This technology allowed systems to monitor and collect data about a user’s behavior in real time. Today, many of us use...
The New York State Department of Financial Services published a revised proposed second amendment to 23 NYCRR 500—colloquially referred to as New York’s cyber security regulation. The publication of the revised second amendment comes over six months after the...
For decades, wildfires have been synonymous with California, as the Golden State has experienced some of the most devastating wildfires in our nation’s history. However, in recent years, wildfires have extended past California and now threaten other regions within the...
Summer is officially here, which means wedding season for many individuals across the country. But with the average couple spending about $30,000 on their special day, insurance professionals can help to offer peace of mind to their clients by discussing the security insurance provides if something goes wrong. Special event coverage, otherwise known as wedding […]
The rise of artificial intelligence has changed our world completely—sparking impressive advancements and opening doors to countless possibilities. Yet, as we continue in this AI-centric era, we need to be prepared for the unexpected pitfalls it might bring—especially...
With climate change set to raise the temperature of the planet dramatically, the frequency of natural disasters is increasing. The insurance industry is struggling to keep up with skyrocketing homeowners insurance claims. For example, drought conditions in California...