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News
Musk's Cursor AI used in Russia linked hit on seven firms as insurers race to rewrite cyber cover
5+ hour, 5+ min ago (308+ words) A Russian-speaking ransomware crew has spent the past few months proving a point insurers have been nervously debating all year: an AI agent can be talked into causing real damage without anyone technically "hacking" anything in the traditional sense. According…...
Insurers race into ChatGPT while agent rules stay silent
7+ hour, 2+ min ago (722+ words) A licensed carrier just began writing new business through a platform it doesn't own, doesn't fully control, and can't govern the way it governs its own website, and the industry still hasn't worked out what that means for the agent…...
EPIC taps industry veteran to lead employee benefits nationally
4+ day, 9+ hour ago (400+ words) EPIC Insurance Brokers & Consultants has promoted Adam Okun (pictured) to president of its national employee benefits practice. The move puts pharmacy consulting at the center of the firm's strategy heading into one of the costliest benefits renewal cycles in years....
Chiba flooding exposes Japan’s stagnant auto insurance enrolment gap
14+ hour, 31+ min ago (713+ words) Insurance Business Chiba flooding exposes Japan’s stagnant auto insurance enrolment gap Half of Japan's drivers hold no physical damage cover. Chiba Prefecture's 50.5% voluntary motor enrolment rate left roughly 1,250 of the 2,500 abandoned vehicles on municipal roads uninsured A record rainfall event…...
Connecticut health insurers seek second year of double-digit premium hikes
1+ day, 2+ hour ago (517+ words) Connecticut health insurers are asking for another round of double-digit premium increases. For benefits brokers advising small businesses in the state, and in any other ACA marketplace state facing the same cost pressures, the outcome of the September rate decision…...
Defect definition gaps expose BESS brokers to silent claims risk
19+ hour, 32+ min ago (855+ words) Insurance Business Defect definition gaps expose BESS brokers to silent claims risk A structural mismatch between project contracts and insurance wordings means real failures can fall through the cracks undetected Australian insurance brokers placing cover for battery energy storage systems…...
Brokers move beyond price as commercial property risk evolves
1+ day, 29+ min ago (674+ words) Commercial property is no longer just bricks, steel and a lease agreement. Warehouses are increasingly used for fulfilment, offices operate around hybrid working patterns and factories can run unattended overnight. For brokers, that means understanding a property risk increasingly depends…...
Record motor profit masks a claims trend brokers cannot ignore
22+ hour, 6+ min ago (649+ words) Insurance Business Record motor profit masks a claims trend brokers cannot ignore Net claims incurred in Australian domestic motor rose 22% in two years. New Youi research identifies a predictable afternoon incident window driven by fatigue, time pressure and overconfidence. For…...
PEI storm floods streets, hits hospital, no damage estimate yet
1+ day, 7+ hour ago (404+ words) A fast-moving storm swept across central and eastern Prince Edward Island Wednesday afternoon, bringing high winds, hail, heavy rain and a suspected tornado near Souris. The storm hit Charlottetown around 1:40 p.m., knocking out power to thousands of Maritime Electric customers and…...
Employee benefits fraud probe targets New York deferred comp provider
1+ day, 23+ hour ago (397+ words) Albany County, New York, officials have launched a fraud investigation into a deferred compensation plan provider after hundreds of county employees found their pre-tax employee benefits cards declined - and law enforcement agencies across the state are now involved. As reported…...