Cover Story
DFS Issues Circular Letter Addressing Cybersecurity Risks Related to AI
On October 16, the New York Department of Financial Services (DFS) issued a circular letter addressing cybersecurity risks related to the increasing use of artificial intelligence (AI) in relation to insurers, insurance professionals, and banks. These entities must abide by cyberattack regulations, but those regulations have not included any specific requirements related to AI. Although […]
In This Issue...
Porsche IS Driven
Like many of our readers, I am a Porsche owner (2013 Cayenne, with a stick- unique) but I am not a Porsche insured. The news is tempting, however, but not yet in tri-State area . Porsche Auto Insurance (PAI), has launched a new Unlimited insurance product designed for Porsche owners who drive over 10,000 miles […]
DFS Issues Circular Letter Addressing Cybersecurity Risks Related to AI
On October 16, the New York Department of Financial Services (DFS) issued a circular letter addressing cybersecurity risks related to the increasing use of artificial intelligence (AI) in relation to insurers, insurance professionals, and banks. These entities must abide by cyberattack regulations, but those regulations have not included any specific requirements related to AI. Although […]
Friedlander Group Announces 50% Dividend for Financial Services Safety Group Members
50% Dividend Paid to Financial Services Group of New York Workers’ Compensation Group #558 $740 Million in Total Workers’ Compensation Savings Since 1992 $414 Million in Dividends Paid to Friedlander Group Clients Purchase, NY – Friedlander Group, Inc., manager of the Financial Services Group Workers’ Compensation Safety Group #558, has announced a 50% dividend for […]
Cornerstone Financing announces $285 million financing from Aquiline and Nomura
Investment backs CHEIFS, a new funding solution converting home equity into advisor-driven financial solutions Bloomfield, NJ, October 29, 2024 – Cornerstone Financing, an insurance and investment funding company, has secured $285 million in aggregate financing through global finance investment firms Aquiline Capital Partners LP (“Aquiline”) and Nomura. The financing supports the expansion of CHEIFS (Cornerstone Home […]
AmTrust 2024 Restaurant Risk Report Finds Spinal Injuries Inch Toward Six Figure Payouts, And Are on the Rise
As restaurant workers become part of the delivery economy, spinal injuries become more prominent NEW YORK – AmTrust Financial Services, Inc., a global specialty property casualty insurer,has released the 2024 AmTrust Restaurant Risk Report, which identifies the most common and costly injuries in the restaurant industry in the United States. In a review of nearly […]
Candle Safety
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE, CLP-A – Senior Vice President Nothing says romance like a candlelit dinner, and there is not a much more festive setting than a home filled with aromatic candles. However, candles pose a significant fire hazard to your insureds. Helping clients understand and manage the risks of […]
Donegal Insurance Group to Benefit from ZestyAI’s Roof Age Solution
New AI-Powered Solution Enhances Property Risk Assessment by Accurately Determining Roof Age Across the Contiguous US MARIETTA, PA – ZestyAI, the leading provider of climate and property risk analytics solutions powered by Artificial Intelligence (AI), has announced tits partnership with Donegal Insurance Group® on a project that utilizes its new Roof Age solution for Donegal’s existing Personal […]
The Big ‘I’ Announces Progressive Insurance® Donation to the Trusted Choice® Relief Fund
Disaster-affected agencies are encouraged to apply for assistance. ALEXANDRIA, VA – The Independent Insurance Agents & Brokers of America (the Big “I”) has announced that Progressive Insurance has donated $800,000 to the Trusted Choice Relief Fund, furthering efforts to support independent insurance agents, brokers and other insurance professionals impacted by disasters including floods, hurricanes and wildfires. Since its inception […]
Medical Liability Monitor Applauds Pennsylvania Lawmakers for Taking Bold Action to Address Medical Liability Crisis
Chicago, IL — Medical Liability Monitor (MLM), the monthly publication reporting on the medical professional liability insurance industry, commended Pennsylvania lawmakers for introducing a consequential package of tort reform bills aimed at tackling the commonwealth’s ongoing medical liability crisis in its current issue. These reforms come at a crucial time, MLM reports, as Pennsylvania’s legal […]
Policy Wording Must Limit Appraisal to Quantum Only
USDC Concludes Appraisal Can Consider Causation in Ohio Defendant State Farm Fire and Casualty Company (“State Farm”) issued a homeowners insurance policy to Plaintiff Sharon Marie Rogers (“Rogers”). State Farm determined the amount of loss to be $3,490.68, which was less than Rogers’ deductible. Insurance Adjusting Services West Penn; West Penn determined the amount of […]
