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Lawsuits over how businesses collect and use data have surged, driven largely by aggressive plaintiff’s attorneys leveraging decades-old privacy laws in modern contexts.

Although the NYDFS Cyber Regulations may not apply directly to your business, independent insurance agencies operating in other jurisdictions could still see impacts.

The guidance was set to take effect on June 1 and would have required mortgagors to acquire replacement cost value coverage for their property, including roofs, deeming actual cash value unacceptable.

AM Best downgraded 32 property & casualty companies’ credit ratings in the first half of 2023, including 21 personal lines insurers.

In the current hard market environment, independent agents are proactively shopping ahead for their clients more than they have in the past.

The global average breach cost reached $4.45 million, with detection and escalation the most expensive component—indicating a shift toward more extended and complex investigations.