In September, Gov. Gavin Newsom issued an executive order for “prompt regulatory action” to address the plight of California homeowners facing availability and affordability problems for home insurance; however, help may not arrive until 2026.
HNW Insurance Market Notes - November 2023
THE THREAT OF RANSOMWARE: STAY VIGILANT
A new report by Allianz Insurance shows a “worrying resurgence” in ransomware and extortion claims in 2023 with most Ransomware attacks involving the theft of personal or sensitive commercial data for the purposes of extortion.
FROZEN PIPES
More than half of the U.S. and parts of Canada, home to around 180 million people, could fall short of electricity during extreme cold again this winter due to lacking natural gas infrastructure, the North American Electric Reliability Corp (NERC) said on Wednesday.