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Jul 14
Industry Roundup: ​U.S. Active Shooting Insurance Rates Jump as Incidents Rise; NHTSA Plans New Push Against Speeding; Independent Agency Customer Platform GloveBox Raises $5.5 Million; Businesses Should Prepare for Increased Data Surveillance

U.S. Active Shooting Insurance Rates Jump as Incidents Rise

According to insurers, the cost of purchasing insurance against mass shootings has increased by more than tenfold in the United States this year as a result of a string of deadly events.

 

The Next Frontier for Drones: Letting Them Fly Out of Sight

Aviation authorities in the U.S. and elsewhere are preparing to relax some of the safeguards they imposed to regulate a boom in off-the-shelf consumer drones over the past decade.

 

NHTSA Plans New Push Against Speeding

The head of National Highway Traffic Safety Administration (NHTSA) said on Wednesday the agency plans a new push to convince Americans to stop speeding, hoping to reduce traffic deaths which have risen sharply in recent years.

 

Independent Agency Customer Platform GloveBox Raises $5.5 Million

GloveBox, which provides independent agencies with a platform for aggregating insurance policy documents, regardless of carrier, in one centralized location, announced it has raised $5.5 million in Series A funding.

 

Nothing's Easy in Hard-Working Contractors' Market; Risks Include Inexperienced Workers, Inflated Costs and Inferior Materials

No other industry has weathered a global pandemic, economic changes, and a decade-long shortage of skilled labor better than the construction industry.

 

New York Waits to See If Bill to Expand Wrongful Death Damages Becomes Law

As New York Gov. Kathy Hochul mulls whether to sign legislation that will expand the types of damages that could be won in wrongful deaths cases, businesses including insurers are warning the change could mean higher liability insurance costs in the state, while advocates for victims are claiming the change would bring the state in line with other states and is long overdue.

 

Runaway Verdicts: Reversing the Trend

Social inflation generally describes verdicts that exceed $10 million but can apply to any unreasonably large award given the facts of a case.

 

Businesses Should Prepare for Increased Data Surveillance in Wake of Roe Decision

In response to SCOTUS overturning the federal right to abortion, businesses are advised to reevaluate their employee records.

 

Challenges in the Workers' Comp Space

The workers' compensation space is facing new challenges as claims costs rise.

 

Crypto Industry Should Face Tougher Regulations, Fed Vice Chairwoman Says

U.S. policy makers should extend investor protections and other financial rules to the cryptocurrency industry before the industry grows too large and begins to pose risks to the financial system, Federal Reserve Vice Chairwoman Lael Brainard said Friday.

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