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Biden Proposes Improvements to Mental Healthcare Coverage

In his recent State of the Union Address, Biden revealed his plan to improve mental health care and drug treatment in the United States. The President said he is seeking to close the gap in coverage for the millions of Americans struggling to get the care they need, and his plan would call upon insurers to include more coverage and doctors visits for no additional cost to patients. His plan will additionally seek to remove discrimination and increase affordable healthcare networks for the general public. If Biden’s plan is successful, health insurance will have new regulations and guidelines.

Telematics: The Future of Auto Insurance

Many factors influence the rate of car insurance that's given to an individual or business. An individual's age, driving history, location, make and model of vehicle, and the purpose of the vehicle can all affect the insurance costs. Though these have been the standard factors for decades, as the world adapts to new ways of operating, the insurance industry is seeking ways to keep up with modernized operations.

The U.S Prepares For Increase in Cyber Attacks Amid the Russian-Ukraine Conflict

The severe conflict between Russia and Ukraine has resulted in high-level cyber attacks and threats of imminent shutdowns reaching the west. Though the invasion of Ukraine by the Russian military escalated over this past weekend, the tension between the two territories has been steadily increasing over the past several weeks. Leading up to the invasion, Russian hackers have been shutting down Ukrainian websites, including important government and bank sites. These sophisticated cyber-attacks have cut off access to crucial resources for the Ukrainian people. Experts are going so far as to name these events the start of a true cyberwar. As more and more countries get involved in the conflict to aid the Ukrainian people, Russia continues to warn of consequences. The clear threat of more cyber hacks now has the potential to hit the US, and businesses are preparing for how to respond in the event that they are targeted.

How the Green Movement Impacts Insurance in The Energy Sector

The green movement is a product of our collective concern for the earth, global warming, and the future of our planet. Though the movement has been strong for decades, with the environmental protection act rolling out in the ’70s, it wasn't until recently that the need for change became obviously critical. At the same time, manufacturing, energy companies, and what some would now call “bio-hazardous” industries have grown exponentially. For the insurance industry, the energy sector has been a strong market and held a large capacity for growth. Now with social and economic pressures facing the energy sector and its insurers, the landscape of the market has changed significantly. While some may assume that The Green Movement is a threat to the insurance industry, there is quite a bit of opportunity within it as well. As the energy industry adjusts to the needs of society, the insurance industry will also adapt accordingly, and create new policies that represent new needs.

The U.S Still Faces Covid-19 Liability Threats

With vaccinations up and cases mostly on a downward trend, one might think the threat of Covid is coming to an end. While in some ways it is, in others ways-its holding strong. The pandemic has introduced a precarious situation of having to put the blame for a spreading infection onto a specific party as people seek financial compensation for losses incurred due to Covid-19. And as businesses continue to face fines and legal obligations into 2022, it's important to be aware of professional responsibility in regards to the pandemic, as well steps one can take to protect themselves and their employees.

Blockchain to Disrupt the Majority of Industries, Including Insurance

Though blockchain has become a common topic in business and personal conversation, many don’t fully understand its purpose, or it's potential to change the digital landscape and disrupt industries. Blockchain technology was originally developed to secure emerging cryptocurrencies like Bitcoin. In essence, blockchain is a data structure that builds digital ledgers across a peer-to-peer network. Blockchain funding has more than doubled since 2018 and it will reach nearly $16B by 2023, according to a CB Insights research brief. The massive traction blockchain is experiencing is due to its ability to store and transfer data securely without the need of a trusted third party. Industries like finance, insurance, and even manufacturing are planning to utilize the technology to secure and simplify their processes. This will not only change the basic structure of the industries but change the ways in which we interact with these industries as well. The revolutionary and coveted abilities of this technology will result in a radically different future, evolving the way we do business, and how we protect our assets.

Unemployment Rates To Remain Above Average Through 2023

Millions of Americans have been collecting unemployment benefits since late 2019 due to the pandemic hitting the labor force hard. At its peak, back in January 2021, unemployment claims were reaching 849,000 a week. Now, in 2022, the average number has dropped significantly to around 200,00 per week. Benefits have also been exhausted in many ways, leaving many unable to collect even if they need to.

The Restaurant Industry Post Covid-19: Challenges and Recovery Plans

The aftermath of COVID-19 has challenged every industry and put businesses in the difficult position of adjusting to new ways of working. The restaurant industry is no exception, and if anything- it was hit harder than most. According to recent data released by the National Restaurant Association, more than 90,000 restaurants have closed temporarily or permanently due to the pandemic, and industry sales fell by over $240 Billion in 2020 alone.

Cybersecurity Predictions For 2022

Cybercrime rates are the highest they’ve ever been, and experts don’t expect that to change anytime soon. Companies are expected to not only try and reduce the frequency of cybercrime in their organization but prepare to respond to cybercrime events that are inevitable. The 2020 Internet Crime Report revealed that in the past 5 years there has been an average of 440,000 complaints and that the number grew by 330,000 in 2020. Those 5 years combined have resulted in a total loss of $13.3 Billion.

Staged Auto Accidents: What You Need to Know

While most people think of motor accidents as tragic and financially threatening, a growing population of criminals look to them as a chance to commit insurance fraud and receive financial gain. Years ago the occurrence of staged accidents was a small threat that received little attention-but times have changed. In a recent report on the trucking industry, experts warn that insurance fraud is a serious and prevalent threat to the trucking industry. Staged accidents can involve sophisticated tactics that may be hard to recognize, especially if an involved individual is under the distress of a recent accident. Though people may assume staged events are one-off events, some criminal groups will plan and execute up to multiple accidents in a short period of time.