A small but growing number of cyber insurers are incorporating language into their policies that specifically addresses risks from artificial intelligence (AI). The June 2025 issue of The Betterley Report’s Cyber/Privacy...more
A law recently passed by the New York State Assembly and signed by Gov. Kathy Hochul puts significant limits on the flood insurance that lenders can require borrowers to purchase on loans secured by residential real property....more
1/27/2025
/ Compliance ,
Consumer Financial Products ,
FEMA ,
Financial Institutions ,
Financial Services Industry ,
Flood Insurance ,
Insurance Industry ,
Mortgage Lenders ,
Mortgages ,
New Legislation ,
Risk Management
This is a deceptively simple question — risk managers rightfully expect to know the scope of their coverages when they build their insurance programs. Unfortunately, judicial interpretation of common policy terms can turn...more
The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement emphasizing the need for lenders and servicers to include cyber insurance in their risk management program. Although the FFIEC did...more