WebCE Weekly Wrap-Up: September 28 - October 4
WebCE Staff
By
October 4, 2024
From Hurricane Helene to the kickoff of Cybersecurity Awareness Month, this week’s stories can be boiled down to one word: Disruption.
Gripping reports of Hurrican Helene’s aftermath highlight the far-reaching havoc wrought on industries and communities alike. From on-the-ground hurdles to responding to claims to a new 2025 tax deadline for those impacted, the first seven stories this week offer multiple angles of recovery—along with a surprising report of record numbers of Americans moving to disaster-prone areas, despite the risks.
Since October is Cybersecurity Awareness Month, the final three top stories highlight the latest cyber vulnerabilities and how companies can prepare themselves against the rising threat of cyberattacks. Just a few weeks ago, the FBI announced cybercrime losses hit an all-time high in 2023—and losses by 2025 are estimated to be as much as $10.5 trillion.
Let’s dive into the top stories of this week to see how these disruptions are unfolding.
Top Stories of the Week
Helene Dumps Rain on Millions of US Homes That Lack Flood Insurance (Insurance Journal)
“The disaster underscores Americans’ dangerously low levels of flood insurance coverage, especially away from coastal areas.”
Hurricane Helene – Adjusters Face Significant Hurdles as Industry Prepares for a Surge of Claims (Insurance Business Mag)
“On a positive note, significant advancements in technology, including the use of drones, analytics and artificial intelligence (AI), have helped streamline the claims assessment process. This shift toward AI is allowing insurers to respond more quickly to customers, improving the overall claims experience.”
Hurricane Helene Shows How Broken the US Insurance System Is (Wired)
“There are models for insurance that are designed to better withstand the challenges of climate change. New Zealand, for instance, offers policies that cover all types of damage that could happen to your house; while these policies are increasingly tailored price-wise to different types of risk, there’s no chance a homeowner would experience a climate disaster not covered by their existing policies.”
IRS Extends Tax Deadlines Until May For Helene Victims (CPA Practice Advisor)
“The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.”
Whistleblowers Claim Insurance Companies Shortchanged Some Florida Homeowners After Hurricane Ian (60 Minutes)
“The whistleblowers, who are all licensed adjusters, tell us after Hurricane Ian, several insurance carriers were using altered damage reports to deceive customers.”
Record Numbers of Americans Are Moving to Disaster-Prone Areas—Despite the Risks (Realtor.com)
“Analysis by Realtor.com has found that 44.8% of homes in the U.S. valued at nearing $22.0 trillion are vulnerable to at least one type of severe climate risk including flood, wind, wildfire, heat, and air quality.”
Contract Signings Rise as Buyers Eye Market Opportunities (National Association of REALTORS®)
“Pending home prices rose slightly in August as lower mortgage rates provided some motivation to prospective home buyers. But buyers continue to face challenges such as high home prices, and many may be holding out for even lower rates, surveys show.”
Cybersecurity Awareness Month Began October 1 (Cybersecurity & Infrastructure Security Agency)
This year’s theme is Secure Our World, which “recognizes the importance of taking daily action to reduce risks when online and using connected to devices. Organizations can use the Secure Our World theme when planning for this and future Cybersecurity Awareness Month campaigns.”
Despite Escalating Threat, Execs Slow to Go for Cyber Insurance (Insurance News Net)
“U.S. business executives are more worried than ever about the risk of cyber threats and attacks, but according to a recent survey most of their companies are without detection and response plans and lack cyber insurance.”
How to Build an Effective Security Team (Security Magazine)
“As exciting as the newest security technology may be, it is only as effective as the team that deploys it. By constructing an organized, cooperative team, security leaders can lay the foundation their organization’s defense is built upon.”
Top Podcast of the Week
Cybersecurity Essentials (Wake Up with WebCE)
Welcome to Wake Up with WebCE! A series to jumpstart your day with leadership insights, business best practices, and more. Gain insights and practical tips to elevate your team and organization one coffee break at a time.
Join us for a fun discussion all about cybersecurity and some easy ways to protect your organization's data.