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Global tax services provider Ryan has already filed suit in a Texas federal court claiming this action exceeds the FTC's statutory authority.
Homesite Insurance paid the homeowners $691,305.12 under the terms of their insurance policy, according to the complaint.
The volume of insurance-carrier lawsuits is down in the Sunshine State.
Several years of data has emerged showing risk and loss patterns, making marijuana business policies easier to price competitively.
In 2023, the Texas Dept. of Insurance issued Go a cease and desist after receiving over 50 complaints about the company's practices.
Insurers now issue stricter policy language and insert more sub-limits and exclusions into cyber coverage.
The court found the potential for coverage because the policy applied to two structures on the same undivided parcel.
This case serves as a stark reminder of a growing threat: fraudulent claims facilitated by artificial intelligence.
Tesla settled with the family of Walter Huang for an undisclosed amount after he was killed in a crash while using its Autopilot software.
The plaintiffs intend to file a bad-faith suit in the case after their insurance company repeatedly refused to tender its policy until shortly before trial.
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