Anthony R. O’Donnell // June 27, 2025 (Image credit: Adobe Stock.) EIS (San Francisco) had achieved ISO/IEC 42001 certification, becoming the first cloud-native insurance core platform provider to earn the world’s inaugural standard for Artificial Intelligence Management Systems (AIMS). Mike Dwyer, CTO, EIS. EIS characterizes the certification as confirming its...
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Published on: 2025-06-27
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Insurance Journal
Article 0 Comments A week ago, U.S. National Hurricane Center forecasters accurately predicted Hurricane Erick would explode in intensity as it hit Mexico’s Pacific coastline. Now, key tools that helped inform that outlook will go away by the end of this month, and it’s unclear if a replacement will be...
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Published on: 2025-06-27
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News – Claims Journal
Article 0 Comments In recent years, there has been a surge in mental health awareness across the workers’ compensation landscape., These claims have become a higher priority for insurers with an estimated one-in-five adults (51.5 million) living with mental illness in the United States. Although mental health claims were initially...
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Published on: 2025-06-27
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News – Claims Journal
Anthony R. O’Donnell // June 26, 2025 (Image source: Instnt.) Instnt (New York) had entered into a partnership with Munich Re (Munich) to increase reinsurance support for its identity fraud loss insurance product. The collaboration adds to Instnt’s panel of AM Best A rated insurers, which includes Accredited and Howden....
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Published on: 2025-06-26
Source:
Insurance Journal
Anthony R. O’Donnell // June 26, 2025 (Image credit: Luke Stackpoole/Unsplash.) MetLife (New York) had expanded its partnership with Sprout.ai (London) to accelerate claims automation across its operations in the U.S., Asia, and Latin America. The insurer aims to accuracy, speed and the overall customer experience. MetLife first engaged Sprout.ai in 2023....
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Published on: 2025-06-26
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Insurance Journal
Article 0 Comments A judge ruled that the California FAIR Plan’s smoke-damage policy violates state law, while in another matter a lawsuit from a consumer group is drawing concern from insurers that it could push the California insurance market closer to collapse. On Tuesday, a Los Angeles County judge ruled...
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Published on: 2025-06-26
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News – Claims Journal
Article 0 Comments A federal judge sided with Facebook parent Meta Platforms in dismissing a copyright infringement lawsuit from a group of authors who accused the company of stealing their works to train its artificial intelligence technology. The Wednesday ruling from U.S. District Judge Vince Chhabria was the second in...
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Published on: 2025-06-26
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News – Claims Journal
Article 0 Comments GM is recalling 62,468 vehicles over the risk that a fault in the brake pressure sensor assembly may allow fluid to leak, increasing chances of an electrical short, the U.S. National Highway Traffic Safety Administration said on Thursday. An electrical short can generate excessive heat and could...
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Published on: 2025-06-26
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News – Claims Journal
Pragatee Dhakal // June 26, 2025 (Image credit: Shutterstock.) New York has long been a battleground for fraud-related litigation, and recent lawsuits invoking the Racketeer Influenced and Corrupt Organizations (RICO) Act highlight the growing use of this federal statute to combat fraudulent schemes. Originally designed to dismantle organized crime, RICO...
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Published on: 2025-06-26
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Insurance Journal
Article 0 Comments Europe’s heat wave is intensifying, fueling wildfires across the Mediterranean and threatening to curb electricity generation from both nuclear and hydropower plants. Temperatures in Spain are forecast to hit 39C (102F) on Wednesday, but could climb further to 42C next week as hot air streams in from...
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Published on: 2025-06-25
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News – Claims Journal
Article 0 Comments A ship that caught fire in the Pacific Ocean earlier this month has sunk. The vessel was abandoned in the middle of the pacific — about 360 miles from land — after a blaze. It was carrying about 3,000 vehicles of which about 800 were EVs. Damaged...
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Published on: 2025-06-25
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News – Claims Journal
Article 0 Comments Not long ago, a company held a conference call with a key vendor that included a dozen executives. The call was to create a repayment structure and schedule for a $2.6 million debt. A $750,000 installment arrangement was agreed to for the following Monday and was then...
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Published on: 2025-06-25
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News – Claims Journal
Article 0 Comments National Transportation Safety Board Chair Jennifer Homendy said Tuesday that the heroic actions of the crew aboard Alaska Airlines flight 1282 ensured everyone survived the terrifying incident last year when a door plug panel flew off the plane shortly after takeoff in January of 2024. Homendy said...
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Published on: 2025-06-24
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News – Claims Journal
Article 0 Comments A federal judge in San Francisco ruled late on Monday that Anthropic’s use of books without permission to train its artificial intelligence system was legal under U.S. copyright law. Siding with tech companies on a pivotal question for the AI industry, U.S. District Judge William Alsup said...
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Published on: 2025-06-24
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News – Claims Journal
Article 0 Comments The U.S. auto claims and collision repair industry began showing signs of stabilization in the second quarter, according to a new report. While CCC’s Crash Course report for second quarter points to “continued headwinds in the casualty space,” it notes that key indicators “across both segments reflect...
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Published on: 2025-06-24
Source:
News – Claims Journal
Anthony R. O’Donnell // June 24, 2025 (Image source: Whisker Labs.) SageSure, a Jersey City, N.J.–based MGU focused on catastrophe-exposed property, has partnered with Whisker Labs (Germantown, Md.) to provide eligible Louisiana homeowners with a no-cost electrical fire prevention program. The offering includes a Ting plug-in sensor, mobile app, up to...
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Published on: 2025-06-24
Source:
Insurance Journal
Article 0 Comments A man won $11 million in a lawsuit against police after his conviction for killing a Missouri newspaper’s sports editor was overturned, but the city’s former insurer resisted paying most of it for almost three years. A Missouri judge this week ordered the company to pay nearly...
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Published on: 2025-06-24
Source:
News – Claims Journal
Article 0 Comments Pine Claims Solutions Inc. launched an independent adjusting firm focused on property field claims. The company’s platform integrates core technologies like AI triage, real-time status dashboards and performance-based adjuster incentives aimed at claims handling while supporting field staff. Pine said it is currently onboarding adjusters in Florida...
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Published on: 2025-06-24
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News – Claims Journal
Article 0 Comments An analysis of mergers and acquisitions claims payouts from Aon shows more than $300 million representations and warranties claims were paid in 2024, the highest recorded in a single year. Aon plc on Tuesday released the latest edition of its Global Transaction Solutions Claims Study. The study...
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Published on: 2025-06-24
Source:
News – Claims Journal
Anthony R. O’Donnell // June 23, 2025 (Jayson Taylor. Source: MSIG USA.) MSIG USA, a provider of specialty insurance solutions, has appointed Jayson Taylor head of casualty. Taylor, who previously served as head of product innovation, reports to Peter McKenna, CEO. Since joining MSIG USA in 2024, Taylor has helped...
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Published on: 2025-06-23
Source:
Insurance Journal
Anthony R. O’Donnell // June 23, 2025 (Image credit: Deeezy/Pixabay.) AmTrust Financial Services (New York) has received a Celent Model Insurer Award for Digital Customer Experience. The recognition highlights the company’s AI-powered platform, AmTrust Genius, which enhances quote generation for brokers and agents. Nathan Golia, Senior Analyst, Celent. Built into the...
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Published on: 2025-06-23
Source:
Insurance Journal
Article 0 Comments In the long conflict between insurance carriers and public claims adjusters, Florida’s Citizens Property Insurance Corp. has unexpectedly altered the rules of engagement in a way that could have a big impact on some adjusters’ livelihood. And a public adjuster group already is mulling a potential legal...
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Published on: 2025-06-23
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News – Claims Journal
Article 0 Comments U.S. officials are warning businesses to brace for potential Iranian cyberattacks following American airstrikes on the country’s nuclear sites, an event that experts say could draw a relatively small response from hackers. A bulletin from the Department of Homeland Security warned that Iranian hackers routinely target American...
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Published on: 2025-06-23
Source:
News – Claims Journal
Article 0 Comments Employers Mutual Casualty Company Insurance named Brian Fuller chief claims officer. Fuller will oversee claims, claims operations, and EMC Claims Solutions, a third-party administrator. Fuller has been with EMC since 1998, starting as a claims adjuster. Brian Fuller Throughout the years, he has held several leadership positions...
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Published on: 2025-06-23
Source:
News – Claims Journal
Anthony R. O’Donnell // June 20, 2025 (Diego Oszurkiewicz, livestock producer in the municipality of Comandante Andresito, Missiones Province, Argentina. Source: UNDP Argentina.) Editor’s note: The following is a narrative created from the UNDP Argentina video linked below the text. For our main coverage on the jaguar-protection insurance initiative, click...
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Published on: 2025-06-20
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Insurance Journal
Article 0 Comments A $361 million (6.5 billion rand) lawsuit has been lodged in a South African court by a Japanese insurance company for a claim arising from flood damages suffered in 2022 by Toyota Motors Corp.’s plant near Durban. The claim against Transnet SOC Ltd., the KwaZulu-Natal Department of...
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Published on: 2025-06-20
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News – Claims Journal
Anthony R. O’Donnell // June 20, 2025 (Image source: LexisNexis Risk Solutions .) LexisNexis Risk Solutions (Atlanta) has introduced LexisNexis Location Intelligence for Commercial, a new underwriting tool designed to help U.S. commercial property insurers better assess loss propensity through predictive modeling and integrated workflow automation. David Zona, SVP, Commercial Insurance,...
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Published on: 2025-06-20
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Insurance Journal
Article 0 Comments California utilities cut power to more than 62,000 customers across the state in an attempt to stop wildfires from starting as dry winds sweep the region. PG&E Corp. cut off power to around 60,000 customers scattered across seven counties and may shut off more if conditions deteriorate,...
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Published on: 2025-06-20
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News – Claims Journal
Article 0 Comments Two executives were sentenced to federal prison for conspiring to defraud the United States and for failing to report information about defective dehumidifiers linked to multiple fires. According to the U.S. Department of Justice, this was the first criminal enforcement action against corporate executives for failing to...
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Published on: 2025-06-20
Source:
News – Claims Journal
Anthony R. O’Donnell // June 19, 2025 (Image source: Modular Solutions.) Modular Solutions (Calgary, Alberta) has closed a financing round led by a strategic industry partner and a group of private investors, facilitated by Tailwind Ventures, also based in Calgary. Although the amount of the funding was not disclosed, Pitchbook data...
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Published on: 2025-06-19
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Insurance Journal
Article 0 Comments Honda Motor-backed Helm.ai on Thursday unveiled its camera-based system to interpret urban environments, dubbed Helm.ai Vision, and said it was in talks with other automakers to deploy its self-driving technology in mass-market vehicles. Helm.ai is working with the Japanese automaker to integrate its technology in the upcoming...
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Published on: 2025-06-19
Source:
News – Claims Journal
Article 0 Comments The first three months of 2025 brought devastating wildfires to California, significant wind and hail events to Texas, and substantial increases in activity to “Tornado Alley,” but claim volume fell to a five-year low, a property report from Verisk shows. The findings in Verisk’s “Quarterly Property Report...
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Published on: 2025-06-19
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News – Claims Journal
Article 0 Comments California utilities are mulling power shutdowns as breezy dry conditions across the state raise the risk of wildfires. Pacific Gas & Electric Corp. may turn off power to at least 11,543 customers in 15 counties, according to its website. Southern California Edison Co. is also considering cutting...
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Published on: 2025-06-19
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News – Claims Journal
Article 0 Comments Renewable power like solar and onshore wind is the least expensive and quickest power generation source to deploy in the United States, even without government subsidies, Lazard said in a report on Monday. The cost to build new gas-fired power plants, meanwhile, has hit a 10-year high...
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Published on: 2025-06-19
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News – Claims Journal
Article 0 Comments The U.S. Senate tax committee proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump’s administration, according to a draft bill circulated on Monday. The...
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Published on: 2025-06-19
Source:
News – Claims Journal
Anthony R. O’Donnell // June 18, 2025 (Image source: Sixfold website.) Mphasis (Bengaluru), a provider of IT solutions in cloud and cognitive services, has announced a strategic partnership with Sixfold, a U.S. and U.K.-based AI underwriting platform. Srikumar Ramanathan, Chief Solutions Officer, Mphasis. As an implementation partner, Mphasis will deploy Sixfold’s platform...
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Published on: 2025-06-18
Source:
Insurance Journal
Anthony R. O’Donnell // June 18, 2025 (Image source: Sapiens.) Sapiens International Corporation (Rochelle Park, New Jersey), a global provider of software solutions for the insurance industry, has released a new version of its CoreSuite policy administration system, offering AI-driven enhancements for life, pensions, and annuities insurers. The update introduces generative...
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Published on: 2025-06-18
Source:
Insurance Journal
Anthony R. O’Donnell // June 18, 2025 (Adjusto FairMatch page.) Adjusto (Boulder, Colorado) has launched FairMatch, a new AI-powered platform designed to help property/casualty insurers resolve contents claims with greater accuracy and efficiency. Michael Balarezo, CEO, Adjusto. Unlike traditional approaches that rely on replacement catalogs or retail links, FairMatch equips adjusters...
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Published on: 2025-06-18
Source:
Insurance Journal
Article 0 Comments Ron Perelman told a judge that five of his paintings totaling over $400 million in value lost their luster from a fire in his Hamptons home, at the trial of his lawsuit seeking to force his insurers to cover the cost. Perelman says the artworks, which include...
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Published on: 2025-06-18
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News – Claims Journal
Article 0 Comments St. Louis Mayor Cara Spencer signed an executive order to waive a 25% holdback of insurance payouts for property damage claims related to the May 16 tornado that damaged at least 10,000 properties in the city. The order instructs the City of St. Louis city counselor and...
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Published on: 2025-06-18
Source:
News – Claims Journal
Article 0 Comments Louisiana Governor Jeff Landry vetoed a bill last week that would have limited bad faith lawsuits against insurers, a move that raised criticism from the insurance industry. SB 111, sponsored by Sen. Alan Seabaugh, R-Many, intended to bring clarity to when claimants could bring bad faith personal...
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Published on: 2025-06-18
Source:
News – Claims Journal
Article 0 Comments Not one but two class action lawsuits have been filed against Erie Insurance even as the insurer continues to investigate its cybersecurity incident. One lawsuit was filed by an Illinois customer, Neil Plascencia; the other by Amy Haas, a former Erie employee who lives in Wisconsin. Both...
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Published on: 2025-06-17
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News – Claims Journal
Article 0 Comments In this image provided by the Wheeling West Virginia Fire Department, cars sit submerged in floodwaters, Saturday, June 14, 2025, in Wheeling, W.V. (Wheeling West Virginia Fire Department via AP) Flash flooding caused by torrential rains killed five people in northern West Virginia and rescue crews were...
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Published on: 2025-06-17
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News – Claims Journal
Article 0 Comments This article is part of an on-going series about technological and AI-related developments and advancements in claims processes and claims departments.View Series It makes sense that Pie Insurance, which arose amid the explosion insurtechs and fintechs in the businessworld, is embracing the power and promise of artificial...
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Published on: 2025-06-17
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News – Claims Journal
Article 0 Comments The head of Boeing Commercial Airplanes, Stephanie Pope, met the chairman of Air India on Monday in India, two sources said, as the companies seek to find the cause of last week’s fatal crash involving a Boeing 787 Dreamliner. Pope met Air India Chairman N. Chandrasekaran at...
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Published on: 2025-06-17
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News – Claims Journal
Article 0 Comments Until recently, homeowners insurers weren’t allowed to use catastrophe models to justify needed rate increases, or to include the cost of reinsurance in their rate indications in the state of California. While that changed late last year when Commissioner Ricardo Lara announced new regulations allowing both as...
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Published on: 2025-06-17
Source:
News – Claims Journal
Article 0 Comments Wind roared against the SUV’s windows as its tires sloshed through water dumped onto the road by the downpour. A horizon-wide funnel cloud loomed out the window, several miles away. Then came the loud metallic pings on the roof. First one, then another. Then it was too...
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Published on: 2025-06-17
Source:
News – Claims Journal
Anthony R. O’Donnell // June 16, 2025 (Image source: home page of Co-operators subsidiary Sovereign Insurance.) Co-operators (Guelph, Ontario) and Guidewire (San Mateo, California) announced that Co-operators had implemented Guidewire ClaimCenter on Guidewire Cloud Platform to support claims management across its property/casualty operations. Harry Pickett, EVP, CIO, Co-operators. A Guidewire client since 2007,...
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Published on: 2025-06-16
Source:
Insurance Journal
Initial reports of the attack emerged from the Wall Street Journal, which, citing unnamed sources, suggested the possibility of a foreign government’s involvement. The Journal’s account indicated that journalists assigned to national security and economic policy beats, particularly those covering China, appeared to be among the targeted individuals. Staffers were...
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Published on: 2025-06-16
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Insurance Business Magazine
Article 0 Comments Update The death toll from heavy rains that inundated parts of San Antonio has risen to 13, and all those missing have been found, authorities said Saturday. More than 7 inches (18 centimeters) of rain fell over a span of hours on Thursday, causing fast-rising floodwaters to...
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Published on: 2025-06-16
Source:
News – Claims Journal
Key coverage highlights of the program include building limits up to $1 million, contents limits up to $500,000, and ALE limits up to $50,000. It also offers multiple deductible options ranging from $500 to $25,000. The program is lender-compliant, features no waiting period or coinsurance penalty, and provides replacement cost...
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Published on: 2025-06-16
Source:
Insurance Business Magazine
The 2025 Atlantic hurricane season arrives amid a puzzling contradiction: long-standing climate signals suggest a potentially slower start to tropical storm activity, yet official forecasts point decisively toward an above-normal season. This tension has captured the attention of insurers and reinsurers alike, for whom the frequency, intensity, and unpredictability of...
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Published on: 2025-06-16
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Insurance Business Magazine
Article 0 Comments The U.S. Supreme Court agreed on Monday to hear a bid by Chevron, Exxon Mobil and other oil and gas companies to have lawsuits brought by two Louisiana localities accusing them of harming the state’s coast over a period of decades moved out of state court and...
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Published on: 2025-06-16
Source:
News – Claims Journal
Insurers eye mounting risks For the insurance sector, the convergence of military escalation, electronic interference, and disrupted maritime logistics represents a sharp rise in regional exposure. Hull, cargo, and war risk underwriters are reassessing policies issued to clients operating in Gulf waters, while some reinsurers have initiated internal exposure audits...
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Published on: 2025-06-16
Source:
Insurance Business Magazine
Insurance Commissioner Tim Temple expressed disappointment with the decision, describing the bill as an effort to address legal system costs that insurers say contribute to higher rates for policyholders. In a statement, Temple said the legislation was designed to create a more balanced environment for insurers defending against lawsuits. ...
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Published on: 2025-06-16
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Insurance Business Magazine
Article 0 Comments Bad faith litigation has long posed both legal and reputational risks for insurers operating in Florida. With the enactment in 2023 of House Bill 837—a sweeping tort-reform measure—there are important changes to how insurers and their claims professionals must approach liability and settlement practices. While these reforms...
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Published on: 2025-06-16
Source:
News – Claims Journal
Article 0 Comments A string of recent cyberattacks and data breaches involving the systems of major retailers have started affecting shoppers. United Natural Foods, a wholesale distributor that supplies Whole Foods and other grocers, said this week that a breach of its systems was disrupting its ability to fulfill orders...
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Published on: 2025-06-16
Source:
News – Claims Journal
Stéphan Donzé // June 13, 2025 (Image credit: Adobe Stock.) Insurance companies face an impossible choice that would challenge even Odysseus. They can deploy AI quickly on chaotic file shares and get confidently wrong answers—those authoritative-sounding but completely inaccurate responses that AI delivers when it lacks access to reliable source...
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Published on: 2025-06-13
Source:
Insurance Journal
Anthony R. O’Donnell // June 13, 2025 (Image source: MAPFRE USA.) MAPFRE USA (Webster, Mass.), part of the MAPFRE Group (Madrid), is undertaking a far-reaching transformation led by José Luis Bernal Zúñiga, Chief Data, Digital, and Innovation Officer and other senior executives. As a member of the company’s management committee, Bernal plays...
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Published on: 2025-06-13
Source:
Insurance Journal
Anthony R. O’Donnell // June 13, 2025 (Image credit: Alejandro Barba/Unsplash.) Dataloop, a SAS-only analytics and compliance firm headquartered in Mexico City, has developed a portfolio of capabilities aimed at helping small and midsize businesses (SMBs) across Latin America combat financial crimes, optimize supply chains, and ensure tax compliance. While the...
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Published on: 2025-06-13
Source:
Insurance Journal
Verizon’s data breach investigations report corroborates this observation. The report noted that only 36% of organizations in 2024 paid ransom, up from half previously, and median payouts fell from $150,000 to $115,000. Similarly, insurer At-Bay saw 19% more ransomware incidents and a 13% increase in their severity, but also reported...
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Published on: 2025-06-13
Source:
Insurance Business Magazine
The insight comes from the newly launched Property and Casualty Loss Development and Reserve Analysis Insights Dashboard, which evaluates the year-over-year development of incurred versus paid losses for more than 700 insurance groups. Using a heat-mapped grid and drill-down tables, the tool flags carriers based on how their reserves align...
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Published on: 2025-06-13
Source:
Insurance Business Magazine
On November 25, 2016, more than seven years after the liquidation, Customs issued a bill to Presstek. When Presstek failed to pay, Customs made a first demand on Aegis on February 6, 2017. Aegis protested on April 25, 2017, and Customs granted the protest in part. Customs then issued a...
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Published on: 2025-06-13
Source:
Insurance Business Magazine
Article 0 Comments Collegiate teams that competed in the men’s and women’s basketball tournaments turned heads in March. Now, we’re hearing about topics that made it to the final rounds of Verisk’s recent emerging issues bracket that could hold the collective attention of property/casualty insurance professionals for years to come....
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Published on: 2025-06-13
Source:
News – Claims Journal
Anthony R. O’Donnell // June 13, 2025 (Photo by author.) Canopius Group (London), an international specialty and property/casualty (re)insurer, has announced that Samsung Fire & Marine Insurance (SMFI, Seoul) has agreed to acquire an additional 21 percent equity stake in the Group, increasing its total shareholding to 40 percent. Neil Robertson, Group CEO,...
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Published on: 2025-06-13
Source:
Insurance Journal
Article 0 Comments Google sued Chile-based LATAM Airlines in U.S. federal court on Thursday, seeking a declaration that Brazilian courts cannot force the tech giant to take down a YouTube video in the U.S. that accused a LATAM employee of sexually abusing a child. Alphabet’s Google, which owns YouTube, said...
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Published on: 2025-06-13
Source:
News – Claims Journal
If the appraisers are unable to agree, the dispute would be escalated to a neutral umpire selected jointly by the appraisers. If they fail to agree on an umpire within 15 calendar days, either party could petition a judge to appoint one. The decision made by the umpire or judge...
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Published on: 2025-06-13
Source:
Insurance Business Magazine
“While the improved 2024 underwriting performance is encouraging, we remain focused on several challenges facing the personal auto insurance industry,” said Triple-I CEO Sean Kevelighan. “The growing impacts of legal system abuse, driven by the exploitive tactics of billboard attorneys, combined with an increasingly complex regulatory environment, will continue to...
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Published on: 2025-06-13
Source:
Insurance Business Magazine
Article 0 Comments President Donald Trump’s plan to begin “phasing out” the federal agency that responds to disasters after the 2025 hurricane season is likely to put more responsibilities on states to provide services following increasingly frequent and expensive climate disasters, experts said. “We want to wean off of FEMA...
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Published on: 2025-06-13
Source:
News – Claims Journal
Article 0 Comments California Insurance Commissioner Ricardo Lara on Thursday said he has launched a formal investigation into State Farm’s handling of thousands of insurance claims from wildfire survivors affected by the Palisades and Eaton wildfires in January. The California Department of Insurance initiated a market conduct examination of State...
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Published on: 2025-06-12
Source:
News – Claims Journal
“We’re seeing much more detailed inquiries,” Porter said. “What’s the specific risk in this region, at this site? Customers, brokers, and other partners are involving us earlier in the decision process. That’s a shift from even five to 10 years ago, when insurers often only found out after the expansion....
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Published on: 2025-06-12
Source:
Insurance Business Magazine
Anthony R. O’Donnell // June 12, 2025 (Image credit: Caleb Cook.) Kin Insurance (Chicago), a direct-to-consumer home insurance provider focused on catastrophe-exposed markets, has deployed ZestyAI’s (Oakland, California) Z-FIRE wildfire risk model to assess property-level wildfire exposure as part of its expansion into California. The integration of Z-FIRE was completed in 10...
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Published on: 2025-06-12
Source:
Insurance Journal
Anthony R. O’Donnell // June 12, 2025 (Michelle Ip, CEO, AIFT Enterprise, and Mark Wei, Chairman, Shin Kong Life. Source: Shin Kong Life.) AIFT (Singapore) and Shin Kong Life (Taiwan) have announced a strategic cooperation agreement to launch a digital insurance initiative in Vietnam. The partnership combines AIFT’s IXT technology with Shin Kong...
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Published on: 2025-06-12
Source:
Insurance Journal
In some cases, he said, long-standing capacity providers have exited layers altogether, leaving brokers scrambling to fill $25 million gaps with carriers willing to offer only $5 million each. That translates to more participants, more negotiations, and more disruption. ...
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Published on: 2025-06-12
Source:
Insurance Business Magazine
On June 9, 2025, the Eighth Circuit Court of Appeals sided with Travelers Property Casualty Company of America in a closely watched dispute over coverage for construction delays at a Missouri apartment complex, ruling that developer BCC Partners, LLC wasn’t entitled to a $1.4 million payout for lost rental income...
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Published on: 2025-06-12
Source:
Insurance Business Magazine
Two Pennsylvania-based property and casualty insurers are responding to separate network disruptions that have limited policyholder access to digital services and communication lines. Philadelphia Insurance Companies, headquartered in Bala Cynwyd, confirmed a system outage on June 11, affecting its phone, email, and online application access. The only online functionality available...
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Published on: 2025-06-12
Source:
Insurance Business Magazine
The specialty insurer has priced its initial public offering at $17 per share, above the previously estimated range of $14 to $16. The company is offering 6,666,667 shares of Class A common stock. Underwriters have a 30-day option to purchase up to 1 million additional shares. If exercised in full,...
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Published on: 2025-06-12
Source:
Insurance Business Magazine
The lawsuit, submitted Wednesday, outlines claims that the defendants colluded to deliberately stage car accidents, fabricate injuries, and pursue unwarranted medical treatment - all as part of a broader scheme to exploit insurance claims and initiate baseless legal actions. Uber asserts that the misconduct, which took place throughout 2023 and...
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Published on: 2025-06-12
Source:
Insurance Business Magazine
The US 3rd District Court of Appeals has dismissed a consolidated appeal, effectively ending a bid by fashion giant Ralph Lauren Corp., luggage manufacturers Tumi Inc. and Samsonite LLC, and Delilah Europe Investments Sarl to recoup billions in losses stemming from the COVID-19 pandemic. The companies had sought to recover...
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Published on: 2025-06-12
Source:
Insurance Business Magazine
Article 0 Comments Some Florida policyholders and their attorneys have long complained about real or perceived delays in the claims-handling process after a loss. A Florida appeals court ruled last week that telling a jury about those delays may be prejudicial and out of bounds in a claims dispute lawsuit....
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Published on: 2025-06-12
Source:
News – Claims Journal
Article 0 Comments The Trump administration is increasingly skipping a form of federal disaster aid that helps states better prepare for future storms, flooding and wildfires. The Federal Emergency Management Agency rejected requests for such resiliency money, known as Hazard Mitigation Grant Program funding, for Iowa, Mississippi, Missouri and Oklahoma...
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Published on: 2025-06-11
Source:
News – Claims Journal
"While our financial results are far from Starbucks' potential, we are working to build back a better business," said Cathy Smith, chief financial officer, in a previous statement. "We are developing new muscles to test, iterate and scale quickly, in service of long-term, durable growth and strong returns on invested...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Anthony R. O’Donnell // June 11, 2025 (Image source: Delos website.) Delos Insurance Solutions (San Francisco) has secured new capacity to extend insurance coverage to more homeowners in wildfire-exposed regions of California. The expansion allows the managing general agent (MGA) to offer insurance to an additional 15,000 homes valued below $1.5...
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Published on: 2025-06-11
Source:
Insurance Journal
Article 0 Comments Walt Disney Co. and Comcast Corp. teamed up to sue Midjourney Inc., accusing the startup of copyright infringement in the latest sign of tension between major media companies and a new crop of artificial intelligence businesses. Midjourney, which launched publicly in 2022, allows people to create vivid,...
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Published on: 2025-06-11
Source:
News – Claims Journal
Anthony R. O’Donnell // June 11, 2025 (Image source: Sure homepage.) Sure (Dallas), an enterprise InsurTech platform powering embedded digital insurance via API, has introduced what it characterizes as the insurance industry’s first Model Context Protocol (MCP), a capability that allows AI agents to autonomously quote, bind, and service insurance policies. The...
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Published on: 2025-06-11
Source:
Insurance Journal
In the Q2 edition of the Professional Risks Power Panel, experts from Aon, WTW and Risk Strategies examine the impact of AI on E&O and D&O. They look at the increased use of AI tools in professional services, how policy wordings are changing, claims disputes and more. ...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Article 0 Comments Uber Technologies Inc. sued a group of lawyers, medical providers and rideshare drivers it claims staged car accidents, manufactured damages and received unnecessary medical procedures to take advantage of insurance policies in Florida, costing the rideshare giant “several million dollars” in legal fees. Uber accused the group...
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Published on: 2025-06-11
Source:
News – Claims Journal
According to the letter, the language in the bill may extend beyond machine learning systems to include common data tools and software regularly used by insurers. If enacted, the provision could limit regulators' ability to monitor and address evolving issues associated with emerging technologies that do not fall strictly under...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
The credit would equal the full amount of qualified installation expenses, up to a maximum of $10,000 per homeowner. The total amount of credits the state may issue would be limited to $10 million. According to the bill, costs related to permits, inspections, and similar expenses would not qualify for...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Hoffman, meanwhile, maintained that his committee operates in a structured and consistent manner, and that rejecting nominees when warranted ultimately results in improved leadership for state agencies. He also noted that each rejected nominee has been followed by what he characterized as a better alternative. ...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Substitute House Bill 6435, passed in the state’s January 2025 session and effective October 1, 2025, strengthens the automobile arbitration process for physical and property damage claims involving private passenger vehicles. It applies when liability and coverage are not in dispute but disagreements over the amount persist. ...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
A blow to insurers’ defence The insurers had contended that the aircraft, while stuck in Russia, continued to be operated by Russian airlines and therefore could not be deemed “lost” under policy language. The judge rejected this view, citing the March 2022 export ban introduced by the Kremlin, which made...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Centerbridge Partners, meanwhile, originally acquired Canopius in 2018 through a private equity consortium. Under its ownership, Canopius has undertaken a number of strategic initiatives, including global market expansion and selective product realignment. ...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
The act applies to requests made on or after the effective date, which is set for 12:01 a.m. on the day following the expiration of the ninety-day period after final adjournment of the General Assembly. However, if a referendum petition is filed under section 1 (3) of article V of...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Health insurance carriers in Pennsylvania will soon be required to cover breast cancer screenings and diagnostic imaging without any cost-sharing, under Senate Bill 88 introduced June 6, 2025. The bill, which amends The Insurance Company Law of 1921, aims to provide broader access to breast imaging by removing financial barriers...
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Published on: 2025-06-11
Source:
Insurance Business Magazine
Article 0 Comments Tom Bodett, known for his radio and TV ads telling travelers that at Motel 6 “we’ll leave the light on for you,” has sued the motel chain for using his name and voice without permission, after their nearly four-decade relationship broke down. In a complaint filed on...
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Published on: 2025-06-11
Source:
News – Claims Journal
Article 0 Comments Following the “paradigm-shifting” Los Angeles wildfires in January, the 2024-2025 wildfire season will be remembered as a turning point for the insurance industry, and a warning that “wildfire is no longer a seasonal or rural phenomenon,” a new outlook asserts. The rest of 2025 poses severe wildfire...
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Published on: 2025-06-10
Source:
News – Claims Journal
The report identifies a measurable increase in both the frequency and severity of extreme weather events. According to Crawford, these developments are contributing to a “new normal” characterized by climate change-driven catastrophes, which are increasing volatility across the insurance sector. ...
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Published on: 2025-06-10
Source:
Insurance Business Magazine
Article 0 Comments The Insurance Institute for Highway Safety’s latest round of vehicle safety award winners include six vehicle models from four foreign automakers earning 2025 TOP SAFETY PICK+ awards in the latest batch of ratings. The 2025 versions of the Hyundai Elantra, Kia K4, Toyota Prius, Hyundai Sonata, Toyota...
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Published on: 2025-06-10
Source:
News – Claims Journal
Article 0 Comments A judge on Monday dismissed the lawsuit filed by actor and director Justin Baldoni against his “It Ends With Us” costar Blake Lively after she sued him for sexual harassment and retaliation. U.S. District Court Judge Lewis Liman’s decision is the latest development in the bitter legal...
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Published on: 2025-06-09
Source:
News – Claims Journal