Anthony R. O’Donnell // May 17, 2024 (Image credit: Shutterstock.) Embroker (San Francisco), a digital platform aimed at simplifying the purchase of business insurance, has announced the release of a new vertical program created specifically for consultants. Now available on Embroker’s ONE platform, the coverage program is built for consultants’ specific needs... Read more
Published on: 2024-05-17
By Anthony O'Donnell
Check your coverage – Houston storm victims should contact carrier, broker says | Insurance Business America Catastrophe & Flood Check your coverage – Houston storm victims should contact carrier, broker says Severe storms in the area leave four people dead and nearly 1 million homes and businesses... Read more
Published on: 2024-05-17
By Insurance Business America
Article 0 Comments Increased distractions, staffing shortages, and safety risks mean that 60% of company drivers are worried about their personal safety and liability behind the wheel. Over half have been involved in or witnessed an accident in the past year. According to Nationwide’s Agency Forward Driving Behaviors 2024 Survey... Read more
Published on: 2024-05-17
Allstate's catastrophe losses for April reach new high | Insurance Business America Catastrophe & Flood Allstate's catastrophe losses for April reach new high The firm logged 11 events, with 80% attributed to wind, hail, or tornado Catastrophe & Flood... Read more
Published on: 2024-05-17
By Insurance Business America
Consumer Watchdog issues warning over Commissioner Lara's deal with insurers | Insurance Business America Property Consumer Watchdog issues warning over Commissioner Lara's deal with insurers Low-benefit, high-cost policy is the best that homeowners can hope to get, it suggests ... Read more
Published on: 2024-05-17
By Insurance Business America
EPIC appoints new managing principal for entertainment & sports division | Insurance Business America Insurance News EPIC appoints new managing principal for entertainment & sports division Hiring to expand the firm's specialty in the Nashville region Insurance News ... Read more
Published on: 2024-05-17
By Insurance Business America
Article 0 Comments More than 946,000 homes and businesses in Texas, Louisiana and other Gulf Coast states were still without power on Friday morning after killer storms battered the region on Thursday, according to meteorologists and data from PowerOutage.us. The storm with hurricane-force winds pummeled the Houston area on Thursday,... Read more
Published on: 2024-05-17
By Admin
Article 0 Comments Two voice actors sued artificial-intelligence startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology. Paul Lehrman and Linnea Sage said in the proposed class-action lawsuit that San Francisco-based Lovo is... Read more
Published on: 2024-05-17
By Admin
AIG to sell part of Corebridge stake to Nippon Life for $3.8 billion | Insurance Business America Insurance News AIG to sell part of Corebridge stake to Nippon Life for $3.8 billion Insurance giant to retain 9.9% shareholding Insurance... Read more
Published on: 2024-05-17
By Insurance Business America
Article 0 Comments How to handle complex ports and terminals business interruption insurance claims, marine and cargo damages, and marine stock claims are topics that have again come to the forefront of claims professionals’ minds following the tragic Francis Scott Key Bridge collapse in Baltimore. Many have sought to put... Read more
Published on: 2024-05-17
By Admin
Article 0 Comments SCA Claim Services named Max Alwag as its quality assurance director. Alwag will lead a quality assurance team of licensed adjusters tasked with the review of claims. The team’s responsibilities include cycle time compression and loss cost reduction, prevention of errors and oversights, ensuring files are written... Read more
Published on: 2024-05-17
Article 0 Comments A 64% jump in ransomware claims in 2023 is driven by an explosion in “indirect” ransomware incidents, up over 415% in 2023, with remote access tools accounting for 58% of attacks. The year-over-year increases were seen among mid-market and emerging businesses, according to At-Bay’s 2024 InsurSec Report.... Read more
Published on: 2024-05-16
MS Transverse CEO shifts to vice chairman role, new CEO appointed | Insurance Business America Insurance News MS Transverse CEO shifts to vice chairman role, new CEO appointed "Hybrid fronting" firm looks to continue building momentum Insurance News ... Read more
Published on: 2024-05-16
By Insurance Business America
Bermuda reinsurers aware of their corporate social responsibility – BMA survey | Insurance Business America Reinsurance Bermuda reinsurers aware of their corporate social responsibility – BMA survey Almost half developing solutions to close the gap Reinsurance ... Read more
Published on: 2024-05-16
By Insurance Business America
NAIFA chief thanks lawmakers for move against fiduciary-only rule | Insurance Business America Insurance News NAIFA chief thanks lawmakers for move against fiduciary-only rule CEO writes legislators to commend their leadership on the issue Insurance News ... Read more
Published on: 2024-05-16
By Insurance Business America
Article 0 Comments The longer the freight train, the greater the risk of derailment, new research from the Society for Risk Analysis shows. The study draws on the example of the February 2023, East Palestine, Ohio derailment, in which 38 cars from a 151-car, 9,300-foot-long freight train derailed, leading to... Read more
Published on: 2024-05-16
Article 0 Comments Tesla Inc. must face a proposed class-action lawsuit alleging that it misled consumers about its cars’ self-driving capabilities, a fresh setback for the electric-car maker just as Chief Executive Officer Elon Musk has staked the company’s future on autonomy. Tesla has been accused of overstating in 2016... Read more
Published on: 2024-05-16
By Admin
Anthony R. O’Donnell // May 15, 2024 (Image source: Earnix.) Earnix (Tel Aviv/London) a global provider of AI-based SaaS pricing and rating solutions for financial services, and Exavalu (Newport Beach, Calif.), a global insurance digital advisory and system integration consulting firm, have announced a strategic partnership to provide property/casualty insurance carriers... Read more
Published on: 2024-05-15
By Anthony O'Donnell
New life & annuity reinsurer AeCe Isa established in Bermuda | Insurance Business America Reinsurance New life & annuity reinsurer AeCe Isa established in Bermuda Venture will focus on single-premium deferred annuities Reinsurance By Kenneth Araullo... Read more
Published on: 2024-05-15
By Insurance Business America
Article 0 Comments MS Amlin named Catherine Healy head of property and crisis management claims. Healy will be responsible for the management and oversight of claims for commercial property, property binders, transportation, crisis management. She will based in London and report to Clare Constable, chief claims officer. She has experience... Read more
Published on: 2024-05-15
Anthony R. O’Donnell // May 14, 2024 (Image credit: Ronan Furuta/Unsplash.) Tokio Marine Kiln (TMK; London/Singapore) and Rezylient Insurance Agency (Salt Lake City) have announced the launch of a new trade disruption product, Rezylient, which provides financial protection against disruptions to supply chains, alongside a suite of risk management tools, powered... Read more
Published on: 2024-05-14
By Anthony O'Donnell
Article 0 Comments Fraught with fraud and litigation abuse, the Florida insurance market is finally showing signs of stabilization amid legislative reforms passed in 2022 and 2023, according to a new Triple-I Issues Brief. The ongoing depopulation of Citizens Property Insurance Corp., the state-backed insurer of last resort which became... Read more
Published on: 2024-05-14
Article 0 Comments With the start of hurricane season less than a month away, U.S. officials who predict, prepare for and respond to natural disasters had a message for Floridians on Friday: It’s not a matter of if a hurricane will hit, but when. The 2024 hurricane season is expected... Read more
Published on: 2024-05-13
By Admin
Article 0 Comments The Florida Office of Insurance Regulation in recent weeks has fined five property/casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to properly handle hundreds of claims after Hurricane Ian. Heritage officials have agreed to pay the... Read more
Published on: 2024-05-13
By William Rabb
Anthony R. O’Donnell // May 13, 2024 (Image source: Monitaur website.) Monitaur (Boston), a provider of model governance software company for highly regulated companies and their partners, has announced the closing of a $6 million Series A funding round led by Cultivation Capital, with participation from Rockmont Partners and others including Defy VC, Techstars,... Read more
Published on: 2024-05-13
By Anthony O'Donnell
Article 0 Comments A bird flew into a roofer’s face broke their nose, another employee broke a foot as running from a spider, a robotic arm grabbed a worker and inflicted trauma to her chest, and a baby skunk bit someone at a worksite. Workplace injuries happen, but some of... Read more
Published on: 2024-05-13
Article 0 Comments The Florida Supreme Court has opened the door a little wider to wrongful death claims from people who weren’t married to victims at the time of injury, upsetting what defense lawyers said was a decades-old common-law practice. In Ripple vs. CBS Corp. the court on Thursday overturned... Read more
Published on: 2024-05-13
By William Rabb
Article 0 Comments Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The report, “Corporate Verdicts Go Thermonuclear,” found that the number of nuclear jury verdicts... Read more
Published on: 2024-05-13
By Ezra Amacher
Article 0 Comments If personal auto insurance loss reserves are developing adversely, can commercial general liability be far behind? That’s the gist of one of the questions that analysts from Moody’s Investors Service asked—and answered—in a new report on the U.S. property/casualty insurance sector this week, predicting reserve strengthening lies... Read more
Published on: 2024-05-13
Anthony R. O’Donnell // May 10, 2024 (Image source: Boundless Rider home page.) Boundless Rider Insurance Agency, LLC (Boston), a new InsurTech distributor focused on innovating and modernizing insurance for motorcycle and powersport riders, has announced the launch of its Safe Rider Program, which uses AI and telematics to enhance rider safety and... Read more
Published on: 2024-05-10
By Anthony O'Donnell
AM Best places reinsurer's credit ratings under review | Insurance Business America Reinsurance AM Best places reinsurer's credit ratings under review What made the agency bring up a review? Reinsurance By Jonalyn Cueto May... Read more
Published on: 2024-05-10
By Insurance Business America
Triple-I predicts increase in US P&C replacement costs | Insurance Business America Insurance News Triple-I predicts increase in US P&C replacement costs Analysts note a trend that could impact the industry Insurance News By Jonalyn Cueto... Read more
Published on: 2024-05-10
By Insurance Business America
Article 0 Comments Brazil’s aid measures after historic floods battering Rio Grande do Sul state will result in a fiscal impact of 7.7 billion reais ($1.49 billion) for the federal government, Finance Minister Fernando Haddad said on Wednesday. Most of the impact will come from the injection of 5.5 billion... Read more
Published on: 2024-05-10
By Admin
Article 0 Comments Nine of the 10 wrongful death lawsuits filed after a deadly crowd surge at the 2021 Astroworld music festival have been settled, including one that was set to go to trial this week, an attorney said Wednesday. Jury selection had been set to begin Tuesday in the... Read more
Published on: 2024-05-10
By Admin
FloodFlash US unveils new program | Insurance Business America Catastrophe & Flood FloodFlash US unveils new program Offering aimed at vehicle dealerships Catastrophe & Flood By Terry Gangcuangco May 10, 2024 Share ... Read more
Published on: 2024-05-10
By Insurance Business America
Article 0 Comments The husband of a Connecticut visiting nurse who was killed during an appointment with a convicted rapist filed a wrongful death lawsuit Monday, alleging her employer repeatedly ignored workers’ safety concerns about treating dangerous patients. Ronald Grayson sued Elara Caring, its affiliated companies and others over the... Read more
Published on: 2024-05-10
By Admin
Article 0 Comments The Centers for Disease Control (CDC) has asked that states make personal protective equipment (PPE) available to workers on dairy farms, poultry farms, and in slaughterhouses given concerns about the H5N1 bird flu. Although CDC’s assessment of the immediate risk to the U.S. public from avian influenza... Read more
Published on: 2024-05-10
Florida property insurance market shows signs of improvement - Triple I | Insurance Business America Insurance News Florida property insurance market shows signs of improvement - Triple I Agency notes the impact of actions taken dating back to 2022 ... Read more
Published on: 2024-05-09
By Insurance Business America
Kentucky takes steps to combat auto glass repair fraud with new law | Insurance Business America Motor & Fleet Kentucky takes steps to combat auto glass repair fraud with new law What will change with the new legislation in place? ... Read more
Published on: 2024-05-09
By Insurance Business America
Article 0 Comments Louisiana governor Jeff Landry signed a package of insurance reform bills Tuesday aimed at encouraging insurers to write more business in the state’s property market. The legislation, endorsed by Louisiana Insurance Commissioner Tim Temple, will give property insurers more flexibility over policy cancellations, replace a prior approval... Read more
Published on: 2024-05-09
By Ezra Amacher
Anthony R. O’Donnell // May 9, 2024 (Image source: Main Street America homepage.) Main Street America Insurance (Jacksonville, Fla.) has partnered with TransUnion (Chicago) to provide specialized cyber risk protection for small businesses. Main Street America’s small business policyholders will have access to TransUnion’s TruEmpower CyberScout solution, which is designed to... Read more
Published on: 2024-05-09
By Anthony O'Donnell
IICF Midwest gala raises $560,000, honors Jodie Kaufman Davis | Insurance Business America Non-Profits & Charities IICF Midwest gala raises $560,000, honors Jodie Kaufman Davis "I am honored to represent these initiatives" Non-Profits & Charities By... Read more
Published on: 2024-05-09
By Insurance Business America
Article 0 Comments The hacking group accused of disrupting casinos and hotels at MGM Resorts International last year is engaged in a new campaign targeting banks and insurance companies, according to cybersecurity researchers. The group, known as Scattered Spider, has targeted 29 companies since April 20 and successfully compromised the... Read more
Published on: 2024-05-09
By Admin
Article 0 Comments Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker Advantage Sweet was boarded by Iranian military in the Gulf of Oman in... Read more
Published on: 2024-05-09
Remote digital jobs to surge to 92 million by 2030: WEF | Insurance Business America Business strategy Remote digital jobs to surge to 92 million by 2030: WEF 'Global employers need to complement traditional approaches to workforce management with new tools' ... Read more
Published on: 2024-05-08
By Insurance Business America
How does P&C stand to benefit from GenAI? | Insurance Business America Technology How does P&C stand to benefit from GenAI? KPMG report highlights the many use cases for the tech as it transforms the value chain Technology ... Read more
Published on: 2024-05-08
By Insurance Business America
TWIA sets financial preparations for 2024 storm season | Insurance Business America Reinsurance TWIA sets financial preparations for 2024 storm season Half a billion dollars' line of credit also approved Reinsurance By Kenneth Araullo ... Read more
Published on: 2024-05-08
By Insurance Business America
Article 0 Comments A decayed utility pole that broke, causing power wires to fall on dry grass in the Texas Panhandle, sparked the state’s largest wildfire in history, a Texas House committee confirmed last week. And other poorly maintained power equipment sparked four additional fires across the region earlier this... Read more
Published on: 2024-05-08
By Admin
Article 0 Comments While describing cyber insurance as a “fashionable” and profitable business, Berkshire Hathaway’s head of insurance operations said aggregation and loss costs have kept the company away from the risk for the most part. Yes, profitability has been “fairly high” for cyber insurers, but Berkshire Hathaway has been... Read more
Published on: 2024-05-08
Article 0 Comments The Supreme Court has agreed to hear an appeal from a CBD hemp oil maker fighting a lawsuit from a truck driver who says he got fired after using a product falsely advertised as being free from marijuana’s active ingredient. Douglas Horn says he took the product... Read more
Published on: 2024-05-08
By Admin
Article 0 Comments A home health care company failed to protect a visiting nurse who was killed during an appointment with a convicted rapist at a Connecticut halfway house and should be fined about $161,000, federal workplace safety officials said Wednesday. The Occupational Safety and Health Administration released the results... Read more
Published on: 2024-05-08
Article 0 Comments Lloyd’s of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore’s Francis Scott Key Bridge in March that caused widespread disruption, they said last Thursday. Some estimates for the total insured losses from the bridge collapse run into billions of... Read more
Published on: 2024-05-08
Ken Tolson // May 7, 2024 (Image credit: Cash Macanaya/Unsplash.) The question on every organizational leader’s mind these days seems to be how their business can best leverage the power of Generative AI (GenAI). As companies across industries are implementing GenAI solutions to improve operational efficiency and stay ahead of... Read more
Published on: 2024-05-07
By Anthony O'Donnell
Anthony R. O’Donnell // May 7, 2024 (Itai Ben-Zakan, co-founder and CEO of Honeycomb, Nimrod Sadot, Co-Founder & CTO of Honeycomb. Photo credit-Yossi Zeliger. Image source: Honeycomb.) Honeycomb (Denver/Tel Aviv), an InsurTech with the mission of providing simple, fair, and affordable multi-family property insurance, announced that it has raised $36 million... Read more
Published on: 2024-05-07
By Anthony O'Donnell
Anthony R. O’Donnell // May 7, 2024 (Image source: EZLynx.) Citizens Property Insurance Corporation (Tallahassee, Fla.), a not-for-profit, tax-exempt, government entity to provide property insurance to eligible Florida property owners unable to find insurance coverage in the private market, has adopted EZLynx’s (Lewisville, Texas) Rating Engine for more than 7,000 Florida... Read more
Published on: 2024-05-07
By Anthony O'Donnell
Article 0 Comments Cracked steel columns are not “property damage,” but are building products that are not covered by a contractor’s general liability policy, the U.S. 7th Circuit Court of Appeals decided in an opinion that lets St. Paul and other insurers off the hook in a botched construction project... Read more
Published on: 2024-05-07
Article 0 Comments A judge declared a mistrial Thursday after a jury said it was deadlocked and could not reach a verdict in the trial of a military contractor accused of contributing to the abuse of detainees at the Abu Ghraib Prison in Iraq two decades ago. The mistrial came... Read more
Published on: 2024-05-07
By Admin
Article 0 Comments High waters flooded neighborhoods around Houston on Saturday following heavy rains that have already resulted in crews rescuing more than 400 people from homes, rooftops and roads engulfed in murky water. Others prepared to evacuate their property. A wide region was swamped from Houston to rural East... Read more
Published on: 2024-05-06
By Admin
Article 0 Comments Heavy rains in the southern Brazilian state of Rio Grande do Sul killed 39 people, with another 68 still missing, the state civil defense agency said Friday, as record-breaking floods devastated cities and forced thousands to leave their homes. It was the fourth such environmental disaster in... Read more
Published on: 2024-05-06
By Admin
Article 0 Comments Artsana, a maker of child car booster seats, last year agreed to settle claims that it had misled customers about how to use its products, offering $50 to people who had bought Chicco-brand seats. The company, which did not admit wrongdoing in the settlement, knew it sold... Read more
Published on: 2024-05-06
By Admin
Article 0 Comments Geico has settled allegations by the US labor board that it illegally threatened and interrogated upstate New York employees about unionization efforts. The insurance company agreed to post a notice informing employees of their rights and vowing to comply with federal labor law, including a series of... Read more
Published on: 2024-05-06
By Admin
Article 0 Comments A Houston plaintiffs’ attorney known as “Car Wreck Clyde” is awaiting court proceedings after being charged with skimming as much as $2.4 million in client settlement proceeds over the past decade, federal prosecutors said. Clyde J. Moore, 62, and his former office manager, Mark A. Broussard, 63,... Read more
Published on: 2024-05-06
Article 0 Comments MedRisk is acquiring the Casualty Claims Solutions business from Conduent for $240 million. This business encompasses workers’ compensation and auto casualty bill review services, which include the processing of medical bills and clinical services. The sale consists of Conduent’s workers’ comp and auto casualty bill review solutions... Read more
Published on: 2024-05-06
Article 0 Comments The number of wildfires per year is going down, but the increasing size and intensity of the fires is creating more property damage than ever before – in fact, the average fire size has tripled over the past 30 years, a new analysis shows. Wildfire activity is... Read more
Published on: 2024-05-06
Innovative personal auto insurers are winning the race – AM Best | Insurance Business America Motor & Fleet Innovative personal auto insurers are winning the race – AM Best Major advantages for those using automation in claims and underwriting ... Read more
Published on: 2024-05-03
By Insurance Business America
Munich Re launches GenAI co-pilot for client solutions | Insurance Business America Reinsurance Munich Re launches GenAI co-pilot for client solutions It aims to support primary insurers in developing products Reinsurance By Kenneth Araullo ... Read more
Published on: 2024-05-03
By Insurance Business America
“We’re proud to grow Mosaic’s physical presence in New York, and excited to join the Grand Central District’s corporate community,” added Mitch Blaser (pictured right), co-founder and co-CEO. “It is an exciting step that will manifest in greater opportunities for our people, a broader specialty product offering, and enhanced market... Read more
Published on: 2024-05-03
By Insurance Business America
Article 0 Comments A sting operation in Manatee County, Florida, has led to the arrest of 16 men who were working without a contractor’s license and without securing workers’ compensation insurance on their employees. The sting was led by the Manatee Sheriff’s office in cooperation with the Florida Department of... Read more
Published on: 2024-05-03
Article 0 Comments RYZE Claim Solutions added Stuart Myers and Christopher Conti to its board of directors. Myers is the former president and chief operating officer for York Insurance Services, which was acquired by American International Group. At AIG, he was senior vice president of claims services. Recently, Myers was... Read more
Published on: 2024-05-03
Article 0 Comments Dozens of Google workers who were fired after internal protests surrounding a lucrative contract that the technology company has with the Israeli government have filed a complaint with labor regulators in an attempt to get their jobs back. The complaint filed late Monday with the National Labor... Read more
Published on: 2024-05-03
Anthony R. O’Donnell // May 2, 2024 (Image credit: David Guenther/Unsplash.) Origami Risk (Chicago), a provider of risk, safety and insurance SaaS solutions, has announced the launch of its new package of Generative AI (GenAI) solutions for risk managers at the RIMS RISK WORLD conference in San Diego next week, as it... Read more
Published on: 2024-05-02
By Anthony O'Donnell
Article 0 Comments Chubb, the insurer of Baltimore’s Francis Scott Key Bridge that collapsed in March, is preparing to make a $350 million payout to the state of Maryland, the Wall Street Journal reported on Thursday. The payment is expected to be authorized within weeks, the report said, citing a... Read more
Published on: 2024-05-02
By Admin
Claims has ‘structural disadvantage’ in insurance talent challenge – Crawford CEO | Insurance Business America Claims Claims has ‘structural disadvantage’ in insurance talent challenge – Crawford CEO How is the sector tackling the shortage of skilled workers? Claims ... Read more
Published on: 2024-05-02
By Insurance Business America
Sedgwick takes off with new global aviation claims solutions | Insurance Business America Insurance News Sedgwick takes off with new global aviation claims solutions Team highlights rising demand for comprehensive claims management in the sector Insurance News ... Read more
Published on: 2024-05-02
By Insurance Business America
Preparing employees for what's inside a claim | Insurance Business America Insurance News Preparing employees for what's inside a claim Claim files don't always come with a warning Insurance News By Nicole Panteloucos May... Read more
Published on: 2024-05-02
By Insurance Business America
“Erin’s appointment further underscores Ascot’s continued commitment to – and strength in – the excess casualty market, a segment for which we’ve added five talented and experienced underwriters year-to-date,” Canfield said. “Since joining Ascot, Erin has proven herself both a shrewd underwriter and a trusted leader to our underwriters stationed... Read more
Published on: 2024-05-02
By Insurance Business America
Social inflation to drive higher losses for US P&C re/insurers – Moody’s | Insurance Business America Reinsurance Social inflation to drive higher losses for US P&C re/insurers – Moody’s Favorable reserve developments not enough to counterbalance good results Reinsurance... Read more
Published on: 2024-05-02
By Insurance Business America
Oman Re highlights surge in profit in Q1 results | Insurance Business America Reinsurance Oman Re highlights surge in profit in Q1 results Growth fueled by strong underwriting and investment portfolio Reinsurance By Kenneth Araullo ... Read more
Published on: 2024-05-02
By Insurance Business America
AIG sees surge in attributable net income | Insurance Business America Insurance News AIG sees surge in attributable net income Quarterly cash dividend up 11% Insurance News By Terry Gangcuangco May 02, 2024 Share... Read more
Published on: 2024-05-02
By Insurance Business America
Article 0 Comments ClaimsPro added Jeffrey Stenberg to its Specialty Risk Division as an executive general adjuster in the U.S. Stenberg began his insurance career in 1987 performing boiler and machinery loss prevention surveys and jurisdictional inspections at large commercial properties. He has also previously worked as a claim consultant.... Read more
Published on: 2024-05-02
Article 0 Comments Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won’t be renewed because their insurance company has deemed the risk too high. It’s a problem that has played out in states across... Read more
Published on: 2024-05-02
By Admin
Article 0 Comments Auto insurance price rises are expected to decelerate from current heights as claims inflation eases, according to a new economic analysis from Swiss Re. With more adequate pricing returning, competition in auto insurance is beginning to intensify, leading to expectations that underwriting profits will remain challenging in... Read more
Published on: 2024-05-02
Article 0 Comments Florida and federal health officials have determined that 15 infections from a drug-resistant bacteria have been linked to a south Florida clinic that performed Brazilian “butt lift” surgeries in 2022 and 2023. “Multiple lapses in infection control and prevention were found at an outpatient cosmetic surgery clinic... Read more
Published on: 2024-05-02
Are reciprocal insurance exchanges an answer for hard Florida market? | Insurance Business America Catastrophe & Flood Are reciprocal insurance exchanges an answer for hard Florida market? "It's a practical solution," says market analyst Catastrophe & Flood ... Read more
Published on: 2024-05-01
By Insurance Business America
Claims inflation – will things get worse before they get better? | Insurance Business America Claims Claims inflation – will things get worse before they get better? Amwins head breaks down the current landscape Claims By... Read more
Published on: 2024-05-01
By Insurance Business America
State Farm claims reach more than 4,700 following tornado outbreak | Insurance Business America Catastrophe & Flood State Farm claims reach more than 4,700 following tornado outbreak Most of the claims filed across four states Catastrophe & Flood ... Read more
Published on: 2024-05-01
By Insurance Business America
RenaissanceRe publishes Q1 2024 results | Insurance Business America Reinsurance RenaissanceRe publishes Q1 2024 results What has driven the uptick? Reinsurance By Kenneth Araullo May 01, 2024 Share ... Read more
Published on: 2024-05-01
By Insurance Business America
Delos boosts wildfire insurance offering | Insurance Business America Property Delos boosts wildfire insurance offering Expansion made possible by new partnership with Lloyd's underwriters Property By Terry Gangcuangco May 01, 2024 Share ... Read more
Published on: 2024-05-01
By Insurance Business America
Article 0 Comments Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or “Gen AI”) is the term used for technology that is able to generate completely new text,... Read more
Published on: 2024-05-01
By Admin
Article 0 Comments The first quarter of the year saw the sixth straight quarterly increase (.7%) in overall registrations in California in the first quarter from the same period last year, while the state’s love affair with Tesla’s may be getting old, the California New Car Dealers Association reported today.... Read more
Published on: 2024-05-01
Article 0 Comments Dave North is retiring from his role as Executive Chairman of Sedgwick, but plans to remain a member of the company’s board of directors. North’s retirement is effective June 30. North was Sedgwick’s president and CEO from 1995 to 2020. During North’s tenure, the company grew from... Read more
Published on: 2024-05-01
Article 0 Comments Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and winter storms in the United States, as... Read more
Published on: 2024-05-01
By Lisa Howard
Article 0 Comments When a cyberattack on Change Healthcare paralyzed much of the US health-care system, some lawmakers saw it as proof its parent company, UnitedHealth Group Inc., was too big. UnitedHealth Chief Executive Andrew Witty saw it differently. He has said that the company’s size kept the hack, which... Read more
Published on: 2024-04-30
By Admin
Article 0 Comments Berkshire Hathaway Inc.’s PacifiCorp now faces a demand for $30 billion from victims of Oregon’s 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the western US. While the amount sought in an amended complaint filed Monday is about two... Read more
Published on: 2024-04-30
By Admin
Article 0 Comments Progressive Insurance aims to hire thousands to support several years of year-over-year growth, according to a media statement. At Progressive, the company is looking for qualified candidates within teams including: The claims organization is looking to fill positions ranging from entry-level claims trainee to in-the-field adjuster roles... Read more
Published on: 2024-04-30
Anthony R. O’Donnell // April 29, 2024 (Image source: Neoreasoning homepage.) Neoreasoning, a startup aiming to deliver innovative solutions that empower title insurers and provide a superior customer experience, has launched a new technology product designed to automate title insurance claims handling using the cutting edge of generative AI and... Read more
Published on: 2024-04-29
By Anthony O'Donnell
Article 0 Comments The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault auto insurance law and may have finally put to rest years of questions about the much-debated statute. In answering a certified question from a federal appeals court,... Read more
Published on: 2024-04-29
By William Rabb
Article 0 Comments States across the Great Plains in the US are bracing for possible severe thunderstorms — which may include tornadoes and hail. The areas at risk include parts of Iowa, Nebraska, Kansas and Missouri Friday and that expands into Oklahoma and Texas on Saturday, the US Storm Prediction... Read more
Published on: 2024-04-29
By Admin
Article 0 Comments A judge has declined to dismiss hundreds of lawsuits filed against rap star Travis Scott over his role in the deadly 2021 Astroworld festival in which 10 people were killed in a crowd surge. State District Judge Kristen Hawkins issued a one-page order denying Scott’s request that... Read more
Published on: 2024-04-29
By Admin
Article 0 Comments HomeServices of America, a real estate brokerage owned by Berkshire Hathaway Inc., reached a settlement agreement in a lawsuit taking aim at agent commissions industrywide. The brokerage agreed to pay a total of $250 million over the course of four years in its settlement of the Missouri... Read more
Published on: 2024-04-29
By Admin