Insurance is a data-centric industry. Whether it’s detailed customer information, employee performance success rates or industry trends, agencies are always collecting data. The idea of harnessing this data for better decision-making isn’t a new concept for insurance agencies. However, the …
BLUE SPRINGS, Mo. (AP) — A $4.2 million verdict that jurors ordered a Missouri school district to pay a transgender student is under consideration again. The Western District Missouri Court of Appeals found that a judge erred in ordering a …
Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly to data-driven AI …
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from higher inflation and supply …
GEICO Insurance companies have continued their campaign against alleged auto insurance fraud actors, including some well-known physicians and medical clinics. And a federal judge ruled in June that two of those practitioners cannot escape a $2.8 million lawsuit in North …
Multiple companies in the United States and Canada experienced a record number of cyber extortion events in 2023 and unprecedented demands, a new report from Marsh shows. The report, Ransomware: A persistent challenge in cyber insurance claims, also showed an …
The New Jersey Supreme Court has ruled that all commercial landowners — including owners of vacant commercial lots — have a duty to maintain the public sidewalks abutting their property in reasonably good condition and are liable to pedestrians injured …
Demand for technology-related products such as computer chips, semiconductors, electric vehicle batteries and embedded software is rapidly increasing in today’s tech-driven society, which is in turn increasing demand — and opportunities — for manufacturers. But as manufacturers strive to meet …
Uber can require that a passenger seriously injured in a crash involving an Uber driver go to arbitration over his $63 million damages claim without a trial, the highest court in Massachusetts recently ruled, overturning a lower court. The Massachusetts …
How are insurers viewing the solar and renewable energy markets? While large risks likely have no problem, smaller to middle risks may face difficulty. “I certainly think there’s a gap in the smaller risk area,” said Loren Henry, vice president, …
