Editors’ Pick News

AIG Singapore Launches Online Motor Accident Reporting Platform

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched an online motor accident reporting platform that allows policyholders to make accident reports and commence the claims process online. Designed to streamline the customer experience, AIG Singapore said, the platform …

North Carolina Proposes Rules for Opioid Use in Workers’ Comp Cases

The North Carolina Industrial Commission has proposed new rules related to the utilization of opioids, related prescriptions, and pain management treatment as a proactive measure aimed at curtailing opioid misuse and addiction in workers’ compensation claims, according to a statement …

Self-Driving Technology Being Developed to Enable Driving on Snowy Roads

Self-driving cars may be the future, but relinquishing control of the wheel certainly takes some getting used to. It’s one thing to go (slowly) with the flow on well-marked city streets, for which many self-driving cars were initially developed and …

Workplace Fatalities Continue to Increase, with Transportation Incidents #1 Cause

There were 5,190 workplace fatalities reported in the U.S. in 2016, a seven percent increase over the previous year. According to the Bureau of Labor Statistics’ Census of 2016 Fatal Occupational Injuries, the fatal injury rate increased from 3.4 per …

New Product Uses Blockchain to Show Proof of Insurance

The Institutes’ work with insurers in the blockchain space has led to a debut product – a tool designed to establish proof of auto insurance. Nationwide is the first carrier to bring it to production and is already in testing …

What They Are Saying About Effects of Trump Tax Cuts on Insurance Industry

Congress has passed and President Donald Trump has signed the Tax Cuts and Jobs Act (HR1) into law. It is the biggest tax change in 30 years. Under the legislation, insurers, agencies and other businesses organized as C corporations will …

Reinsurance Price Hikes May Be Short-Lived as Capacity Is Abundant

While overall market conditions may improve over the near term as a result of catastrophe events in the third quarter of 2017, A.M. Best continues to hold a negative outlook for the global reinsurance sector in 2018. In a new …

California Commissioner Asks Insurers to Forego Detailed Home Inventories in Wake of Wildfires

California Insurance Commissioner Dave Jones is asking insurers to help California wildfire survivors by providing relief from detailed home inventories and to provide up to 100 percent of contents coverage limits without a detailed inventory. “These families have endured unimaginable …

How Bitcoin Is Fueling Ransomware Insurance Claims

Hey, want those photos and files back? It may cost more than it used to. Thank bitcoin. Chubb Ltd., best known for catering to wealthy families and corporations, is among at least three insurers facing a jump in costs tied …

Employers, Workers’ Compensation Carriers Eye Trend in Telehealth: Telerehab

Though employers and workers’ compensation insurers have been utilizing telemedicine for quite some time, there’s been a recent uptick in interest surrounding virtual physical therapy, also known as telerehab. Telerehab provides virtual access to physical therapy and is intended to …