Aon’s 2024 survey reveals that most business leaders are struggling to adapt to key megatrends, including trade, technology, climate, and workforce changes, to better manage risk.
Iowa’s Insurance Division issued cease-and-desist orders against four roofers for acting as unlicensed public adjusters, sparking debate on whether contractors can assist homeowners with their insurance claims. The state’s crackdown highlights growing concerns over fraud and misrepresentation in the wake of frequent windstorms and natural disasters.
While the buddy system is often praised for improving worker safety in high-risk environments, experts warn of potential downsides, including inconsistent practices, cost concerns, and reduced management oversight.
A Miami rehab clinic owner, along with two employees, are facing over two dozen felony charges after an undercover investigation revealed alleged insurance fraud and billing for unperformed services.
American Transit Insurance Co., a key insurer for NYC taxis and rideshare vehicles, faces insolvency, risking disruption for tens of thousands of drivers as regulators consider intervention.
General contractors in Florida face growing legal hurdles in apportioning fault to subcontractors due to the nondelegable duty of supervision, with courts increasingly placing full liability on the contractor.
The catastrophe bond market has reached unprecedented levels, recording $12.2 billion in new transactions and pushing total capital to $45.6 billion, driven by growing risk transfer needs.
Artificial intelligence is reshaping insurance by enhancing risk assessment, improving customer experience, and streamlining operations. However, ethical challenges, regulatory hurdles, and high costs remain obstacles.
Skyline Partners’ FatTrack trigger mechanism led to a swift payout under a parametric insurance policy for Jamaican farmers after Hurricane Beryl, highlighting its efficiency in handling weather-based claims.
Nurse Case Managers play a critical role in workers’ compensation, focusing on guiding injured workers back to gainful employment while ensuring safe accommodations are in place to prevent re-injury or setbacks.
AI is transforming insurance fraud detection, with leading companies like State Farm, Ping An, and IBM developing cutting-edge algorithms to identify fraudulent claims and protect insurers.
Verisk’s 2024 Global Modeled Catastrophe Losses Report reveals that urban expansion and inflation have pushed average annual global natural catastrophe losses to $151 billion, highlighting the growing challenges for insurers.
The Insurance Information Institute’s white paper emphasizes the crucial role of property and casualty insurers in leading the ethical development and application of artificial intelligence.
Implementing early case assessment strategies is crucial for claims departments looking to reduce unnecessary litigation and lower overall costs. Discover five proven tactics to streamline your ERA process and improve outcomes.
The construction industry faces rising costs, labor shortages, and the adoption of new technologies as it prepares for the future, requiring strategic planning and innovation to navigate these challenges effectively.
