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Legal System Exploitation Drives Up Costs for US Casualty Insurers, AM Best Reports

Legal System Exploitation Drives Up Costs for US Casualty Insurers, AM Best Reports

Abuse of the U.S. legal system and social inflation significantly increase loss costs for casualty insurers, challenging loss ratios and reserve adequacy.
May 13, 2024 Liability Litigation

Revolutionizing Payment Systems in the Insurance Industry

Revolutionizing Payment Systems in the Insurance Industry

Modernizing payment systems in insurance is crucial to meet evolving consumer preferences and enhance security and efficiency.
May 13, 2024 Insurance Industry Legislation & Regulation Risk Management Technology

Overworked and Overwhelmed: Adjusters Voice Concerns Over High Claim Volumes

Overworked and Overwhelmed: Adjusters Voice Concerns Over High Claim Volumes

In an eye-opening discussion on Reddit, claims adjusters from various companies share their struggles with high volumes and burnout.
May 10, 2024 Insurance Industry Workers' Compensation

Supercell Storms Unleash Giant Hail in Central Texas

Supercell Storms Unleash Giant Hail in Central Texas

Supercell thunderstorms cause significant damage in Central Texas, with reports of hail as large as CDs.
May 10, 2024 Catastrophe Insurance Industry Risk Management Texas

The Future of AI in Workers Compensation Claims Management

The Future of AI in Workers Compensation Claims Management

Artificial intelligence is set to revolutionize workers compensation claims, with AI teams providing holistic support to human adjusters.
May 10, 2024 Insurance Industry Risk Management Technology Workers' Compensation

California Jury Awards $18 Million in Bad Faith Insurance Case

California Jury Awards $18 Million in Bad Faith Insurance Case

A jury in San Bernardino awards substantial damages to two sisters after their insurance company failed to adequately compensate them for flood damage.
May 10, 2024 Catastrophe Insurance Industry Litigation Property California

Study Reveals Increased Workplace Accidents Due to High Heat

Study Reveals Increased Workplace Accidents Due to High Heat

A new report by the Workers Compensation Research Institute highlights a 5-6% increase in work-related accidents when temperatures exceed 90 degrees, particularly in the southern U.S. and construction industry.
May 10, 2024 Insurance Industry Life & Health Risk Management Workers' Compensation

Appeals Court Reverses Summary Judgment in Pork Processor Worker Injury Case

Appeals Court Reverses Summary Judgment in Pork Processor Worker Injury Case

The Iowa Court of Appeals reverses a premature summary judgment in a case involving a staffing agency worker injured by a forklift.
May 10, 2024 Insurance Industry Legislation & Regulation Litigation Workers' Compensation Iowa

North Carolina Auto Shop Owner Charged with Multiple Frauds

North Carolina Auto Shop Owner Charged with Multiple Frauds

A North Carolina auto shop owner faces serious charges including insurance fraud and car title application fraud, following a comprehensive investigation.
May 10, 2024 Auto Fraud Insurance Industry Legislation & Regulation North Carolina

Former NBA Player Glen Davis Sentenced in Health Care Fraud Scheme

Former NBA Player Glen Davis Sentenced in Health Care Fraud Scheme

Glen Davis, former NBA champion, is sentenced to 40 months for his involvement in defrauding the NBA Players’ Health and Welfare Plan.
May 10, 2024 Fraud Insurance Industry Life & Health Litigation

International Jewelry Thief Nabbed After High-Profile Heists in New York

International Jewelry Thief Nabbed After High-Profile Heists in New York

After a series of audacious jewelry thefts spanning continents, Yaorong Wan’s criminal spree ends with an arrest in New York City.
May 9, 2024 Catastrophe Fraud Litigation Property California New Jersey New York

Progressive Reforms Alleviate Florida’s Property/Casualty Insurance Crisis

Progressive Reforms Alleviate Florida’s Property/Casualty Insurance Crisis

Florida’s property/casualty insurance landscape begins to stabilize following significant legislative reforms and a calm hurricane season, despite ongoing challenges.
May 9, 2024 Catastrophe Insurance Industry Legislation & Regulation Property Florida

Majority of Astroworld Wrongful Death Lawsuits Settled, One Remains

Majority of Astroworld Wrongful Death Lawsuits Settled, One Remains

As most Astroworld wrongful death claims reach settlements, the final pending case highlights ongoing concerns over concert safety.
May 9, 2024 Catastrophe Insurance Industry Legislation & Regulation Liability Texas

Scattered Spider Hackers Escalate Attacks on Financial and Insurance Sectors

Scattered Spider Hackers Escalate Attacks on Financial and Insurance Sectors

Scattered Spider targets leading financial institutions and insurance companies, escalating cybersecurity threats with sophisticated phishing schemes.
May 9, 2024 Fraud Insurance Industry Technology

Comprehensive Strategies in Cybersecurity Insurance for Modern Businesses

Comprehensive Strategies in Cybersecurity Insurance for Modern Businesses

Explore how businesses can bolster defenses and manage risks through innovative cybersecurity insurance solutions in a digitally driven marketplace.
May 9, 2024 Insurance Industry Risk Management Technology
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