Surge in U.S. Auto Insurer Claim Payouts Due to Economic and Social Inflation
The latest Insurance Information Institute (Triple-I) research indicates that between 2013 and 2022, economic and social inflation fueled a $96 to $105 billion increase in combined claim payouts for U.S. personal and commercial auto insurer liability.
October 3, 2023
Auto
Insurance Industry
Risk Management
How Sports Are Insured
While on-field activities get the attention, an army of professionals works behind the scenes to conduct the business of sports. Whether the sport is football, soccer, basketball or even eSports, all have one thing in common — they require insurance.
October 3, 2023
Liability
Life & Health
Risk Management
Workers' Compensation
Tesla Owners Must Arbitrate False Advertising Claims over Autopilot Feature
A California federal judge has ruled that a group of people who own cars made by Tesla Inc TSLA.O must pursue claims that the company misled the public about its autopilot features in individual arbitration rather than court.
October 3, 2023
Auto
Litigation
Technology
California
Americans Skeptical of AI Insurance Agents, Survey Reveals
A recent survey conducted by the online insurance agency, GetSure, has revealed that a significant number of Americans are hesitant about the idea of interacting with AI insurance agents. This finding sheds light on the sentiments of the nation, potentially comforting the country’s 1.6 million human insurance agents.
October 2, 2023
Insurance Industry
Technology
Spotting the Pitfalls: Understanding Medicare Treasury Claims and Learning How to Avoid Them
The increasing number of U.S. Department of Treasury actions regarding delinquent Medicare Part A and B conditional payment claims is a growing challenge facing non-group health plans (NGHPs).
October 2, 2023
Life & Health
Disney ride caused serious ’gynecologic injuries’ for woman after waterslide ’wedgie’ during 30th birthday celebration
A woman says that a trip down a waterslide at a Disney World theme park ended in injuries serious enough to require surgery.
October 2, 2023
Liability
Litigation
Weird
Florida
Attacking the Risk Crisis: Roadmap to Investment in Flood Resilience
As part of its attack on the risk crisis, Triple-I recently participated in a project led by the National Institute of Building Sciences (NIBS) to develop a roadmap for mitigation investment incentives.
October 2, 2023
Catastrophe
Liability
Risk Management
Safety Lesson: Cigarette Sparks Car and Home Fire
A woman hopping inside a Dodge Charger for a cigarette sparked an explosion that destroyed the car, burned down a significant portion of her home and left her with third-degree burns.
September 28, 2023
Auto
Property
Weird
North Carolina
Cost of a Data Breach 2023: Geographical Breakdowns
Data breaches can occur anywhere in the world, but they are historically more common in specific countries. Typically, countries with high internet usage and digital services are more prone to data breaches.
September 28, 2023
Excess & Surplus Lines
Owners Advised to Park Outside in 3.3M Hyundai and Kia Recall
Hyundai and Kia are initiating a recall of more than 3.3 million vehicles due to a potential fire hazard in the engine compartments. Owners are advised to park their vehicles away from structures until they can have them repaired at a dealership for free.
September 28, 2023
Auto
Subrogation
Hawaiian Electric’s Neglected Right-of-Way Possibly a Key Factor in Maui’s Wildfire
Melted remains of an old car tire. Heavily burned trees. A charred stump of an abandoned utility pole. Investigators are examining these and other pieces of evidence as they seek to solve the mystery of last month’s deadly Maui wildfire...
September 28, 2023
Liability
Hawaii
Insurers’ Flawed Understanding of ROI
The industry’s traditional assessments of ‘returns’ are not suited to the insurance company of the future.
September 28, 2023
Insurance Industry
California’s New Firefighting Ally is Artificial Intelligence
Firefighters want every leg up they can get to knock out a blaze before it becomes an inferno. The California Department of Forestry and Fire Protection says it has a new tool to battle wildfires before they explode -- artificial intelligence.
September 28, 2023
Property
Technology
California
Berkshire Off Hook in Sexual Assault on School Bus
A federal appeals court has reversed a lower court and held that a Berkshire Hathaway Inc. unit does not have to defend or indemnify the Pittsburgh Public School District or a bus company in a special needs student’s sexual assault aboard a school bus.
September 27, 2023
Liability
Litigation
Pennsylvania
Dispute Over Cigarette Ends in Anchorage Apartment Fire
A federal grand jury in Alaska has returned an indictment against 24-year-old Paul Bates of Anchorage, charging him with intentionally starting a fire in an apartment building on October 30, 2022.
September 27, 2023
Property
Weird
Alaska
