Delta Offers $30,000 to Passengers After Crash-Landing in Toronto
Delta Air Lines is offering $30,000 to each passenger of Flight 4819, which crash-landed and flipped upside down in Toronto. Investigators are still determining the cause of the accident.
February 20
Insurance Industry
Litigation
Risk Management
Minnesota
US P&C Insurance Industry Improves in 2024 Despite Underwriting Losses
Higher interest rates and improved underwriting have helped the US property and casualty insurance industry recover in 2024, with continued growth and profitability expected in 2025.
February 20
Auto
Insurance Industry
Property
Risk Management
South Carolina’s Liquor Liability Insurance Market Faces Deepening Crisis
South Carolina’s liquor liability insurance market has been unprofitable since 2017, with insurers losing $1.77 for every $1.00 earned. Claim frequency far exceeds neighboring states, intensifying concerns.
February 20
Insurance Industry
Legislation & Regulation
Liability
Risk Management
Florida
Georgia
North Carolina
South Carolina
How Quantum Computing Could Reshape Cyber Risk and Encryption Security
Quantum computing’s rapid advancements may challenge traditional encryption, creating new cybersecurity risks. Experts emphasize the need for proactive defenses and cyber insurance strategies.
February 18
Legislation & Regulation
Risk Management
Technology
How AI Transformed Insurance Claims Processing in 2024
The final installment of the 2024 Global InsurTech Report explores how artificial intelligence is transforming the insurance claims process, from first notice of loss to settlement, while tracking investment trends in the InsurTech sector.
February 18
Insurance Industry
Property
Risk Management
Technology
Florida’s Insurance Market Shows Signs of Recovery, but Reinsurance Challenges Persist
Florida’s insurance market is stabilizing, with reinsurance supply outpacing demand for the first time in years. However, challenges remain, particularly in the lower layers of reinsurance coverage, where costs continue to rise.
February 17
Catastrophe
Legislation & Regulation
Property
Florida
Saint Vincent’s to Pay $29M Over Alleged False Claims Act Violations
Saint Vincent’s Catholic Medical Centers of New York will pay $29 million to settle allegations of False Claims Act violations related to overpayments from the Department of Defense for healthcare services provided to retired military members and their families.
February 17
Fraud
Insurance Industry
Legislation & Regulation
Litigation
Maine
New York
Nevada Woman Admits to Filing $98M in Fraudulent COVID-19 Tax Credit Claims
Las Vegas resident admits to conspiracy in filing over 1,200 false tax returns, securing $33M in fraudulent IRS refunds for personal gain.
February 17
Fraud
Insurance Industry
Legislation & Regulation
Litigation
Nevada
Two Fraudsters Admit to $577 Million Cryptocurrency Scam
Two Estonian men have pleaded guilty to running a $577 million cryptocurrency Ponzi scheme that defrauded hundreds of thousands worldwide. They now face up to 20 years in prison.
February 17
Fraud
Legislation & Regulation
Litigation
Technology
Washington
Fast-Food Workers Face Growing Risks as Customer Violence Escalates
As fast-food employees prepare meals, they also face an increasing risk of customer aggression. Recent violent incidents highlight the dangers of frontline service jobs.
February 14
Legislation & Regulation
Liability
Risk Management
Workers' Compensation
Michigan
Oregon
Tennessee
What Happens if OSHA Is Eliminated? The Potential Impact on Workplace Safety and Workers’ Compensation
A proposed bill seeks to abolish OSHA, shifting workplace safety to individual states. The move could increase injuries, raise workers’ compensation costs, and create legal and financial challenges for employers and insurers.
February 14
Legislation & Regulation
Liability
Risk Management
Workers' Compensation
Arizona
Tech-Powered Fraud Prevention in Insurance
AI, blockchain, and biometric verification are transforming fraud detection in insurance. These technologies enhance security, streamline claims processing, and prevent financial losses.
February 14
Fraud
Insurance Industry
Risk Management
Technology
Four Pharmacists Sentenced for $13 Million Health Care Fraud Scheme
Four pharmacists were sentenced for defrauding Medicare, Medicaid, and private insurers of over $13 million by billing for medications they never dispensed at multiple pharmacies.
February 14
Arizona
Michigan
Ohio
Ohio Insurance Agent Sentenced for $1.4 Million Fraud Scheme
Former Ohio insurance agent Rhonda Chandler received probation and faces prison if she violates terms after pleading guilty to stealing over $1.4 million in pre-need funeral insurance funds.
February 14
Fraud
Insurance Industry
Life & Health
Litigation
Ohio
How AI Is Transforming the Life Insurance Industry
Artificial intelligence is revolutionizing life insurance by enhancing efficiency, improving customer experiences, and reshaping risk management, while also introducing new challenges.
February 14
Insurance Industry
Life & Health
Risk Management
Technology
