As deepfakes quickly advance in terms of sophistication, they can be scarily convincing, as we’ve seen in some examples. And what’s more, they’re becoming increasingly popular with cybercriminals, as these technologies become even easier to use.
The old adage ‘You can’t judge a book by its cover’ may be true when it comes to reading the latest novel from your favorite author, but when it comes to independent medical examinations (IME), the cover letter means everything.
Digital claim reporting dropped in 2022, and it’s a ‘worrying sign’ for insurance companies. Increasing cycle times have made it harder for insurers to keep customers up to date on their claims through digital channels, while an increase in severity has driven down digital claims, Mark Garrett, director, insurance intelligence at JD Power has warned.
Business email compromise (BEC), also known as ‘CEO fraud,’ is one of the most expensive forms of cyberattack, yet companies continue to overlook it as a significant and active threat to their bottom lines.
Many new entrepreneurs or those in the gig economy consider on-demand insurance the greatest invention since sliced bread. And insurtech companies couldn’t be happier.
As a general rule, if a policyholder reasonably attempts to settle a case for an amount at or within the limits of its insurance policy, the insurance company must put the policyholder’s interests above its own.
Climate change and its long-term implications have a serious and tangible impact on companies. According to NOAA’s National Centers for Environmental Information, the United States alone has sustained 341 weather and climate disasters since 1980 in which total damages reached at least $1 billion. The total cost of these disasters was $2.475 trillion.
The fight against climate change is a complex one, and it will require unprecedented collaboration between businesses, governments and nations. Fortunately, trust and transparency is where blockchain technology excels.
The Ohio Department of Insurance director, Judith L. French, has reported that there is a new trend in Ohio where individuals are committing insurance fraud after auto accidents or property damage.
The insurance industry worldwide is investing in AI-powered insurance chatbots to help boost the customer experience they can provide, even as they face their largest ever hiring shortage.
One by one, states have begun to recognize a vehicle owner’s third-party claim for residual diminished value damage, or ‘stigma damage’, which is the loss of value of an automobile that remains after it is completely and professionally repaired. It is the loss of value that results from the simple fact that the vehicle has been in an accident.
A federal district court has refused to entirely dismiss COVID-19 business interruption litigation filed by the owner of several Washington, D.C., professional sports teams, based on its coverage’s communicable disease provisions.
Internet of Things (IoT) technology offers homeowners the ability to predict and prevent costly damage to their dwellings and other property -- and it also may help head off devastating natural catastrophes.
Many advanced technologies can reduce the number of lives lost on U.S. roads, but full or partial automation is not one of them, David Harkey, president of the Insurance Institute for Highway Safety, said in a virtual Capitol Hill briefing March 7.
