Risk managers didn’t think there could be a bigger curveball than 2020. A global pandemic, a massive hurricane season and geopolitical unrest combined forces to make 2020 a year to remember as we faced both new risks and ones that have grown familiar over the last few years.
While the traditional view of claims is that it sits towards the back of the value chain, that is changing, a speaker said Wednesday during KPMG’s 30th annual insurance conference. The evolving role of claims was one of four macro (or high-level) trends discussed during the Reimagining Operations session at the virtual conference.
California has been a hotbed of litigation regarding COVID-19 business interruption claims. The vast majority of the trial courts have held in favor of insurers and against businesses.
Crawford & Company, the world’s largest publicly listed independent provider of claims management and outsourcing services to carriers, brokers and corporations, and global professional services firm Aon have announced the joint publication of the Aon|Crawford Guide to Successfully Managing Cyber Claims.
Canada’s property and casualty insurance industry was already facing the oft-mentioned ‘war for talent,’ and now it has to contend with a newer talent crunch: The ‘Great Resignation.’
Machine learning techniques can turn the critical task of identifying changing patterns of claims development and make it a more rewarding activity for both those doing the searching and those who use the information to make decisions.
While ransomware remains a plague on organizations around the world, a new report from commercial insurance firm Corvus indicates that ransomware costs are being cut considerably due to better preparedness.
The West Virginia Supreme Court said Monday a lower court’s order prohibiting insurers from pursuing litigation against an opioid pharmaceutical distributor in other states was overly broad.
The Louisiana Department of Insurance said that the board of directors of the Louisiana Citizens Property Insurance Corp. (Citizens) has voted to increase the amount of commercial property insurance coverage available to businesses to ensure they can acquire sufficient coverage through Citizens if they are not able to secure coverage in the private market.
Floods and landslides that have killed at least one person have cut all rail access to Canada’s largest port in the city of Vancouver, a spokesperson for the port said on Tuesday.
In his 2015 stand-up special The Comeback Kid, stand-up comedian John Mulaney joked that the government had ‘[become] like cool parents’ when it came to marijuana. It’s a claim many an onlooker would agree with.
In Naabani Twin Stars, LLC v. St. Paul Fire & Marine Insurance Co., the Tenth Circuit Court of Appeals held that St. Paul Fire and Marine Insurance Co. has no duty to cover damage that occurred when a building’s underlying soil collapsed, but not the building itself, due to a burst water pipe under an adjacent parking lot.
The death of an employee is certainly a difficult matter for an employer, even when the employee’s death happened away from the workplace and was in no way related to work.
Just a bit more than a year ago, a driver made a phone call to their insurance company — and made history. How? Well, the insurance claim that followed was the first-ever completely touchless claim — in that it was entirely carried out by a trained artificial intelligence (AI).
