Things are looking pretty rough for GEICO, as not only did the insurer recently suffer a data breach, but it was also discovered that the hackers responsible are using consumers’ compromised information to fraudulently apply for unemployment benefits.
When combating insurance fraud, there are three watchwords to keep in mind: detect, deter, and refer. You detect fraud to deter perpetrators, and refer all suspicious activity to your special investigation unit.
With the end of the pandemic now a distinct possibility, Canadians are expecting the property and casualty insurance industry to up its game in customer service, industry execs observed in a recent webinar.
As a famous truant once observed, "life moves pretty fast." Today’s homeowner risks include technologies that were barely invented a decade ago, demographic trends that hadn’t fully emerged, and a plant that (depending on where you live) may no longer get you in trouble.
A Sompo International Holdings Ltd. unit has filed suit seeking a declaration it is not obligated to indemnify the helicopter company that allegedly arranged the flight in which basketball star Kobe Bryant and his daughter were killed last year.
Our industry is diversifying, and that diversity has been a force for growth and innovation. Decades of work and progress have yielded more women in leadership roles, a more diverse workforce and a greater emphasis on recruiting talent from varied backgrounds and geographies.
A new book co-written by behavioral economist extraordinaire Daniel Kahneman points out a major problem that numerous industries, including insurance, only sort of know they have and is surely worse than they recognize.
Insurers have increased their estimates of the cost of the three hurricanes that struck Louisiana by 25 percent since the end of last year, according to Louisiana Insurance Commissioner Jim Donelon.
Attorneys are generally mindful of placing too much faith in the work-product doctrine, especially in view of its uneven application in different jurisdictions across the country.
Every year, risk professionals, insurance company claims teams and third-party administrators collectively spend anywhere from several hundred to more than 1,000 hours conducting workers’ compensation claim reviews—unfortunately, too often with suboptimal results.
Social inflation is a huge pain point in US liability insurance. It is a term used to describe the phenomenon of rising costs of insurance claims resulting from increased litigation, broader definitions of liability, more plaintiff-friendly legal decisions, and larger (sometimes nuclear) compensatory jury awards.
As normality filters back into American lives after a year of lockdowns, hospitals and other institutions are busy making provisions for one aspect of that old normal they would rather consign to the past - mass shootings.
About 80 people in a city in northwest Iowa were evacuated on Sunday afternoon after part of a Union Pacific train hauling hazardous materials, including fertilizer and asphalt, derailed and then caught fire, officials said.
Last month, Florida lawmakers passed tort reform legislation by extending COVID-19 liability protection to businesses and health care providers, but Florida’s construction industry says they’re facing a form of lawsuit abuse that lawmakers failed to address.
