A former ICBC insurance adjuster who defrauded the Crown corporation of over $420,000 to pay for a gambling addiction has been sentenced to two years in jail.
Florida’s Insurance Commissioner says claims solicitation is raising the cost of Florida’s property insurance industry for both consumer and provider. David Altmier told a Senate panel Tuesday that rates for property owners will continue to rise unless something is done.
It’s long been established that warming temperatures cause more frequent and intense precipitation. But placing a dollar value on the contribution of climate change to storm damage has been tricky.
Former Chargers tight end Antonio Gates and his wife are suing AIG Property Casualty Co., alleging the insurer breached a contract to compensate them for a nearly $1 million burglary at their Encino home.
Updated Highway Loss Data Institute research into rear autobraking found the ADAS technology cut property damage liability claims 28 percent and collision claims 10 percent, the Insurance Institute for Highway Safety said Thursday.
The most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business.
As the New Year begins, the time for reflection has arrived. After a year that nobody could have predicted, I look to summarize three defining trends that developed last year and give my own prediction about the future of insurance as we begin the journey of 2021.
A record hurricane season and wildfires generated by climate change led to $210 billion in losses from natural disasters globally, a new report released Thursday said. The Atlantic Ocean saw more hurricanes than ever during the past season and the western United States experienced historic wildfires, fueled by the second-warmest year on record, the report by global insurer Munich Re said.
The use of deepfake video and audio technologies could evolve into a major cyber threat to businesses within the next two years, according to cyber analytics specialist CyberCube.
While 2020 was an unusual year, it highlighted many of the things the insurance industry is doing well and some areas where it could see some improvement.
As insurers accelerate their digital transformation and customize solutions in areas like customer engagement and data management, they are realizing that they must overhaul traditional approaches and infrastructures and replace them with forward-looking, cloud-enabled solutions.
