There has been a marked increase in public announcements from regulators in recent months, both in the United States and internationally, relating to climate change and about embedding consideration of climate change-related risks into regulation of financial institutions.
GM announced this week that it will start selling policies directly to drivers through its new OnStar Insurance program. The company will start with its employees in Arizona and plans to expand to the general public by the end of 2021.
As many of you know, my primary professional interest and focus has long been on the impact of information technology on insurance ecosystem transformation. But today I’m addressing a very different subject.
A tornado hit the Arlington area Tuesday night as a line of thunderstorms pounded North Texas, leaving damage in Arlington and Grand Prairie, according to the National Weather Service in Fort Worth and local authorities.
When Helen Witty’s 16-year-old daughter was killed by a drunk and drugged driver, in her grief she found some comfort in a single word: crash. While most of those around her were referring to her daughter’s death as an accident, Witty says that one word—crash—helped her change her perception and heal.
Bruce Carnegie-Brown, chairperson at Lloyd’s of London, announced that the global pandemic insurance losses this year will be higher than what they had previously estimated.
Accenture reports that the global market for blockchain in insurance is expected to grow to $1.39 billion by 2023. There are countless use cases for blockchain in insurance, as it is an industry of contract execution, detailed and confidential data collection, and third-party payments.
The U.S. is making General Motors recall and repair nearly 6 million pickup trucks and SUVs equipped with potentially dangerous Takata air bag inflators.<br />The decision announced Monday by the National Highway Traffic Safety Administration will cost the automaker an estimated $1.2 billion, about one third of its net income this year.
Two long-standing insurance and risk management education organizations in the United States have announced the completion of an affiliation agreement. Effective November 16, 2020, the Insurance Information Institute (Triple-I) and The Institutes will partner more closely and will empower each other to serve both the information and education needs of those interested in risk management and insurance.
Innovations will not be discovered, developed and scaled by groups of like-minded people of similar background. Solutions will demand diversity and inclusion leapfrogs.
As with most troubling developments, the pandemic has accelerated insurance fraud trends as pressures from economic uncertainty moves individuals and businesses to act less than ethical at a time when carriers are facing a slew of challenges from COVID-19.
There’s a needle-like frustration to be met with the message “this website is blocked.” If it happens once, well, move on, and hopefully it wasn’t something you really needed to look at. But, if you encounter that message consistently in the process of doing your job, that frustration will mount, causing you to write an article on the topic.
The United States is no stranger to periods of often intense civil unrest. From the 1907 “Bellingham Riots” to the fractious tumult of the civil rights and Vietnam era, U.S. history is littered with bouts of violent upheaval.
