Gage Wilson and David Segal, technicians for the U.S. Geological Survey, were roaming the obliterated city of Mexico Beach when they spotted the missing sensor. It was a barometer that USGS employees had deployed in advance of Hurricane Michael, a pressure gauge housed inside a two-inch-diameter aluminum tube. The employees had noted the specific spot where it was to measure the storm: “Barometer located on second light post from Highway 98 in pier parking lot.” But there was no more light post after Michael destroyed just about everything here with a massive storm surge and intense winds when it made landfall Oct. 10. The USGS desperately needed that sensor to make an accurate estimate of the storm surge that barreled through Mexico Beach.
An Oklahoma jury has awarded $25.5 million to the family of a cancer patient denied coverage by Aetna, with jurors saying that the insurer acted "recklessly" and that the verdict was meant as a message for Aetna to change its ways.
At InsureTech Connect, there were a lot of innovative approaches and capabilities on display. But the term “bubble” could be heard on many attendees’ lips, especially those who’d watched the event double in size each year.
Out of the catalogue of technologies that have the potential to affect the insurance industry, one expert says that artificial intelligence is on track to have the most significant impact in the coming year. In fact, insurers’ investments in AI are increasing on a year-over-year basis, and this trend is set to continue into 2019.
As they worked this week to save lives, firefighters and police officers in Paradise had their own personal fear in the back of their minds: Will my home survive the onslaught of the Camp Fire? For many, the unfortunate answer is no.
The forecast for crews battling the California wildfires was anything but promising Monday. Near hurricane-force gusts may be in the cards for some already scorched areas.
Well, it has been another banner week in the news. This week saw the culmination of the latest and greatest “most important election in our lifetime,” one that had just a couple eyebrow raising moments.
In recent years, we have witnessed a technological revolution that is historic, impressive and even a bit overwhelming. From the introduction of smartphones to cloud computing to artificial intelligence, the frenetic pace of innovation has led to efficiencies that never before seemed possible. For businesses, the access to information is equally profound. Accurate and timely data facilitates sound decisions in terms of protecting assets, mitigating loss and meeting fiduciary responsibilities.
Hurricane Florence caused about $140 million in damage at UNC Wilmington, and university leaders say they hope to accomplish repairs with a combination of insurance claims, state funding and help from FEMA.
Massive wildfires are tearing through parts of California, destroying hundreds buildings and forcing thousands of people from their homes. An emergency evacuation order was issued for several neighborhoods west of Los Angeles as firefighters frantically fought back the Woolsey Fire.
Subaru is recalling nearly 400,000 vehicles in the U.S. to fix two problems that can cause them to stall. The first recall covers about 229,000 Outback and Legacy vehicles from the 2018 model year.
Fraser Shipyards in Superior has reached a $7.5 million settlement with more than 60 workers who were exposed to unsafe lead levels while working on a Great Lakes freighter. Four lawsuits were brought against the Superior shipyard for blood lead poisoning that occurred while working on the boiler and steam power system of the 59-year-old Herbert C. Jackson.
Regardless of whether or not their organizations operate in states where the use of Official Disability Guidelines (ODG) has been adopted/mandated, risk managers can often leverage ODG data and the claim data from their risk management information systems (RMIS) to benchmark the medical and lost-time components of their workers compensation costs against national averages.
Claims adjusters handling recreational cannabis claims will need to consider the value of the plant at any given time in the growing process to determine actual loss, an independent adjusting firm said Tuesday.
The Insurance Research Council (I.R.C.) released data from a recent study showing that Louisiana car insurance is the least affordable in the United States. Moreover, the state is also among the highest for payment delinquencies in the country.
