Artificial intelligence is aiding insurers and employers in reducing workers comp costs by identifying difficult and fraudulent claims, but it remains a tool for claims handlers rather than a replacement.

CoreLogic estimates that Hurricane Beryl caused insurable losses between $400 million and $700 million in Jamaica and the Cayman Islands, with similar losses in Mexico’s Yucatan Peninsula.

As the 2024 Paris Olympics approach, insurers brace for potential financial losses due to threats of cyber attacks, terrorism, and political protests, heightening security concerns.

Hurricane Beryl made landfall in Texas, bringing 90 mph winds, torrential rain, and life-threatening storm surge, leaving one person dead and over 1.5 million without power.

The 2024 State of Risk and Compliance Report by NAVEX offers valuable insights from over 1,000 global R&C professionals, highlighting trends, challenges, and the impact of leadership and technology on compliance program maturity.

Significant losses in private passenger auto and homeowners segments drive continued unprofitability for the US property/casualty insurance sector.

Farmers Insurance responds to claims of understaffing and overworking made by an anonymous group of in-house adjusters, following a significant increase in claims and workforce reduction.

An insurance adjuster uses a debtor’s own words to return a wrecked truck to his driveway, forcing the claimant to finally cooperate.

A survey in Ireland and the UK by Aviva finds four in ten respondents might exaggerate home insurance claims for extra compensation, with a majority supporting stricter penalties for fraud.

Erie Insurance and other insurers have filed a lawsuit against Norfolk Southern, alleging negligence and state law violations following the 2023 Ohio train derailment and chemical spill.

Home insurance premiums in Florida increased 80% less than expected in 2023 due to legislative reforms addressing legal system abuses, along with lower inflation in replacement costs, according to Triple-I.

A nationwide survey by The Hanover and The Harris Poll shows many homeowners neglect crucial maintenance tasks, risking costly damages and insurance claims.

An analysis of 47 million homeowners’ insurance expenditures reveals a sharp increase in premiums from 2020 to 2023, with disaster-prone areas experiencing the most significant hikes due to rising reinsurance costs.

Strong capital positions and record returns create favorable conditions for reinsurance buyers.

Despite ongoing cyber threats, the cyber insurance market offers favorable terms for buyers, driven by strong risk controls and pricing reductions.