Aon Report Details a Notable Decline in Q1 2024 Catastrophic Losses Compared to Previous Year
According to Aon’s latest catastrophe report, the first quarter of 2024 saw lower economic and insured losses compared to last year.
May 1, 2024
Catastrophe
Insurance Industry
Property
Risk Management
California
Oklahoma
Texas
Johnson & Johnson Proposes $6.5 Billion Settlement to Resolve Cancer Lawsuits
Johnson & Johnson seeks to settle tens of thousands of claims alleging its talc products caused ovarian cancer with a proposed $6.5 billion settlement.
May 1, 2024
Insurance Industry
Life & Health
Litigation
Risk Management
New Jersey
Transforming Underwriting: Embracing Technology and Training for Growth
Advanced technology and targeted training are reshaping underwriters’ roles, enhancing their efficiency and market adaptability, according to a new Capgemini report.
April 30, 2024
Insurance Industry
Risk Management
Technology
Underwriting
Surge in Auto Insurance Costs Drives Record U.S. Shopping and Switching Rates
Amid a significant 22.2% increase in premiums, nearly half of U.S. auto insurance customers are actively seeking new policies, according to the latest J.D. Power study.
April 30, 2024
Auto
Insurance Industry
Risk Management
Technology
California
Gore Street Capital Deploys Advanced Battery Analytics for Better Insurance Terms on UK Energy Projects
Gore Street Energy Storage Fund has successfully implemented a predictive analytics solution, achieving improved insurance terms for its UK energy storage projects.
April 30, 2024
Auto
Insurance Industry
Risk Management
Technology
California
Texas
Global Cyber Confidence Index 2024 Highlights Widespread Overconfidence in Cybersecurity Amid Rising Ransomware Threats
The 2024 Global Cyber Confidence Index report underscores a significant disconnect between cybersecurity confidence and the actual effectiveness of risk management practices.
April 30, 2024
Insurance Industry
Legislation & Regulation
Risk Management
Technology
Grand Jury Indicts Vendor for Alleged Large-Scale Insurance Fraud in Alabama
A vendor is facing charges for allegedly defrauding Montgomery city of over $400,000, with an indictment issued following an unrelated probe by the attorney general.
April 30, 2024
Fraud
Insurance Industry
Legislation & Regulation
Risk Management
Alabama
Progressive Insurance Plans Massive Hiring Drive in 2024
Progressive Insurance is set to recruit over 10,000 employees across the U.S. in 2024, expanding its workforce to support customer growth.
April 29, 2024
Education & Training
Insurance Industry
Technology
Workers' Compensation
Sacramento Business Owner Fined Over $687K for Workers’ Comp Fraud
Jorge Maldonado, owner of Pro-Care Building Maintenance, has been ordered to pay nearly $700,000 in restitution for underreporting employee numbers to reduce workers’ comp premiums.
April 29, 2024
Fraud
Insurance Industry
Legislation & Regulation
Workers' Compensation
California
Florida Supreme Court Rules on PIP Insurance Reimbursements
The Florida Supreme Court clarifies the reimbursement policies under personal injury protection (PIP) insurance, upholding insurers’ rights to limit payments in Allstate vs. Revival Chiropractic.
April 29, 2024
Auto
Insurance Industry
Legislation & Regulation
Liability
Florida
Insurance Industry Leverages AI to Enhance Efficiency and Decision-Making
The insurance industry has rapidly adopted AI, enhancing operations across sales, underwriting, and risk management to optimize performance and profitability.
April 29, 2024
Fraud
Insurance Industry
Technology
Underwriting
A Sailor’s Tale of Woe Insurance Debacle and Ex’s Revenge Caught on Reddit
A sailor’s deployment takes a turn as an ex’s antics lead to a Porsche pile-up, sparking a lively insurance debate.
April 26, 2024
Auto
Insurance Industry
Liability
Risk Management
Virginia
Navigating Tense Relationships in Insurance: An Underwriter’s Struggle
Underwriters and agents clash over communication and work dynamics, as seen in a detailed Reddit thread.
April 26, 2024
Education & Training
Insurance Industry
Risk Management
Underwriting
Record Highs in Healthcare Fraud Losses in Early 2024 Spark Concern
Americans faced over $16 million in losses to healthcare fraud in the first quarter of 2024, marking a significant increase in fraudulent activities.
April 26, 2024
Fraud
Insurance Industry
Legislation & Regulation
Life & Health
Florida
Rising Distracted Driving Trends: Insights from Arity’s Henry Kowal
Smartphone use behind the wheel surges, prompting a deep dive into the data with Arity’s expert.
April 26, 2024
Auto
Insurance Industry
Risk Management
Technology
