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Minnesota Men Face Federal Charges in Interstate Catalytic Converter Theft Ring

Minnesota Men Face Federal Charges in Interstate Catalytic Converter Theft Ring

Federal officials have charged four Minnesota men in a multi- million-dollar scheme to transport stolen catalytic converters to buyers in several states.
November 2, 2023 Auto Fraud Insurance Industry Litigation Colorado Minnesota New Jersey New York Oklahoma

Unveiling Generative AI: A Game Changer for Customer Engagement

Unveiling Generative AI: A Game Changer for Customer Engagement

Generative AI enables the creation of sophisticated, personalized customer experiences in the insurance industry through intelligent communication.
November 1, 2023 Insurance Industry Risk Management Technology

2022 Sees a Dip in Uninsured Driving Rates Post-Pandemic Spike: IRC Report Reveals

2022 Sees a Dip in Uninsured Driving Rates Post-Pandemic Spike: IRC Report Reveals

About one out of seven U.S. drivers operated a private-passenger vehicle without liability insurance in 2022, according to new research by the Insurance Research Council (IRC), an affiliate of The Institutes.
November 1, 2023 Auto Insurance Industry Legislation & Regulation Risk Management

AI and Economic Trends: A New Era of Opportunities in Subrogation

AI and Economic Trends: A New Era of Opportunities in Subrogation

How is artificial intelligence changing the subrogation process? How has the economy changed carriers' appetite to identify subrogation opportunities?
November 1, 2023 Insurance Industry Legislation & Regulation Subrogation Technology

Triple-I Partnership Cultivates Diversity and Early Career Advancement in Insurance

Triple-I Partnership Cultivates Diversity and Early Career Advancement in Insurance

To amplify the Insurance Information Institute's (Triple-I) commitment to Diversity, Equity, and Inclusion (DEI) in the workplace, Triple-I partnered with HBCU IMPACT.
October 31, 2023 Education & Training Insurance Industry Risk Management

Guidewire and RiskStream Unite: Revolutionizing the Insurance Landscape with RAPID X Technology

Guidewire and RiskStream Unite: Revolutionizing the Insurance Landscape with RAPID X Technology

By creating a single source of truth, blockchain-based "smart contracts" enable real-time data collection, sharing, and analysis that can reduce fraud, accelerate claims processes, and save the industry $200 billion per year.
October 31, 2023 Auto Fraud Insurance Industry Technology

Evolving Vehicle Valuation: A Shift Towards Dynamic Insurance Pricing Amid Changing Auto Retail Trends

Evolving Vehicle Valuation: A Shift Towards Dynamic Insurance Pricing Amid Changing Auto Retail Trends

Changes in buyers' behavior mean an insurer using MSRP to set an insurance value is underpricing the vehicle from the start.
October 31, 2023 Auto Insurance Industry Risk Management Technology

Unveiling Modern Trial Tactics in Transportation Cases through Expert Roundtable

Unveiling Modern Trial Tactics in Transportation Cases through Expert Roundtable

CLM's Transportation Community experts discuss virtual mediations and assessing the strength of the plaintiff's attorney.
October 31, 2023 Auto Education & Training Insurance Industry Liability Litigation Illinois Massachusetts Pennsylvania

Erie Insurance Faces Accusations of Racial Bias in Underwriting Practices

Erie Insurance Faces Accusations of Racial Bias in Underwriting Practices

Erie Insurance defends its practice of telling agents to use subjective factors when judging a potential customer. Maryland regulators say the company sought to exclude Black and Hispanic people.
October 30, 2023 Insurance Industry Legislation & Regulation Liability Litigation Maryland New York Pennsylvania

Hurricane Otis Racks Up Billions in Insured Losses, Marks Historic Financial Drain for Mexico’s Insurance Sector

Hurricane Otis Racks Up Billions in Insured Losses, Marks Historic Financial Drain for Mexico’s Insurance Sector

Reinsurance broker Gallagher Re has said that hurricane Otis will be one of the costliest natural catastrophe events in Mexico's history, with a multi-billion-dollar insurance market loss anticipated.
October 30, 2023 Catastrophe Insurance Industry Property Risk Management

Matthew Perry’s Hot Tub Incident Highlights Insurance Risk Concerns

Matthew Perry’s Hot Tub Incident Highlights Insurance Risk Concerns

When it comes to washing away stress and soothing achy joints, it's hard to beat the warm water and gurgling jets, but the actor's untimely death serves as a painful reminder of the risks inherent to owning a hot tub.
October 30, 2023 Insurance Industry Liability Risk Management

Navigating Through the Vines: Assessing the Current State of Winery Insurance Market in California

Navigating Through the Vines: Assessing the Current State of Winery Insurance Market in California

While certain geographies are experiencing a tightening of P&C capacity, especially in California, wineries in the region are feeling the sting more than most due to extreme weather events.
October 30, 2023 Insurance Industry Property California

State Farm Sees a Significant Dip in Catalytic Converter Theft Claims in H1 2023

State Farm Sees a Significant Dip in Catalytic Converter Theft Claims in H1 2023

According to the company's latest data, there were approximately 14,500 claims related to catalytic converter thefts during this period, marking a significant drop from the 23,570 claims made in the same period last year.
October 27, 2023 Auto Insurance Industry Legislation & Regulation Risk Management

Striking a Digital Balance: Insurers Tackling Claims Complexity in a Digital Age

Striking a Digital Balance: Insurers Tackling Claims Complexity in a Digital Age

Americans are turning to digital channels for some home and auto insurance needs, but other areas have proven more complicated.
October 27, 2023 Auto Insurance Industry Liability Property Technology

Auto Claims Satisfaction Scores Are Up Despite Longer Repairs

Auto Claims Satisfaction Scores Are Up Despite Longer Repairs

An auto parts shortage combined with longer cycle times for repairs has contributed to repairs taking an average of about 23 days in 2023, up an average of a little more than 6 days from 2022.
October 26, 2023 Auto Insurance Industry Technology
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