The Alaska Supreme Court ruled that hiring a friend for work on another friend’s property does not exempt the employer from workers’ compensation coverage, rejecting the so-called "buddy exemption."
IoT technology is poised to simplify insurance by enhancing data integration, improving risk analysis, and overcoming workforce challenges, ultimately protecting people and businesses more effectively.
In 2023, Europe faced unprecedented extreme weather events, including heatwaves, droughts, storms, and floods, highlighting the urgent need for insurers to adapt and develop robust climate risk management strategies.
Legal system abuse, including frivolous lawsuits and inflated claims, significantly raises insurance claims costs, impacting policyholders, insurers, and agents, as highlighted by Triple-I.
HealthEquity reported that a cybersecurity incident compromised the personal information of 4.3 million individuals, involving a partner’s credentials to access sensitive health data.
An unknown threat actor exploited an email misconfiguration in Proofpoint’s system, sending millions of spoofed emails from reputable companies like Best Buy and IBM, highlighting vulnerabilities in email security infrastructure.
A recent post on Reddit’s adjusters subreddit shared a cautionary tale about the risks of casual, off-the-cuff remarks in professional communications. In this instance, a fire claim involving a homeowner’s pet parrot escalated to the courtroom, where an unfortunate message by an adjuster was read aloud, much to his embarrassment.
Take-Two Interactive’s SEC filing highlights various risks including negative review campaigns, which could result in loss of players, revenue, and increased marketing costs.
National Fire and Marine Insurance Co. denies coverage for Theraplant’s $1.3 million business income loss claim, citing policy exclusions and differing interpretations of coverage terms.
Two bears trapped inside a car in Winsted, Connecticut caused significant damage before being safely released, highlighting the growing black bear population in the state.
Leading insurance agencies are leveraging AI for communication, policy analysis, document comparison, and predictive analytics to enhance efficiency, accuracy, and customer satisfaction.