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Balancing Technology and Human Touch in Insurance Fraud Detection

Balancing Technology and Human Touch in Insurance Fraud Detection

Technology aids in spotting insurance fraud, but human expertise remains crucial to ensure accuracy and maintain consumer trust.
July 22, 2024 Fraud Insurance Industry Risk Management Technology

The Benefits of AI and Skills-Based Hiring in the Modern Workforce

The Benefits of AI and Skills-Based Hiring in the Modern Workforce

Skills-based hiring and salary levels can lead to better results and access to a wider talent pool as AI accelerates the pace of change.
July 19, 2024 Education & Training Insurance Industry Risk Management Technology

Tennessee Raises Standards for Data Breach Class Actions

Tennessee Raises Standards for Data Breach Class Actions

Tennessee’s new law, Public Chapter 991, requires plaintiffs to prove "willful and wanton misconduct or gross negligence" in data breach class action cases, moving beyond simple negligence.
July 19, 2024 Legislation & Regulation Litigation Risk Management Technology Tennessee

NCCI Report Highlights Profitability and Challenges in Workers’ Compensation Insurance

NCCI Report Highlights Profitability and Challenges in Workers’ Compensation Insurance

The NCCI reports sustained profitability in private workers’ compensation insurance, with a combined ratio of 86 for the past two years and below 90 for seven consecutive years.
July 19, 2024 Insurance Industry Risk Management Technology Workers' Compensation

Niches: The Future of the Insurance Market?

Niches: The Future of the Insurance Market?

Skyward Specialty’s CEO Andrew Robinson shares insights on the power of focusing on niche markets in insurance.
July 19, 2024 Insurance Industry Risk Management Technology Underwriting California

Disney’s 1.1 TB Slack Data Breach Exposed by Hackers

Disney’s 1.1 TB Slack Data Breach Exposed by Hackers

Hackers claim to have stolen and leaked over a terabyte of Disney’s internal Slack messages and files.
July 19, 2024 Fraud Insurance Industry Litigation Technology

Keys to Successful Digital Transformation for Insurance Firms

Keys to Successful Digital Transformation for Insurance Firms

Assessing the market, balancing technology and business, and committing to growth are key steps in successful digital transformation.
July 17, 2024 Life & Health Risk Management Technology Underwriting

Rite Aid Data Breach Impacts 2.2 Million Customers

Rite Aid Data Breach Impacts 2.2 Million Customers

Rite Aid, the third-largest US drug store chain, revealed that a data breach exposed sensitive information of over 2.2 million customers, including names, addresses, birth dates, and driver’s license numbers.
July 16, 2024 Insurance Industry Litigation Risk Management Technology Maine Massachusetts Oregon Vermont

Investment in GenAI Pressures Other IT Projects

Investment in GenAI Pressures Other IT Projects

Generative AI investments are surging, squeezing other IT projects as companies aim for higher ROI and digital transformation.
July 16, 2024 Insurance Industry Risk Management Technology

Understanding 2024 Insurance Industry Priorities: AI, Climate Change, and Inflation Lead the Way

Understanding 2024 Insurance Industry Priorities: AI, Climate Change, and Inflation Lead the Way

The 2024 Global Priorities Report from the IIS highlights key concerns for insurance executives, including artificial intelligence, climate change, inflation, and cybersecurity, along with strategies for operational efficiency and growth opportunities.
July 16, 2024 Insurance Industry Risk Management Technology

Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous

Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous

While often dismissed, Category 1 hurricanes and tropical storms can cause significant damage and fatalities, emphasizing the need for a comprehensive understanding of storm impacts beyond mere wind strength.
July 15, 2024 Catastrophe Insurance Industry Risk Management Technology Florida Louisiana New York Texas

Nearly 300,000 Without Power in Texas One Week After Hurricane Beryl

Nearly 300,000 Without Power in Texas One Week After Hurricane Beryl

Hundreds of thousands of Texans remain without power one week after Hurricane Beryl caused widespread damage. Gov. Greg Abbott has demanded an explanation from Houston’s main electricity supplier.
July 15, 2024 Catastrophe Legislation & Regulation Risk Management Technology Texas

AT&T Pays Hacker $370,000 to Delete Stolen Customer Data

AT&T Pays Hacker $370,000 to Delete Stolen Customer Data

AT&T paid a hacker $370,000 to delete stolen call and text records of millions of customers. The hacker, part of the ShinyHunters group, claims to have wiped the only complete dataset, but some risks remain.
July 15, 2024 Fraud Litigation Risk Management Technology

Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas

Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas

Hurricane Beryl is estimated to have caused $3.3 billion in insured losses, with $2.7 billion in the U.S., $510 million in the Caribbean, and $90 million in Mexico.
July 11, 2024 Catastrophe Insurance Industry Property Technology Texas

Insurers Gained $50 Billion From Medicare for Untreated Diseases

Insurers Gained $50 Billion From Medicare for Untreated Diseases

Medicare Advantage insurers received $50 billion from questionable diagnoses, including diseases like diabetic cataracts and HIV, for conditions that were not treated or didn’t exist.
July 8, 2024 Fraud Insurance Industry Legislation & Regulation Technology Alabama Arizona Florida Georgia Massachusetts
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