The Atlantic should produce a near-normal 12 storms during the six-month hurricane season that officially begins Wednesday, while the U.S. coastline has a below-average chance of being struck by a major system, according to Colorado State University’s forecast. Of the …
Lloyd’s of London said that at least 34,000 jobs in the city’s commercial insurance industry are at risk if Britain votes to leave the European Union, with some companies drawing up plans to relocate outside of the U.K. Further job …
BP Plc said it agreed to pay $175 million to settle claims by U.S. investors that its managers lied about the size of the 2010 Gulf of Mexico oil spill to prop up its stock price, removing the company’s last …
As energy, transportation, telecommunication and manufacturing companies become more reliant on automation, robotics and connected networks, they are also increasingly vulnerable to cyberattacks. Rather than stealing data, cyberattacks on critical infrastructure and manufacturers are more likely to target industrial control …
High complexity claims account for the majority of dollars spent in workers’ compensation claims. One way to identify high exposure claims early is by using predictive analytics. Using analytics, carriers can spot problem cases and direct them to a more …
In 18 years, Southeast Texas resident Art Myrick says he’s been ordered or asked to evacuate his home near the Brazos River about 20 times, but he didn’t always do so and the house never flooded – until now. Flooding …
The Texas Windstorm Insurance Association (TWIA) announced it is in its strongest-ever position for this year’s hurricane season with $4.9 billion in total funding available to pay claims. The funding level is sufficient to cover a 100-year storm season and …
Former California Claim Adjuster Pleads Guilty to Embezzling $289K Elizabeth Louise Brown, 48, of Canyon Country, Calif., a former claims adjuster with Explorer Insurance, pleaded guilty to two counts of insurance fraud with a white collar crime enhancement penalty for …
Publicly available data on how ridesharing drivers truly fare versus average American drivers is limited. Even the U.S. insurance industry, which has responded well to ridesharing over the past 18 months, lacks insights into ridesharing drivers’ risk profile. Aite Group’s …
A large catastrophic hurricane in 2016 would likely promote a shift towards positive pricing movement following years of property insurance pricing declines in the U.S. property/casualty market, according to Fitch Ratings’ 2016 annual hurricane season reference report. However, abundant available …