Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or “Gen AI”) is the term used for technology that …
Dave North is retiring from his role as Executive Chairman of Sedgwick, but plans to remain a member of the company’s board of directors. North’s retirement is effective June 30. North was Sedgwick’s president and CEO from 1995 to 2020. …
Nearly all new passenger cars and trucks sold in the United States will be required to have automatic emergency braking systems by September 2029, the National Highway Traffic Safety Administration (NHTSA) said on Monday, saying that the rule will save …
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
Medical device maker Philips said it will pay $1.1 billion to settle hundreds of personal injury lawsuits in the U.S. over its defective sleep apnea machines, which have been subject to a massive global recall. The Dutch manufacturer did not …
The tornadoes that swept through the Great Plains on April 26 and 27 damaged and destroyed roughly 7,000 homes and businesses with a combined reconstruction cost of $2.1 billion, according to an estimate released this week. Multiple severe convective storms …