Last October, an Idaho farmer using a backhoe punched a hole into a 22-inch pipeline buried under a field, sending more than 51 million cubic feet of natural gas hissing into the air. While the incident on Williams Companies’ Northwest …
Personal and auto insurance shopping is likely to increase in 2024 due to several market factors, new research shows. The observation in a new TransUnion report comes at a time when shopping for both insurance lines dropped at the end …
Claims adjudicators rely heavily on data to make informed decisions. It’s the nature of the work: assessing a claim correctly requires a sizable amount of information, such as policy coverage details, underwriting terms, data on the claimant’s past health, reason …
Technology is poised to take over traditional markets and is rapidly creating new ones. For example, this trend is evidenced by the adoption of electric vehicles, demand for solar energy, and the blistering pace of generative AI adoption. Yet these …
Iceland’s government has agreed to buy all residential properties in the fishing town of Grindavik, which has become uninhabitable after three volcanic eruptions rocked the region in the last two months. Grindavik has been subject to repeated seismic activity since …
In the insurance world, 2024 brings forth many challenges and transformative trends. From the escalating global risks, such as climate change and cyber threats, to the evolving role of insurers as societal safety nets, the industry is on the brink …
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat in the decade to 2020, …
A Massachusetts hospital that suffered a cyber attack in December has been hit with a class action lawsuit for its alleged failure to secure patients’ personal information. Anna Jaques Hospital in Newburyport experienced a significant shutdown of its electronic medical …
Repsol SA is being sued for $1 billion by an English law firm representing around 35,000 alleged victims for its involvement in Peru’s largest oil spill in 2022. Tom Goodhead, chief executive officer of Pogust Goodhead, said the lawsuit was …
LONDON/NEW DELHI/TOKYO —Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by …