Fraudsters are more often caught by tip-offs and complaints, management review, accidentally, suspicious superiors and internal audits than by use of technology and data analytics. According to consulting firm KPMG, North companies are not capitalizing on the use of data …
A new study by the Workers Compensation Research Institute (WCRI) found “noticeable decreases” in the amount of opioids prescribed per workers’ compensation claim in a majority of 25 states studied. The WCRI study, Interstate Variations in Use of Opioids, 3rd …
Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. An historic wildfire caused catastrophic damage in …
Nearly 80 percent of property/casualty insurance carrier legal and claim departments use alternative fee arrangements (AFAs), according to a recent LexisNexis CounselLink survey. This is an increase from 69 percent reported in August 2015. According to the report, the use …
Human error is estimated to cause more than 90 percent of traffic accidents, a percentage that might be drastically reduced by the implementation of self-driving cars featuring smart systems that control most aspects of driving. Although the potential benefits of …
It was almost midnight when Walter Price eased his 18-wheeler into the right lane on Interstate 75 near Atlanta. As he began to bank onto the exit ramp he’d been taking for the past 10 years, Price had no idea …
Prescription drugs spending jumped 13 percent last year, the biggest annual increase since 2003, according to the nation’s largest pharmacy benefits manager. Express Scripts Holding Co. said that the jump was fueled in part by pricey specialty drugs that accounted …
Most Americans are worried that the increased use of drones in the U.S. could damage property, cause injury and create other new risks, according to a new report. The Chubb Group of Insurance Companies surveyed 1,000 adults by way of …
A center at the University of Kentucky is receiving a five-year, $5 million grant to improve occupational health and safety in central Appalachia and Kentucky. UK said the region reports higher rates of occupational injuries and fatalities than the rest …
Scientists seeking to put seismic sensors deep in the San Andreas fault to study the mechanics of earthquakes are in danger of losing their funding, a newspaper reported. The National Science Foundation has said it is no longer soliciting proposals …