Claims / Legal
FBI: Cybercrime Losses Reached $1.33B in 2016, a 24 Percent Rise
Losses from cyber crimes rose 24 percent in 2016 to over $1.33 billion, according to a report by the Federal Bureau of Investigation's Internet Crime Complaint Center (IC3). The center, which was set ...
Aging Millennials More Emotionally Connected to Their Insurers Than Gen X, Boomer Counterparts
Millennials are aging, and that may be good news for property/casualty insurers. Here's why: Millennials appear to have a stronger affinity for insurance companies than their Gen X or baby boomer ...
QBE Cautions Emerging Markets’ Division Hammered by Higher Claims
Sydney-based QBE warns that its Emerging Markets' division has experienced an unexpected surge in claims from January through May due to multiple factors. As a result, this division is expected to ...
Cyber Risk Rating Principles Emerge From U.S. Banks, Others
More than two dozen U.S. companies, including several big banks, have teamed up to establish shared principles that would allow them to better understand their cybersecurity ratings and to challenge ...
Tropical Storm Cindy Poised to Dump Heavy Rain in Four States
Tropical Storm Cindy emerged in the Gulf of Mexico with top winds of 45 miles (72 kilometers) per hour. So far, disruptions to oil and gas operations have been limited. The storm prompted watches and ...
More Flood Insurance Bills to Come after Two Advanced by House Committee
The House Financial Services Committee on Thursday passed two bills to reform the National Flood Insurance Program (NFIP). One is a broad reform proposal that seeks to encourage more private ...
Businesses Win as SCOTUS Limits Again Where They Can be Sued
The Supreme Court on Monday slapped limits on where injury lawsuits may be filed for the second time in three weeks, again siding with businesses that want to prevent plaintiffs from "shopping" for ...
Cognitive Computing Takes Off
Cognitive computing is catching on fast among property/casualty insurance companies, which are embracing the new technology in pursuit of labor efficiency more than labor replacement—at least for ...