Claims / Legal
RIMS 2016: Insurers Prepare for Wearables, Automated Vehicles
Imagine sitting at your desk writing a quote for an insurance policy and suddenly the lapel of your coat begins angrily buzzing, snapping you out of a daze and causing you to quickly straighten up ...
RIMS 2016: Travelers CGL Data Breach Ruling Won’t Impact Cyber Market
What will be the effect of this week's federal court ruling that Travelers Indemnity, under its commercial general liability (CGL) coverage, must defend an insured sued due to a medical records data ...
Are Carriers Facing a Paper Bias for Notices of Cancellation and Nonrenewal?
The insurance industry has been notoriously slow to fully embrace electronic forms of commerce and there may be good reasons for the hesitation. Until recently, antiquated, prescriptive requirements ...
Actuaries, Data Scientists at Odds: Novarica
With roughly one-in-three insurance companies expanding or piloting data science units in 2016, they may be facing an unanticipated problem—friction between their actuaries and data scientists, ...
Federal Court Rules Travelers CGL Policy Covers Data Breach
A federal appeals court in Virginia has upheld a lower federal court in ruling that a commercial general liability policy (CGL) may cover a data breach. In a case involving the publication of private ...
Beazley/Munich Re Start Selling Broad Cyber Cover for Large Global Companies
Beazley will link up with a unit of Munich Re to roll out broad cyber protection for the world's largest companies, with a focus on digital assets and IT infrastructure. Plans call for Beazley, the ...
BMW Debuts ReachNow Car-Sharing Service in Seattle; U.S. Expansion Eyed
Germany's BMW launched on Friday a car-sharing service in Seattle, where it will offer customers the use of 370 BMW and Mini vehicles, before expanding to other cities in the United States. ...
Wells Fargo Reaches $1.2B Settlement in U.S. Govt. Mortgage Suit
Wells Fargo & Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice ...