Claims & Reserving
Equifax Breach Stemmed From Lack of Modern Tech Security Despite Aggressive Growth
Equifax Inc. failed to modernize its technology security to match the company's aggressive growth strategy and data gathering, a shortcoming that left it open to the 2017 hack that compromised the ...
State Farm Testing Blockchain Tech for Auto Claims-Related Subrogation
State Farm said it is testing a blockchain product for auto claims-related subrogation. Subrogation is typically the last part of an insurance claims process, where one insurance company recovers ...
VW Denies Allegations Its Chairman Knew Early About Emissions Test Cheating
Volkswagen has denied allegations that Chairman Hans Dieter Poetsch knew about the carmaker's emissions test cheating almost three months before U.S. authorities made it public in September 2015. ...
For Two Years Running, U.S. Wildfire Claims Payouts Will Exceed $10 Billion
Here's an ominous milestone for the property/casualty industry: 2018 will likely be the second consecutive year where insurance claims payouts related to annual U.S. wildfires will exceed $10 ...
Clues From Massive Marriott Hack Reportedly Implicate China
Hackers behind a massive breach at hotel group Marriott International Inc left clues suggesting they were working for a Chinese government intelligence gathering operation, according to sources ...
Public Transit Liability Claim Severity Is Rising: Aon
Nationally, public transit systems are seeing a steady increase in liability claim severity, even as ridership declines, according to a new study from Aon. Aon's study found that overall public ...
The Hartford Warns of Up to $365M in Pretax Losses From Wildfires, Hurricane Michael
The Hartford said it will see between $350 million and $365 million in Q4 2018 pre-tax catastrophe losses from California's Camp and Woolsey fires as well as Hurricane Michael. After tax, the net ...
Marriott CFO: $1B Estimate for Massive Cyber Breach Is Premature
It's too soon for Marriott International Inc. to estimate the cost of the massive cyber breach that the company disclosed last week, and other companies that have suffered big attacks are imperfect ...