Claims & Reserving
Complications Grow for Business Income Insurance
As the insurance industry faces litigation and questions over virus-related claim denials, it could soon be dealing with another business income hurdle due to the civil unrest that has taken place in ...
Hurricanes and Coronavirus ‘Not a Good Mix,’ KCC Warns
"Hurricanes and COVID-19 are not a good mix," says catastrophe modeling firm Karen Clark & Co. in a new Event Brief, warning that the pandemic will make what forecasters already predict to be an ...
Not All Homes in Wildfire Zones Are Uninsurable; Zesty.ai Refines Scoring Model
Fire risk scores now used by insurance underwriters can sometimes make it challenging for homeowners to find coverage. Zesty.ai, a California InsurTech startup, is among a handful of firms working to ...
Stay-at-Home Pandemic Orders Reduce Auto Claims Almost by Half: Snapsheet
Insurers are reporting a 40-50 percent drop in claims volume for personal auto and a 30-40 percent reduction for commercial auto due to the coronavirus pandemic, an executive for claims-automation ...
Trump Jumps Into Business Interruption Coronavirus Claims Fight, Urging Carriers to Pay Up
President Donald Trump on Friday staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay. Trump spoke about the issue ...
Lloyd’s Asks Members for Estimates of Coronavirus-Related Losses
Lloyd's of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand ...
Australia’s Bushfire Crisis Causes Business Interruption Chain Reaction
Australia's deadly bushfire crisis is affecting some of the nation's biggest companies including dairy producer Bega Cheese Ltd. and airline Qantas Airways Ltd. Bega led declines on the benchmark ...
Will Emotion AI Make Human P/C Claims Adjusters Obsolete?
Renowned machine learning researcher and New York Times bestselling author Kai-fu Lee has described the era we are living in as "the age of implementation," a time period during which artificial ...