News
Developers Working to Determine if AI Chatbot Falsehoods Are Fixable
Spend enough time with ChatGPT and other artificial intelligence chatbots and it doesn't take long for them to spout falsehoods. Described as hallucination, confabulation or just plain making things ...
Global Natural Disasters Cost Insurers $43B in H1, Surpassing 10-Yr Average: Munich Re
Natural disasters during the first half of 2023 cost insurers an estimated $43 billion with an overall economic price tag of $110 billion, according to Munich Re. These insured losses were slightly ...
Tech Bytes: New Partnerships at ZestyAI, Ascend
ZestyAI, a provider of climate and property risk analytics solutions powered by artificial intelligence, announced an agreement with Coterie Insurance, a partnership-focused managing general agent, ...
Fitch: Financial Performance Influenced by P&C Company Ownership Structures
Balance sheet risks and financial performance vary depending upon property and casualty insurers' ownership structure, according to a special report by Fitch Ratings. Material differences in ...
J&J Fails Again in Effort to Resolve Talc Lawsuits in Bankruptcy
A U.S. judge on Friday shot down Johnson & Johnson's second attempt to resolve tens of thousands of lawsuits over its talc products in bankruptcy, imperiling a proposed $8.9 billion settlement ...
Public Companies Must Disclose Data Breaches Within 4 Days Under New SEC Rule
The Securities and Exchange Commission adopted rules Wednesday to require public companies to disclose within four days all cybersecurity breaches that could affect their bottom lines. Delays will be ...
Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh
Global commercial insurance pricing rose 3 percent in the second quarter of 2023, down from 4 percent in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber ...
New Ethical AI Consortium Launched
Three digital technology providers announced the launch of the Ethical AI in Insurance Consortium as a means to help guide the insurance industry toward a responsible and ethical future using AI. ...