News
Industry Alliance Outlines Key Liability Risk Considerations in Insuring AI
Artificial intelligence and its uses are a hot topic these days. Some benefits of AI include efficiency in time and resources, but what happens when an AI-related error or failure occurs? Liability ...
Homeowners Insurer Retreat Signals Climate, Regulatory and Economic Challenges: Fitch Ratings
The recent retreat of large homeowners insurance carriers, like Allstate and State Farm, from the California property insurance market signals ongoing regulatory constraints, rising cost inflation ...
In North America, the World Cup is in full swing. With it, we can draw lessons from AI and contextual...
U.S. Traffic Safety Agency Audit Finds Auto Defect Probes Lag
The U.S. government agency charged with keeping the roads safe is slow to investigate automobile safety defects, limiting its ability to handle rapidly changing or severe risks, an audit made public ...
FEMA Hit by Multistate Lawsuit Over Flood Insurance Rating Formula
A federal lawsuit claims FEMA failed to take into account skyrocketing flood insurance costs generated by its new rating system, Risk Rating 2.0. Ten states, along with 43 Louisiana parishes and more ...
Speaking Up Encourages Drivers to Stop Texting While on the Road
Passengers can dramatically reduce texting while driving by asking the driver to stop, according to a new survey commissioned by Erie Insurance. Nearly half of drivers who were asked or told to stop ...
Speeding, Distraction a Deadly Summertime Problem for Teens
Nearly half of all teen auto fatalities happen during the 100 Deadliest Days — the period between Memorial Day and Labor Day, according to a new report by Cambridge Mobile Telematics (CMT) that ...
Evertas to Offer Largest Crypto Insurance Policy With Coverage Up to $420M
London-based Arch Insurance International has authorized cryptocurrency insurer Evertas to increase the coverage limit for a single policy to $420 million for custodians or exchanges in what the U.S. ...
Another Soft Market Is Inevitable
In recent weeks, executives of brokers and carriers have been delivering mixed messages about conditions in the commercial insurance market. "The long curve, the larger trend, is bending in a ...