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Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, ...
Is the world being overtaken by robots? While the answer to that question is clearly "no" — or at least, "not yet" — it seems that the focus of nearly every industry and business media outlet is ...
Pennsylvania has issued guidance for insurance companies' use of artificial intelligence systems (AIS) based on a model adopted by the National Association of Insurance Commissioners (NAIC). The ...
Georgia lawmakers have approved two bills that could have a significant impact on windstorm and bad-faith claim losses for property insurers. First, the bad-faith reform legislation. Auto insurers ...
A new report from AM Best reveals that the U.S. property/casualty industry recorded a $21.2 billion net underwriting loss in 2023, slightly improved from a $24.9 billion underwriting loss recorded in ...
Two-thirds of property/casualty insurers plan to start using AI in operational decisions this year, according to a survey, which also reveals that nearly all insurers already using AI have been ...
The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to "AI washing," or essentially making false claims about their use of artificial ...
The CEO of Citizens Property Insurance Corp. has denied that corporation representatives have been unresponsive to Congressional requests for financial information, in the wake of unsettling comments ...
State Farm wasn't quite done making tough decisions about writing business in California when it announced that it wouldn't accept applications for new homeowners policies in the state in May of last ...
Regulatory restrictions to actuarially sound insurance pricing and underwriting, coupled with the need for more mitigation and resilience efforts in the state of California, are placing financial ...
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