Claims & Reserving
Insurers’ Use of Cell Tower Data to Deny Claims Challenged in Court
It took Jaclyn Bentley nearly three years to prove she didn't burn her house down for the insurance money, allegations she and her lawyer say were born of the junk practice of analyzing cellphone ...
Chubb Returns Stolen Norman Rockwell Painting to Family 40 Years After Theft
Chubb has returned a stolen Norman Rockwell painting to the family of its original owners more than 40 years after its theft. Rockwell's "Boy Asleep with Hoe"—also known as "Lazy Bones" or "Taking ...
AOB Abuse in Fla. Reaching Crisis Point
Assignment of benefits (AOB) abuse has escalated over the last five years to the point where it is now a serious disruption to Florida's insurance market. The abuse, which is especially rampant in ...
Blackstone Group to Pay Up to $4.8B for Aon’s Employee Benefits Outsourcing Arm
Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 ...
More Insurers Adopting Predictive Analytics to Combat Fraud
Declining cost barriers, the availability of cloud storage and telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims ...
Lemonade Boasts Claims Settlement Speed Record, AI Jim Answers Questions
Recently, Lemonade reported a claim-handling world record. The insurer reported a claim settlement speed record—three seconds and no paperwork. According to the insurer, a policyholder submitted a ...
Dwindling Investment Returns, Heavy Competition Erode Insurance Industry Fundamentals
The ongoing pressures of diminishing investment returns, dwindling loss reserves and intense competition are beginning to erode industry fundamentals, cautioned A.M. Best in a special report titled ...
Too Much Tech, More Lawyers Fuel Auto Insurance Woes: Hartford Execs
Although small commercial insurance—outside of auto—is a top-line accelerator at The Hartford, auto insurance severity continues hitting the bottom line, say executives who expect a pretax $50 ...