Claims & Reserving
Liability Claims Topping $1 Billion Now More Common: Allianz
Large liability claims are becoming more expensive, complex and international, with activity increasing outside the United States, according a report published by Allianz Global Corporate & ...
Through the Roof: Drone Startup Hits 6,000-Inspection Milestone
BetterView, an insurance technology startup that captures and analyzes data from drones, announced early this month that it has performed more than 6,000 roof top inspections for insurers since its ...
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 ...