Industry News
Jamaica has secured up to $6.7 billion in support from international agencies to fund reconstruction over the next three years in the wake of Hurricane Melissa. Melissa, one of the strongest storms on record to make landfall in the Caribbean, …
Via: Claims Journal
A massive data breach at South Korea’s largest e-retailer Coupang Inc. caps what is set to be a record year for online leaks in the country, highlighting weaknesses in Seoul’s cyber defenses. Coupang, known for its popular early morning grocery …
Via: Claims Journal
For years, experts have discussed whether cat bonds could do more than just clean up after disasters—whether they could incentivize mitigation work to would lessen damages in the first place.
Via: Claims Journal
A barge carrying 192 shipping containers that ran aground in the Bahamas and was quickly looted has returned to Jacksonville, ending a stormy journey that will likely result in millions of dollars in insurance claims. The barge, known as the …
Via: Claims Journal
While insurance consumers may be warming up to artificial intelligence, 68% say they believe the insurance company gets most of or all the benefits of AI adoption. AI is becoming more ingrained and accepted as part of the insurance industry’s …
Via: Claims Journal
A three-year pilot program using video surveillance and coaching at New York City construction sites led to enhanced job safety and a more than 50% drop in workers’ compensation claims frequency. According to insurer Zurich North America, Zurich Resilience Solutions …
Via: Claims Journal
It is often said that things in life (good or bad) happen in threes. Whether this is true is beyond this author’s expertise. However, when it comes to Workers’ Compensation Medicare Set-Asides (WCMSAs), the financial arrangements to ensure that Medicare …
Via: Claims Journal
Snowy and blustery conditions are spreading across the U.S. Midwest, triggering power outages and potential ground and air delays on the eve of the Thanksgiving holiday.
Via: Claims Journal
OpenAI defended itself against a lawsuit accusing ChatGPT of coaching a 16-year-old to kill himself, saying the chatbot directed the teenager to seek help more than 100 times. In a court filing Tuesday, the artificial intelligence startup called the death …
Via: Claims Journal
Barrick Mining Corp. has agreed to a 244 billion CFA francs ($430 million) settlement with Mali, as part of a deal to end a two-year dispute that shuttered one of the company’s most important gold operations, according to people familiar …
Via: Claims Journal