Industry News
After several years of experimentation with generative AI and machine learning, many carriers have moved beyond asking whether AI has a role in insurance. Instead, they’re grappling with a different question: How do organizations know when an AI pilot is …
Via: Claims Journal
The U.S. International Development Finance Corporation has agreed with the World Bank’s guarantee arm MIGA to create a political risk insurance framework for a U.S.-Ukrainian reconstruction investment fund. The agreement, signed on Thursday on the sidelines of a Ukraine recovery …
Via: Claims Journal
The National Association of Insurance Commissioners (NAIC) now says data taken earlier this month from its information technology systems has been published online by the hackers responsible. In a short note posted midday June 25, NAIC said it was “actively …
Via: Claims Journal
Most Americans are inundated with scam attempts on a daily basis — and about 3 in 10 have personally lost money or personal information to scams, according to a new AP-NORC survey. The poll, conducted by The Associated Press-NORC Center …
Via: Claims Journal
An attack on a container vessel sailing through the Strait of Hormuz has prompted some shipowners to review exit plans, but traffic continued to flow in both directions through the vital thoroughfare on Friday. Two fully laden tankers are heading …
Via: Claims Journal
Red Lobster’s $20 all-you-can-eat shrimp deal wasn’t just a badly designed promotion that inadvertently helped tip the iconic American restaurant chain into bankruptcy. It was part of a scheme to “squeeze every drop of value” from Red Lobster for the …
Via: Claims Journal
Cal-Maine Foods Inc. and other egg suppliers are close to resolving an investigation by the U.S. Justice Department and a bipartisan group of states into alleged illegal price coordination, according to people familiar with the matter. The Justice Department and …
Via: Claims Journal
Billionaire Ira Rennert agreed to pay $150 million to resolve more than a thousand claims that a lead smelter owned by his companies poisoned residents of a Peruvian town, reaching a deal on the eve of a U.S. trial that …
Via: Claims Journal
The U.S. Supreme Court reined in thousands of lawsuits pursued in state courts accusing Bayer of failing to warn users that the active ingredient in its Roundup weedkiller causes cancer, handing a major legal victory on Thursday to the German …
Via: Claims Journal
London’s efforts to deal with rising temperatures come at a considerable financial cost that will require the city to turn to private investors for help, the mayor of the UK capital said. Instead of being a “future threat,” extreme heat …
Via: Claims Journal