Industry News
Rhode Island sued Meta Platforms in state court last week over the company’s alleged tolerance for widespread scam advertising on its Facebook, Instagram and WhatsApp platforms. The suit, filed by Rhode Island Attorney General Peter Neronha in Providence Superior Court, …
Via: Claims Journal
The Federal Emergency Management Agency said it has launched a new tool for residents to buy flood insurance through the National Flood Insurance Program. Available, at floodsmart.gov, the online option is available to residents living in the almost 22,700 NFIP …
Via: Claims Journal
Chinese fast-fashion giant Shein has agreed to pay $100 million to settle an investigation by the U.S. Federal Trade Commission over delivery delays and other customer complaints, a source with direct knowledge told Reuters on Friday. The settlement, equivalent to …
Via: Claims Journal
Storm Austen knocked out electricity to almost 300,000 customers in western France on Friday as hurricane-force winds battered the region, disrupting roads, railways and other transport links.
Via: Claims Journal
According to recent report from AM Best, commercial auto liability insurance coverage has continued to bear the brunt of rising litigation costs, outpacing economic inflation. Social inflation has negatively affected commercial auto liability ultimate claim costs for several years, which …
Via: Claims Journal
Editor’s note: This is the second installment in a four-part series on the erosion of integrity in property claims. Part I measures the decline. Part II documents the misconduct driving it. Part III will trace the causes to a broader …
Via: Claims Journal
In the long-simmering clash between property insurers and public adjusters, the adjusters now have Florida’s chief law enforcement officer on their side, after state Attorney General James Uthmeier announced his office will investigate anti-public adjuster endorsements in some Florida insurance …
Via: Claims Journal
AI safety research group METR said on Thursday a pilot exercise to stress-test OpenAI’s internal monitoring system uncovered several new vulnerabilities, including an exploit that AI agents could have used to keep hundreds of their recent actions from being monitored. …
Via: Claims Journal
The insurance industry has dealt with emerging risks in the past, and Chubb CEO Evan G. Greenberg said he thinks the same approach can be applied to the rapid escalation of apparent liabilities presented by business’ use of artificial intelligence. …
Via: Claims Journal
New claims handling rules in Washington require insurers to follow updated rules that establish deadlines for responding to policyholders, conducting investigations, issuing denials and making payments. The rules, which took effect Oct. 18, require insurers to notify policyholders within 30 …
Via: Claims Journal