Industry News
Elon Musk and his social media company X Corp have reached a tentative agreement to settle a lawsuit filed by former Twitter employees who said they were owed $500 million in severance pay. Attorneys for X Corp and the former …
Via: Claims Journal
They are the hurricanes of legend, the bowling balls that cross the entire Atlantic Ocean, menaced ships of yore and make the long, curved lines on the hurricane charts. Cape Verde storms, named for the group of islands about 450 …
Via: Claims Journal
A train derails and spills at least 1,000 gallons of hazardous materials in the U.S. about once every two months. Nearly half of those derailments resulted in evacuations; more than a quarter resulted in a fire or explosion since 2015, …
Via: Claims Journal
The shift to autonomous vehicles represents a great unknown for the auto insurance industry, but to analysts at Bank of America Corp. it will be a potential goldmine. Investors are concerned about liability when driverless cars become more mainstream. Under …
Via: Claims Journal
There’s a popular T-shirt on Hatteras Island along the North Carolina Outer Banks that says: “One road on. One road off (sometimes)” — poking fun at the constant battle between Mother Nature and a thin ribbon of pavement connecting the …
Via: Claims Journal
Hurricane Erin is muddling computer models and making forecasters, analysts and traders question the accuracy of the outlook for heat, wind and storms across Europe next week. Erin, which churned through the Atlantic 330 kilometers (205 miles) off the North …
Via: Claims Journal
The number of battery electric vehicle claims in the U.S. dropped for the first time in the second quarter by 7%, coinciding with a 6% year-over-year reduction in new BEV purchases, a new report shows. The report from Mitchell also …
Via: Claims Journal
Solar and wind energy companies are betting on a novel form of insurance to protect their assets against wild and volatile weather — the very type of climate risk they were set up to fight. Renewable power projects can lose …
Via: Claims Journal
New York state officials recently reported on two workers’ compensation fraud investigations involving Long Island residents who received thousands in benefits while engaging in off-the-books work — including one coaching high school soccer and another flipping cheesesteaks for his food …
Via: Claims Journal
Over the past decade, the insurance industry has undergone an increasingly rapid transformation, driven by advancements in machine learning, artificial intelligence and now generative AI technologies. These advancements have enabled insurers to automate routine tasks such as data entry, document …
Via: Claims Journal