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Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re
Jul 18 2024 // Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025, as general inflation and claims inflation conditions soften, according to Swiss Re in a report, which...
Federal Appeals Court Upholds Dismissal of Manufacturer’s COVID-19 Claims
Jul 16 2024 // A Connecticut-based manufacturer has been denied another opportunity to seek $100 million in insurance coverage for business losses it claims it sustained because of the COVID-19 virus. Amphenol Corp.– a manufacturer of...
6 Charged With Bogus Overseas Claims for Gun Shot Wounds, Stabbings, Auto Accidents
Jul 16 2024 // Five Massachusetts residents and one New York resident have been charged in connection with a health insurance fraud scheme that allegedly involved submitting claims for more than $1 million worth of bogus medical...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Jul 15 2024 // A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher...
The Problem(s) With Hail Claims – Part 3
Jul 15 2024 // My previous two columns (May and June 2024) addressed issues with hail and windstorm claims regarding the discovery and reporting of damage, actual cash value versus replacement cost valuation and 180-day reporting...
Farmers Adjusters Cry Foul Over Workloads, Claims Handling in Letter to Regulators
Jul 15 2024 // Farmers Insurance officials said in June that they have spoken with employees after receiving an anonymous letter, apparently from a group of in-house adjusters, accusing the insurer of understaffing and overworking claims...
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