This report highlights key takeaways from a recent Risk & Insurance interview with eMaxx CEO Brian McCarthy and also focuses on eMaxx’s upcoming 2023 Reimagining Possibility Risk Management Summit.
Author: Annie George
Growth in Insurers’ Private Equity Investments Slowed Significantly in 2022
U.S. insurance companies’ private equity investments slowed in 2022, rising just 3.3% in 2022 to $132.0 billion, following a year of exceptional growth in the previous year, according to a new AM Best report.
Cybersecurity Spending Grows
Cybersecurity budgets have largely been protected from the worst consequences of economic uncertainty, but have hardly been untouched by wider trims to company spending.
Lloyd’s Updates LOC Guidance, Stresses Need to Check Validity
Lloyd’s has issued revised guidance for members and members agents on Tier 2 capital limits, which encompasses the use of letters of credit (LOC) in the marketplace and in it has stressed how important it is that LOC’s have their validity confirmed on a regular basis.
Cigna Is Paying Over $172M to Settle Medicare Advantage Reimbursement Claims
Health insurance provider The Cigna Group will pay more than $172 million over claims it gave the federal government inaccurate Medicare Advantage diagnoses codes in order to inflate reimbursement.
Microsoft CEO Says Tech Giants Battling for Content to Build AI
Microsoft chief executive Satya Nadella said Monday tech giants were competing for vast troves of content needed to train artificial intelligence, and complained Google was locking up content with expensive and exclusive deals with publishers.
U.S. Auto Insurer Claim Payouts Soar Due to Increasing Inflation
U.S. personal and commercial auto insurer liability claim payouts combined were $96 billion to $105 billion higher between 2013 and 2022 because of social and economic inflation, according to a new Insurance Information Institute (Triple-I) study.
Howden Harnesses the Collective Power of Its Global Broking Operations Under New Brand
Howden, the global insurance group, today unveils a new brand as it brings together its global broking operations under one name.
Progressive Insurance ‘Rebalancing’ Policies in Florida
Property owners in Florida who have Progressive insurance may have to find a new policy soon.
Is Your AI Model Going Off the Rails? There May Be an Insurance Policy for That
Taking a page from cybersecurity insurance, which saw an uptick in the wake of major breaches several years ago, insurance providers have started taking steps into the AI space by offering financial protection against models that fail.