Office building owners, hammered by falling demand and high interest rates, struggled in 2023. But they mostly managed to stay afloat. That is going to be a lot harder to do next year.
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Generative AI in P&C Insurance: Promise and Peril for Personal and Commercial Lines
This past year has been marked by the excitement surrounding generative AI and ChatGPT taking industries by storm.
Loss Costs Drive Negative U.S. Personal Lines Outlook; DUAE Market Grows Despite Vesttoo Bankruptcy
High losses in both homeowners and auto lines prompted AM Best to maintain a negative outlook on the U.S. personal lines segment while the rating agency also maintained a positive outlook for the delegated underwriting authority enterprises segment, AM Best analysts said in a market outlook briefing.
Salaries Surge for Experienced and Strategic Risk Professionals in 2023
RIMS 2023 Compensation Survey highlights the escalating demand for strategic and seasoned risk leaders with U.S.-based Enterprise Risk Management Directors reporting a 13.3% salary increase and risk management veterans with 25 years or more of experience seeing a 11.5% increase over the past two years.
Activision Blizzard to Pay $54M to Settle California State Workplace Discrimination Claims
Activision Blizzard has agreed to pay about $54 million to settle discrimination claims brought by California’s civil rights agency on behalf of women employed by the video game maker.
Munich Re Announces Profit Target of €5B for 2024
Thanks to consistently good operational performance in all business segments, Munich Re is aiming for a net profit of €5bn in 2024. Group insurance revenue is expected to reach €59bn in 2024, and return on investment to improve noticeably to above 2.8%.
ReSource Pro Releases New Research Report on AI in Personal Lines
The rapid advancement of artificial intelligence is having a profound impact on personal lines insurance today. T
Are Insurance Mergers & Acquisitions Set for a Comeback in 2024?
Will the M&A downturn in our industry continue? Or is this just a blip, with deals set to make a comeback in the coming year? We take a look at what’s behind the M&A decline, the players behind the deals, and what we should expect moving forward.
Class-Action Lawsuit Accuses Humana of Using AI Algorithms to Restrict Access to Care
A newly filed lawsuit alleges that Humana used artificial intelligence algorithms to deny key rehabilitation care for seniors.
Incoming Louisiana Insurance Commissioner Wants More Carriers, but Not Through Incentive Program
Louisiana’s Insurance Commissioner-elect, Tim Temple, said the state desperately needs more insurance capacity for its property market, but he is ruling out the insurance incentive program touted by outgoing Commissioner Jim Donelon.