U.S. commercial auto insurance premiums increased year over year in the first quarter of 2023, with Liberty Mutual Holding Co. Inc. and Auto-Owners Insurance Co. Inc. posting the biggest growth, according to an S&P Global Market Intelligence analysis.
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Tech & Advanced Digital Marketing Driving Increased Claims Litigation Against Insurers
The latest Artemis live video interview from Reinsurance News’ insurance-linked securities (ILS) focused sister publication, delves into the world of technology enabled claims instigation, which the Co-founders of 4WARN Inc. explained is resulting in both higher claims and litigation.
Law Firms Are Recruiting More AI Experts as Clients Demand ‘More for Less’
As clients demand more for less, law firms are hiring growing numbers of staff who’ve studied technology not tort law to try and stand out from their rivals.
Vermont Schools Sue Monsanto Over Toxic PCB Contamination
Last year, Vermont became the first state in the country to require older schools to test their indoor air for polychlorinated biphenyls, which were used in building materials and electrical equipment before 1980.
BNSF Gets New Trial in Truckers’ Biometrics Case
A federal judge has vacated a jury’s decision to order BNSF Railway to pay $228 million for requiring truck drivers to scan handprints to verify their identities at secured rail yards, which they claimed violated their rights under Illinois’ biometric privacy law.
Ransomware Criminals Are Dumping Kids’ Private Files Online After School Hacks
Complete sexual assault case folios containing these details were among more than 300,000 files dumped online in March after the 36,000-student Minneapolis Public Schools refused to pay a $1 million ransom.
U.S. Property Catastrophe Reinsurance Rates Rise Up to 50% on July 1: Report
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a report on Monday, with states such as California and Florida increasingly hit by wildfires and hurricanes.
Velocity Risk Secures AM Best A- Rating, Accelerates MGA-Carrier Hybrid Strategy
Velocity HoldCo., LLC, the holding company for Velocity Risk Underwriters, LLC (“Velocity Risk”), a tech-enabled E&S specialty property insurance managing general agent and Velocity Claims LLC, a leading claims management service, is expanding its business to now include a rated E&S insurance carrier licensed in all 50 states.
Elon Musk Ghosts Twitter Layoff Arbitration Cases
Twitter Inc. is refusing to engage in arbitration with ex-employees who were fired when Elon Musk took over the company after pushing them to use that process to resolve claims that they weren’t paid, didn’t get promised severance, or were discriminated against, according to a lawsuit.
NOAA’s 1-in-100 Year Flooding Can Now Be Expected Every 8 Years
According to First Street Foundation, in the most extreme cases, over 20 counties in the US – home to over 1.3 million people – are expected to experience the current “1-in-100 year flood” severe event at least once every 8-10 years.