US committee has demanded Mark Zuckerberg answer claims that Facebook failed to protect users’ health data, leaving vulnerable people open to harassment and discrimination. The House of Congress Energy and Commerce Committee, which has been tasked with scrutinising social media companies, suggested that Facebook misled users into joining “anonymous” groups without realising they were exposing… Continue reading Mark Zuckerberg Ordered to Answer Claims that Facebook Exposed Private Health Data
Tag: insurance
Cohen & Co. Targets Reinsurance & Insurtech Acquisitions
Cohen & Company, LLC, a fixed income financial services specialist with over $3 billion under management, is seeking to raise capital for what is termed a blank check company that will target acquisitions in the insurance, reinsurance and insurtech space under the leadership of John Butler. Cohen & Company hired John Butler as Managing Director… Continue reading Cohen & Co. Targets Reinsurance & Insurtech Acquisitions
CT Insurance Dept. Recoups $8M for Policyholders, Taxpayers
The Connecticut Insurance Department said it recovered nearly $8 million for policyholders and taxpayers in 2018, according to Acting Commissioner Paul Lombardo. Lombardo, serving in place of former Commissioner Katharine L. Wade, on Friday said his agency’s Consumer Affairs Unit handled 6,350 complaints and inquiries in 2018, resulting in over $5.5 million being returned to… Continue reading CT Insurance Dept. Recoups $8M for Policyholders, Taxpayers
IoT Could Unleash More Insurance Innovation: Lloyd’s
The advent of the Internet of Things (IOT) has the potential to increase complexity and amplify risk, but it could also enable more innovation throughout the entire insurance value chain, including the way claims are settled in future, according to new research from Lloyd’s. “Networked World: Risks and Opportunities in the Internet of Things”, published… Continue reading IoT Could Unleash More Insurance Innovation: Lloyd’s
Applying AI to Insurance Documents, Omni:us Raises Its First Series A Funding
Earlier this year omni:us, an AI-driven service which is able to process digital documents (some of which contain handwriting) by classifying them and extracting the valuable data, revealed it was working with over half of the top 10 insurance providers in the German-speaking DACH region. It’s now closed a Series A round of funding bringing… Continue reading Applying AI to Insurance Documents, Omni:us Raises Its First Series A Funding
Insurance Industry Charitable Foundation Philadelphia Chapter Raises $15,000 for Peter’s Place Donation
The Philadelphia Chapter of the Insurance Industry Charitable Foundation (IICF)’s Northeast Division held a trivia night event for charity on Oct. 10, 2018 at Punch Line Philly. The organization raised $15,000 for Peter’s Place, a grief support center for children and families based in Radnor. “We had a remarkable turn-out from insurance industry professionals all… Continue reading Insurance Industry Charitable Foundation Philadelphia Chapter Raises $15,000 for Peter’s Place Donation
AIG Sees Third-Quarter Catastrophe Losses of $1.5B to $1.7B
Insurer American International Group said on Thursday it expects third-quarter pre-tax catastrophe losses, net of reinsurance, of between $1.5 billion and $1.7 billion. “These losses are largely associated with multiple events in Japan, including Typhoons Jebi and Trami, as well as Hurricane Florence and revisions to our loss estimates on the California mudslides,” AIG said… Continue reading AIG Sees Third-Quarter Catastrophe Losses of $1.5B to $1.7B
Marsh Expands IBM Collaboration to Provide Blockchain Proof of Insurance to More Clients through Salesforce Platform
Marsh, a global leader in insurance broking and innovative risk management solutions, announced today that it is expanding its collaboration with IBM to provide clients with wider access to the industry’s first commercial blockchain solution for proof of insurance. By using blockchain technology, Marsh and IBM are working together to transform the certificate of insurance… Continue reading Marsh Expands IBM Collaboration to Provide Blockchain Proof of Insurance to More Clients through Salesforce Platform
Casualty Actuarial Society and Society of Actuaries Explore Combining Into One New Organization
The Presidents of the Casualty Actuarial Society (CAS) and Society of Actuaries (SOA) jointly announced that the CAS and SOA Boards of Directors agreed to explore a combination of the CAS and SOA into one new professional organization that has the scale and resources to support members’ efforts to shape and grow the evolving areas… Continue reading Casualty Actuarial Society and Society of Actuaries Explore Combining Into One New Organization
Lockton Launches Capital Markets Business
Lockton, the world’s largest privately held, independent insurance broker, today announced the launch of Lockton Capital Markets. The New York-based operation will facilitate investment banking and capital markets transactions focused upon the convergence between insurance and alternative capital. Lockton is launching the business in partnership with Antarctica Capital, a New York-based private equity firm. Vishal… Continue reading Lockton Launches Capital Markets Business