Executive Summary: While the advancement of technology in electric vehicles and other lithium-ion powered goods facilitates energy transition from fossil fuels, the fire risks associated with such products need proactive management, writes Dr. William Moore, global loss prevention director, The …
New York Attorney General Letitia James announced a settlement of nearly $230,000 with a contracting agency and the board of managers of a New York City condominium building for failing to pay workers in the building the prevailing wage required …
The Tennessee Supreme Court this week dealt a blow to businesses and insurance companies, finding that employers can no longer argue that direct negligence claims are barred when the business admits vicarious liability for a worker’s actions. “We hold that …
A poll to understand American consumers’ attitudes toward artificial intelligence in the property/casualty insurance sector shows the strongest support for AI’s use in fraud detection, delivering personalized products and promotions and AI in customer service. According to a poll conducted …
Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC Insurance Holdings Inc., and Selective Insurance Group Inc. — to gauge trends for …
As generative AI transitions from an emerging innovation to a tried-and-true tool, this multi-use technology has given way to key use cases for the risk and insurance space. According to a recent study, by the end of 2023, half of …
New technologies and rising labor costs are putting pressure on auto insurance carriers and auto repairers by making repairs more costly and increasing repair times, trends that a new report asserts are “reshaping” the industries. The bottom-line message: Newer vehicles …
A report from the Colorado Chamber of Commerce and the American Property Casualty Insurance Association estimates a proposal to remove the noneconomic damage caps in Colorado would result in a $2.1 billion annual loss in state GDP and 15,500 jobs. …
Jatiek Smith, a Bloods gang member convicted on extortion and racketeering charges in New York, blamed ruthless competition and a culture of violence in the fire restoration industry for the accusations made against him by federal prosecutors. Smith was a …
Thousands of homes and businesses were without power this week as severe weather roared through several states, causing at least one death and spawning possible tornadoes. Parts of Ohio, Pennsylvania, Kentucky, Mississippi, Alabama, Tennessee, West Virginia, Virginia and Georgia were …