Product recalls across several various sectors experienced record breaking product recalls, according to a recent Sedgwick report. Regulatory changes within the last year could serve as the reasoning for the five-year high.
Conning survey reveals a surge in AI adoption within the insurance industry, with large language models leading the tools being explored for sales, underwriting, and claims processing.
AI isn’t just being used by the good guys. As cybercriminals incorporate AI tools into their arsenals, organizations must ramp up their mitigation and response plans.
In an era of geopolitical shifts and macroeconomic transitions, businesses must navigate unpredictable challenges and capitalize on emerging opportunities, according to a Marsh report.
Rising reinsurance costs and inflation contributed to an increase in rating downgrades for U.S. property and casualty insurers in 2023, according to AM Best.
COVID-19 has prompted changes in workers’ compensation coverage to include the virus as a compensable illness in many jurisdictions, prompting a broader consideration of how to permanently extend coverage for contagious diseases.
The National Academy of Social Insurance’s 2017-2021 report reveals the pandemic’s impact on workers’ compensation, highlighting decreased benefits and employer costs, and the need for adequate state protections.
Corporate fraud cases are on the rise, requiring more vigilance and internal controls before misdeeds cause a crisis, warns a report by Arthur J. Gallagher & Co.
MSL Captive Solutions hires a chief underwriting officer, the U.S. Justice Department appoints a chief AI officer, and more in this edition of People on the Move.
United Educators’ 2023 report reveals escalating financial risks in education due to rising liability claims, emphasizing the need for robust risk management.
Facing increased competition and regulatory pressures, the U.S. D&O insurers receive a negative outlook with declining premiums and rising legal expenses.