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Marsh McLennan launches AI-powered solution to enhance supply chain risk management

Reinsurance News

Marsh McLennan, a global re/insurance broker, has launched Sentrisk, an AI-powered platform with integrated advisory services that aims to redesign the way businesses manage global supply chain risk. Sentrisk enables clients to map supply chains c...

Posted: May 28, 2024

Vital role of re/insurance in mitigating AI risks in health sector: Swiss Re

Reinsurance News

In response to Swiss Re Institute’s recent report revealing the health sector’s increased vulnerability to AI-related threats, Pravina Ladva, Group Chief Digital & Technology Officer at Swiss Re, highlights the critical role of re/insura...

Posted: May 28, 2024

Live Nation Ticket Buyers Sue in Wake of US Justice Department Case

Insurance Journal

Live Nation and its Ticketmaster unit have been hit with the first in a likely wave of new consumer antitrust lawsuits after the U.S. government and states sued to break up the two companies on Thursday. The first consumer class …

Posted: May 28, 2024

US Intelligence Agencies’ Embrace of Generative AI Is Wary and Urgent

Insurance Journal

Long before generative AI’s boom, a Silicon Valley firm contracted to collect and analyze non-classified data on illicit Chinese fentanyl trafficking made a compelling case for its embrace by U.S. intelligence agencies. The operation’s re...

Posted: May 28, 2024

777’s Football Empire Under Review After Lender Hires Moelis

Insurance Journal

Moelis & Co. has been hired to review 777 Partners LLC’s portfolio of football teams, people with knowledge of the matter said, raising fresh questions about the future of one of the sport’s biggest multiclub owners. The investment ba...

Posted: May 28, 2024

Mississippi Wind-Mit Program Now Funded Through Surplus Lines Assn. Revenue

Insurance Journal

Almost two decades after it was established by the Mississippi Legislature, a storm and flood-mitigation grant program now has some funding – $5 million to be transferred from the Mississippi Surplus Lines Association. “The Legislature didn&#82...

Posted: May 28, 2024

Safety Probe Into Waymo Self-Driving Vehicles Finds More Incidents

Insurance Journal

The National Highway Traffic Safety Administration said Friday it has learned of nine additional incidents that raise concerns about the performance of Alphabet’s Waymo self-driving vehicles. Earlier this month, the U.S. auto safety regulator o...

Posted: May 28, 2024

Washington Asbestos Removal Company Fined Nearly $800K

Insurance Journal

A Lynnwood, Washington, asbestos removal contractor is facing stiff fines for knowingly and repeatedly exposing employees and homeowners to extremely hazardous conditions. The Washington Department of Labor & Industries inspection of two Seattle...

Posted: May 28, 2024

Inszone Acquires Nam International Insurance Services in California

Insurance Journal

Inszone Insurance Services acquired Nam International Insurance Services Inc. in Fremont, California. Nam was founded in March 2003 by Parvinder Janda to serve the insurance needs of individuals and businesses in the Fremont area. Sacramento, Califor...

Posted: May 28, 2024

Euclid Program Managers launches new offering for marine cargo

Reinsurance News

Euclid Program Managers, a family of insurance program managers, has launched Euclid Marine, LLC, a program manager committed to delivering comprehensive marine cargo and stock throughput coverage for North America. Euclid Marine will be led by in...

Posted: May 28, 2024

Medicare: 5 Compliance Trends to Look for in Plan Year 2025

Insurance Journal

This post is part of a series sponsored by AgentSync. In 2024, the Center for Medicare and Medicaid Services (CMS) introduced changes to the rules it sets for Medicare Supplement, Medicare Advantage, and Part D insurance carriers and agencies, and &#...

Posted: May 27, 2024

Uvalde Families Sue Meta and Call of Duty Maker

Insurance Journal

USTIN, Texas (AP) — Families in Uvalde took more legal action Friday on the second anniversary of the Robb Elementary School attack, suing Meta Platforms, which owns Instagram, and the maker of the video game Call of Duty over claims …

Posted: May 27, 2024

Michigan Dairy Worker Diagnosed With Bird Flu

Insurance Journal

A Michigan dairy worker has been diagnosed with bird flu — the second human case associated with an outbreak in U.S. dairy cows. The male worker had been in contact with cows at a farm with infected animals. He experienced …

Posted: May 27, 2024

Storms Leave 15 Dead, Hundreds Injured in Texas, Oklahoma, and Arkansas

Insurance Journal

VALLEY VIEW, Texas (AP) — Powerful storms killed at least 15 people, injured hundreds and left a wide trail of destruction Sunday across Texas, Oklahoma and Arkansas after obliterating homes and destroying a truck stop where dozens sought shelter in...

Posted: May 27, 2024

bolttech Partners with B2B Procurement Company HAVA.id for Device Protection

IIR

HAVA.id’s business customers can now enjoy comprehensive device protection solutions for their technology devices.

Posted: May 27, 2024

Musk’s xAI raises $6 billion

coverager

The 2023 Life Insurers Fact Book highlights the growth in individual life insurance and group annuities, as well as a decline in the number of active life insurers in the US.

Posted: May 27, 2024

Report Claims ‘Utter Chaos’ Including Drunk Deputies During Search for Maine Gunman

Insurance Journal

The search for the gunman behind last October’s mass shooting in Maine was marked by “utter chaos,” including one group of deputies who had been drinking nearly crashing their armored vehicle and others showing up in civilian clothe...

Posted: May 27, 2024

Roofing Contractor to Contest OSHA Citations After Employee’s Fatal Fall

Insurance Journal

The Occupational Safety and Health Administration (OSHA) has determined that a Massachusetts roofing contractor again violated federal regulations for fall protections, following an investigation into how an employee fell about 27 feet and was killed...

Posted: May 27, 2024

AI in Insurance: Balancing Tech Innovations with Human Insight for Optimal Service

IIR

Insurance players who think they can replace independent agents with AI are likely getting in the way of greater growth. Instead, they should view AI as a tool that can augment human knowledge, making their relationships with expert agents even more...

Posted: May 26, 2024

Best Antidote to Medical Overbilling

Insurance Thought Leadership

Best Antidote to Medical Overbilling Life & Health ClareCarroll1

Posted: May 25, 2024

If Data Is the New Oil, Why Do We Insure So Little of It?

Insurance Thought Leadership

If Data Is the New Oil, Why Do We Insure So Little of It? PaulCarroll

Posted: May 24, 2024

Is Your Customer Portal Good Enough?

Insurance Thought Leadership

Is Your Customer Portal Good Enough? From Our Partners sradomski

Posted: May 24, 2024

NOAA: Atlantic Hurricane Season Could See up to 25 Named Storms

Carrier Management

NOAA: Atlantic Hurricane Season Could See up to 25 Named Stor...

Posted: May 24, 2024

Navigating Tough Markets: The Case for Advanced Risk Selection in P&C Insurance

Insurance Thought Leadership

Navigating Tough Markets: The Case for Advanced Risk Selection in P&C Insurance From Our Partners sr...

Posted: May 24, 2024

Caterpillar to Pay $800K Over Systemic Hiring Discrimination at Illinois Plant

Insurance Journal

Heavy equipment company Caterpillar has agreed to pay $800,000 to resolve allegations of systemic hiring discrimination against Black applicants at an Illinois plant, the U.S. Labor Department said on Tuesday. The money will cover back wages and inte...

Posted: May 24, 2024

Swiss Re’s US economic outlook: normalisation continues

Reinsurance News

Through the second quarter, strong consumer fundamentals boost GDP forecasts, but persistent inflation prompts revisions, while anticipated interest rate adjustments reflect a cautious approach by policymakers, as noted by global reinsurer Swiss R...

Posted: May 24, 2024

Judge Signs Off on Ohio Train Derailment $600M Settlement

Carrier Management

Judge Signs Off on Ohio Train Derailment $600M Settlement A federal judge has signed off on the $600 mi...

Posted: May 24, 2024

More Incidents Found in Safety Probe of Waymo Self-Driving Vehicles

Carrier Management

More Incidents Found in Safety Probe of Waymo Self-Driving Vehicles The Nationa...

Posted: May 24, 2024

P&C Premium Growth from MGAs Surges for Third Straight Year

Risk & Insurance

Specialty insurance niches and growing tech expertise are driving continued growth of the MGA and insurer collaborations, according to AM Best. The post

Posted: May 24, 2024

Insurers Are Working to Shore Up the $2 Billion Carbon Offset Market

Insurance Journal

Data fraud, questionable accounting practices and intensified catastrophes are just some of the issues that have battered the voluntary carbon market. Those misfortunes have helped spur a new line of business: Insurance policies designed to de-risk c...

Posted: May 24, 2024