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If there is a bright side to the tumultuous ride that was 2020, it's the surprisingly agile turn property insurers took to move away from traditional reactive approaches toward more proactive customer experiences. At the center of this change is the drive in demand for aerial and satellite imagery. At the onset of its introduction... read more | |
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November was a wet month in many countries across the globe, with heavy rains and flooding causing billions of dollars of economic losses, according to Aon's monthly Global Catastrophe Recap report, which each month evaluates the impact of global natural disaster events. "The reality of heavier rainfall events and subsequent flooding continues to become more... read more | |
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Our understanding of earthquake risk is ever-changing. Over the past two decades, the United States Geological Survey (USGS) has released five iterations of the National Seismic Hazard Model (NSHM), which is commonly used in risk assessment. From the hazard updates in the latest USGS 2018 ... read more | |
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Members of the National Association of Insurance Commissioners voted on Dec. 16, 2021, to form a new Innovation, Cybersecurity, and Technology (H) Committee to address the insurance implications of emerging technologies and cybersecurity. The committee is the first new letter committee created since 2004, according to a statement from the NAIC, which said that the... read more | |
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As the five-week trial of a Credit Suisse Group AG life insurance unit began to wind down last Thursday afternoon, the presiding judge cut to the chase. Lawyers for Credit Suisse Life (Bermuda) Ltd. had spent weeks fending off allegations from Georgian billionaire Bidzina Ivanishvili that the unit bears responsibility for failing to prevent convicted... read more | |
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SPONSORED BY: EIS As the digitization of insurance accelerates, emerging technologies have the potential to deliver differentiated products and winning experiences. Insurance CEOs who are attuned to the opportunities and threats of digital transformation must consider the IT department's ability to support change. Download this checklist to learn how... read more | 
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Cybersecurity researchers at Rutgers University-New Brunswick and the Georgia Institute of Technology have proposed new ways to protect 3D-printed objects such as drones, prostheses and medical devices from stealthy "logic bombs." The researchers will present their paper, titled "Physical Logic Bombs in 3D Printers via Emerging 4D Techniques," at the 2021 Annual Computer Security Applications... read more | |
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Last month, Carrier Management Guest Editor and CB Insights Analyst Mike Fitzgerald hosted a roundtable bringing together participants in the world of geospatial information systems, seeking to understand reasons behind the increased interest in applying imagery data to existing and emerging insurance problems. During the roundtable (video accessible above), representatives of a commercial insurer, a... read more | |
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Actuaries and insurance technology professionals who explain their work using the phrase "It's not rocket science" may need to rethink their choice of words, according to research published in the Christmas issue of The BMJ (British Medical Journal). The study finds that rocket scientists and brain surgeons are no smarter than the general population. Despite... read more | |
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The board of governors for Citizens Property Insurance Corp., Florida's state-backed insurer of last resort, wants the maximum allowed rate increase – 11% for next year and 12% for 2023 – in an effort to stem the insurer's rapid growth. At its meeting Wednesday, the board overrode a staff recommendation of a 7.3% rate increase... read more | |
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FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China tightens its grip on overseas listings. The company said in a filing Monday with the U.S. Securities and Exchange Commission that it's "considering other alternatives" and has decided not to proceed with its New York... read more | |
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