July 29
AI Aims at Fraud
The Complete Guide to AI in Insurance Fraud Detection
By Kumar Patel, Founder and CEO of Omnidya.
The insurance industry is rapidly evolving. Emerging technologies are breathing new life into daily operations; and artificial intelligence (AI) has the singular potential to pervade every facet of insurance processes with advanced analytics, powerful predictions, and more robust risk management strategies.
Cuomo Call to Investigate Advertisers Use of Facebook Platform Points in Right Directions
Reasoning that Facebook’s advertising platform enables its advertisers to use personal data such as race, color, religion and a host of other characteristics to discriminate, New York Governor Andrew M. Cuomo called on the Department of Financial Services to investigate reports that state-regulated advertisers are using Facebook, Inc.’s advertising platform to discriminate against protected classes. […]
Failure to Comply with Wage Notice Provisions of New York Law Brings Steep Penalties
With the recent flurry of litigation surrounding the technicalities of complying with wage statement requirements, many insurance industry executives are taking the opportunity to review their compliance with wage statement and wage notification laws. The New York law is part of a growing trend to ensure greater wage transparency. Neighboring states are developing similar laws […]
Are SMB Independent Agencies Dead?
Will small to medium sized independent agencies suffer the same fate as dinosaurs – extinction? There are a number of folks out there predicting their demise. I’m not so sure they are accurate. The opportunity still exists for SMB agencies to be viable but it requires a serious change in structure and operation. Those agencies […]
Workplace Stress in a Nutshell
By Donald T. DeCarlo, Esq. Stress is commonly cited as the cause of an increasing number of workers compensation claims. What is stress? The word “stress” should be defined and the types of stress claims described before we focus on this workers compensation claims trend. Stress means response behavior that is unique and personal, with […]
The Morality of Life and Death and Doctors
By Marilyn M. Singleton, M.D., J.D. June has been a month of reflection on life, death, our values, and the greater good. We commemorated the 75th anniversary of the 1944 Normandy invasion (D-Day), which began the liberation of France from German occupation and turned the tide of World War II. In what must have been […]
Drivers with Poor Credit Pay Twice as Much for Car Insurance — Even With a Spotless Driving Record
How does your credit score affect the price of your car insurance rates? How does that vary by state? Based On A National Analysis Of 61 Million Car Insurance Rates Most consumers know that credit plays a big role in their finances, whether they’re applying for a credit card or considering a car or home […]
A Binder is an Insurance Contract
Once Coverage is Bound Cancellation Requires Compliance with Statutory Requirements Insurance agents and brokers like to write insurance business. They will often bend over backwards to collect a premium and place a policy. When an insured is offered coverage, accepts the coverage, even without payment, a binder (evidence of insurance to be issued in the […]
Storm In Progress Rule – Premises Liability
In this personal injury suit, plaintiff slipped on ice a few steps away from the entrance to a subway station. She sued the Transit Authority and an adjacent delicatessen. Both defendants moved for summary judgment based on the “storm in progress” rule as it was snowing at the time of the accident. Supreme Court denied […]
