Arson-For-Profit That Caused Death of Firefighter Results In 360 Months in Federal Prison As I have said many times, arson-for-profit is the most evil form of insurance fraud and one where people are injured or die. Arson-for-profit fraud is highly profitable and is engaged in by people who have no concern for the lives or […]
By Kevin Ross It used to be that certain parts of the processing of a Workers Compensation Claim were 100% manual. The gathering, organization, and analysis of files – the first step in processing any new claim – was an unavoidably time-intensive task. A human got boxes of paper files or electronic pdfs (or other […]
According to Price Waterhouse and Coopers & Lybrand (PwC), Artificial Intelligence has the potential to contribute $15.7 trillion to the global economy by 2030. While AI impacts nearly every industry, the insurance market is rife with the opportunity to leverage AI in business operations. Advanced technology such as this not only grants insurers a competitive […]
Commendably, New York Department of Financial Services Superintendent Linda A. Lacewell announced the New York State Department of Financial Services (DFS) has launched DFS FastForward, a new program to support innovators seeking to deliver new solutions in financial services, FinTech, InsurTech, and HealthTech for New Yorkers in the COVID-19 era. “As New York begins re-opening, […]
AmTrust Exec, a division of AmTrust Financial Services, Inc. offering a full suite of management liability products, announced that it has introduced a new Commercial Crime product to provide coverage for a wide range of medium- and large-sized businesses. Melissa Schwartz joined AmTrust in January 2020 from Euclid Exec to lead their Commercial Crime product […]
In June, amidst the rioting, the Superintendent of Financial Services (“Superintendent”) promulgated an emergency 17th amendment to 11 NYCRR 216 (Insurance Regulation 64). This amendment applies to any claim filed on or after May 30, 2020 for loss of or damage to real property, loss of or damage to personal property, or other liabilities for […]
The Independent Insurance Agents & Brokers of America (the Big “I”), along with International Risk Management Institute (IRMI) and WebCE® have partnered to offer EXCEED, a new online learning program designed to reinforce and build upon agents’ training through interactive modules on property-casualty insurance topics and scenarios. Written by top property-casualty industry experts, EXCEED is […]
Officers of the Professional Insurance Agents of New Jersey for 2018-19 were elected during the association’s annual business meeting. Steven C. Radespiel of Hillsdale, N.J., was elected president. Radespiel is president of Insurance Center of North Jersey in Maywood, N.J. Michael DeStasio Jr., TRIP, of Iselin, N.J., was elected president-elect. DeStasio is senior vice president […]
The annual survey of independent insurance agents from Channel Harvest Research shows insurance at a crossroads when it comes to ease of doing business and a divergence between agents who value the personal touch and those who promote self-service. Nearly 2,000 agency staff — from principals to producers to CSRs — participated in the survey […]
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