By Max Schloemann According to reports, this year is looking to be one of changes and big possibilities for surgeons. While 2020 brought declines in surgical revenue and drops in patient intake, the COVID-19 pandemic caused a paradigm shift. Adaptations and innovations designed to cope with the pandemic could be a boon for the surgical […]
Thomas Girardi, a prominent Los Angeles attorney faced a federal judge in Chicago who froze the assets of his firm after finding that he misappropriated at least $2 million in client funds that were due to the families of those killed in the crash of a Boeing jet in Indonesia. Girardi is one of the […]
For nearly four years now, New York auto insurers have awaited with trepidation a decision from New York’s Appellate Division, Second Department, on a question of great urgency: is “policy exhaustion” a complete defense to a PIP lawsuit (or arbitration) if the policy became exhausted after the claim was denied? The general rule of policy […]
By Nigel Cannings
Ongoing investment suggests that the perception amongst insurance professionals is yes. According to a 2021 survey, approximately 31% of insurance CIOs reported that they had already deployed AI and an additional 23% will deploy in the next 12 months. Focusing on Fraud and a recent survey by the Coalition Against Insurance Fraud showed that 21% of respondents are planning on investing in AI for fraud detection over the next 2 years. Yet against this backdrop of adoption, we see that most insurance companies process only 10-15% of the data they hold.
Objective Technical Expertise As so many in business today strive for social relevance and for a place in the sun that shines through social media, we must applaud The American Academy of Actuaries, the people who are the brunt of jokes about personality and senses of humor – not true by the way. The AAA […]
The Big “I” presented William “Bill” E. Harrison Jr., chairman of the Big “I” Reinsurance Company, with the Woodworth Memorial Award at the Big “I” virtual Board of Directors meeting on Jan. 28. The Woodworth Memorial Award recognizes individuals who serve the insurance industry and the Big “I” with uncommon dedication. It is the association’s […]
Jodie A. Papa, the Manager of National Fire Adjustment Co., Inc. headquarters office located in Buffalo, New York has been elected as National President o the National Association of Public Insurance Adjusters (NAPIA) which was established in 1951 to promote a higher standard for policyholder advocacy. Ms. Papa worked her way up the ladder with […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Colder temperatures can present challenges for business owners and their employees. With the COVID pandemic and the switch to more people working remotely, the challenges were increased. Employee and client safety are as important as profits to the conscientious business owner. […]
By Thomas Mason S&P’s latest Global Market Intelligence report on the insurtech market, sees the creation of U.S. insurtech companies that both sell and underwrite policies (a.k.a. full-stack) accelerated in 2020, aided by an abundance of venture capital.This trend is likely to continue in 2021, which will in turn spur more private capital raises, M&A […]
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