Allen Laman wrote an article for Carrier Management, which was re-published in part in the Claims Journal, Claims Satisfaction Leaders Reveal Secrets to Success. One point of the article came as no surprise, with AMICA claiming top scores in a survey of claims customer satisfaction: Amica Mutual Insurance ranked highest in overall auto claims customer satisfaction …
Trump Selects “Anti-Gensler” for SEC Chair
As D&O insurance professionals try to assess the potential impact on the industry from Donald Trump’s return to the White House next month, one area of focus has been on the Trump’s appointment powers. This includes, obviously, the President’s authority to appoint judges to the federal judiciary, but in addition involves his power to make
A Tale of Two Maps: Homeowners Premium Increases, Climate Risk Increases and How They Relate
It’s interesting. I have been at DRI’s 2024 Insurance Coverage and Practice Symposium all day, and much of the discussion is either directly about or tangentially related to the impact of artificial intelligence on insurance. To me, the consistent theme that underlies all of the discussion is the ability of AI tools to improve the
Guest Post: “Mission Critical”: Director Liability Ticking Time Bomb
Recent case law developments in Delaware’s courts underscore the importance for corporate boards to monitor “mission critical” operations at their companies. These developments have important corporate governance implications, as I detailed in a September blog post (here). In the following guest post, Tim J. Leach, FCPA FCA Managing Director Risk
Insurers Explore New AI Coverage Options, Potentially Filling Coverage Gaps for Policyholders Developing Generative AI
Today, generative AI (“Gen AI”) is one of the world’s fastest growing technologies, with businesses around the globe developing, adopting and incorporating machine-learning and AI technologies into their business models. The very nature of this fast-paced and novel technology brings unique risks that can implicate various lines of insurance coverage including, among others, Cyber, Professional
Oklahoma Issued Bulletin 2024-11: Use of Artificial Intelligence Systems in Insurance
On November 14, 2024, Oklahoma issued Bulletin 2024-11: Use of Artificial Intelligence Systems in Insurance. The Bulletin is applicable to all insurers that hold a certificate of authority to do business in the state and is based upon the NAIC Model Bulletin on the Use of AIS by Insurers.
Read the Oklahoma Bulletin.
The
Guest Post: Managing D&O Compliance, Coverage, and Claims Beyond U.S. Borders
In a guest post published on this site in October 2023 (here), Jane Njavro of Woodruff Sawyer took a look at the perennial issues surrounding the structure of D&O insurance for foreign subsidiaries of domestic U.S. companies. In the following guest post, Alex Hopkins, AVP & Counsel, Travelers Bond & Specialty
NY DFS Issues an Industry Letter Regarding AI Cyber Guidance
On October 16, 2024, the NY DFS issued an Industry Letter explaining “how Covered Entities should use the framework set forth in Part 500 to assess and address the cybersecurity risks arising from AI.”
Read the Industry Letter.
The post NY DFS Issues an Industry Letter Regarding AI Cyber Guidance appeared first on Insurance
China-Based Company Hit with AI-Related Securities Suit
Among the most distinctive and important securities class action lawsuit filing trends this year has been the influx of new lawsuit based on alleged AI-related misrepresentations. In the latest example, on October 15, 2024, a plaintiff shareholder filed a securities class action lawsuit against China-based AI and robotics company, Xiao-I, in which the shareholder alleged
Iowa Insurance Division Releases Proposed AI Bulletin for Comment
On October 10, 2024, the Iowa Insurance Division released for comment a proposed AI Bulletin based upon the NAIC AI Model Bulletin. Comments are due before October 31, 2024.
See letter from Jordan Esbrook, General Counsel.
Read the proposed Bulletin.
The post Iowa Insurance Division Releases Proposed AI Bulletin for Comment appeared first