INSURANCE NEWS
ChatGPT-Wary Universities Scramble to Prepare for New School Year
ChatGPT set the academic world ablaze after it was introduced in November, when the AI chatbot suddenly gave students a hard-to-detect shortcut for completing essays and assignments. Nine months later, as a new school year nears, many universities are still …
Two Dead After Plane Strikes Power Line in North Carolina
Two people died when a small plane struck a power line and crashed into a western North Carolina lake, a city official said. The crash occurred about 11:30 a.m. Sunday on Lake Hickory, said Sarah Killian, a spokesperson for the …
Montana Clinic Files for Bankruptcy After $6M False Asbestos Claims Ruling
A health clinic in a Montana town plagued by deadly asbestos contamination has filed for bankruptcy protection after a judge ordered it to pay the government almost $6 million in penalties and damages for submitting hundreds of false claims for …
More Signs of Life in Florida: New Insurers in Market, More Citizens Takeouts
Florida’s property insurance market is showing more signs of life, with another company requesting a large takeout order from Citizens Property Insurance and two new companies entering the arena. Tampa-based HCI Group’s CEO Paresh Patel said in an earnings call …
What Sparks US Wildfires: Power Lines, Burning Trash and Lightning
The fast-moving fire that ripped through Maui’s historic town of Lahaina killed more than 90 people, making it the deadliest US wildfire in more than a century. The cause of the blaze is still under investigation, but power equipment in …
Clorox Takes Down Some IT Systems After ‘Unauthorized Activity’
Clorox Co. has taken some of its information technology systems offline after identifying “unauthorized activity” in its computer networks that has disrupted some business operations. The incident is expected to continue to affect some parts of the business operations, the …
Don’t Forget About Continuing Ed for Transportation Insurance Professionals
In the fast-paced and ever-changing world of insurance, staying up-to-date with industry trends, regulations, and best practices is paramount. For insurance professionals serving the transportation industry, this is even more crucial due to the sector’s unique challenges and complexities. That’s …
Increased Vehicle Sales, Search for Lower Rates Boost Auto Insurance Shopping
Auto insurance shopping rates rose 12% year-over-year in the second quarter of 2023, according to a new TransUnion report. While vehicle sales played a role in the increase, TransUnion said in a press release that the search for lower insurance …
Broken Wheel Causes Derailment of Train Blocking Swiss Tunnel
The derailment that blocked the Gotthard tunnel in Switzerland last week was caused by a broken wheel on the freight train, according to investigators. The Swiss Accident Investigation Service said its investigators had found pieces of the train’s wheel at …
Markets/Coverages: Chubb Launches Vehicle Tracking System in UK to Stymie Car Theft
Chubb has launched a vehicle tracking system in the UK to help protect the insurer’s customers from car theft. With criminals now often targeting high-value vehicles – particularly “keyless” models – Chubb S5 Vehicle Tracker and Chubb S5 Vehicle Tracker …
2023 Summer Heatwaves – Insights on Heat Stress in a Changing Climate: RMS
Executive summary: Climate change, caused by human activity, is already leading to an increase in the frequency and severity of hot extremes, including heatwaves. While it is difficult to ascribe any given event to climate change, Moody’s RMS says, extreme …
What Are China’s ‘Sponge Cities’ and Why Aren’t They Stopping Urban Floods?
China has been hit by devastating floods in recent weeks, inundating cities and causing deaths and infrastructural damage, as well as raising questions about the effectiveness of its 2015 “sponge city” initiative aimed at reducing urban flood risks. The initiative …