By William Nibbelin, Senior Research Actuary, Triple-I Economic and social inflation have added a staggering $231.6 billion to $281.2 billion in increased liability insurance losses and Defense and Cost Containment expenses in auto and general liability lines, a new report by Triple-I and the Casualty Actuarial Society. The study – The Impact of Increasing Inflation…
MIT Grad Brothers Fraud Jury Unable to Reach a Verdict
A jury was unable to reach a verdict in the fraud trial of two brothers, both recently graduated from the Massachusetts Institute of Technology, who were accused of stealing roughly $25 million in cryptocurrency from traders on the Ethereum blockchain. …
Vermont Christian School Challenges State’s Education Funding as Discriminatory
The Mid Vermont Christian School is challenging Vermont’s education reform law in federal court, arguing that the law’s set of provisions around public tuition dollars “creates a religious gerrymander and discriminates against religious approved independent schools in Vermont.” The school’s …
Coal Miners With Black Lung Say Government Cuts Are Suffocating the Working Man
Lisa Emery loves to talk about her “boys.” With each word, the respiratory therapist’s face softens and shines with pride. But keep her talking, and it doesn’t take long for that passion to switch to hurt. She knows the names, …
GoDaddy Hit With $170M Patent Verdict Over Web-Design Tech
Internet domain registrar GoDaddy GDDY.N owes a patent owner $170 million for violating its rights in website-building technology, a Delaware federal jury said in a verdict made public on Friday. The jury agreed with Express Mobile that GoDaddy’s web-design tools …
Four Indicted for Roles in New Jersey Home Invasion, Auto Theft Ring
New Jersey Attorney General Matthew J. Platkin and the Division of Criminal Justice (DCJ) reported that four men were charged in a 61-count indictment for their respective roles in an auto theft and home invasion ring. The charges include home …
New Zealand Firefighters Say Tongariro Wildfire Is Coming Under Control
A wildfire that swept across thousands of hectares of New Zealand’s Tongariro National Park appears to be coming under control, officials said. Residents are being allowed back into the area following an earlier evacuation. Rain and the efforts of firefighters …
Typhoon Set to Swing Toward Taiwan After Ripping Philippines
Typhoon Fung-Wong is forecast to swing toward Taiwan after the powerful storm struck the Philippines’ northeast late on Sunday, causing widespread flooding and the suspension of government operations. The cyclone — known locally as Uwan — has now moved over …
Catastrophe Bonds Absorb ‘Black Swan’ Event Dealt by Melissa
A rare thing is about to happen in the $55 billion market for catastrophe bonds: a trigger event will wipe out 100% of a bond’s principal. Jamaica’s $150 million cat bond has been the subject of controversy since it failed …
How EZLynx is Empowering the Next Generation of Insurance with AI
This post is part of a series sponsored by EZLynx. The insurance industry is experiencing one of its most significant transformations in decades. Fueled by evolving customer expectations and workforce attrition, the ability to leverage agency management technology is becoming …