Articles
‘Dawn of a new era’: Insurance chatbot industry to hit $4.5B by 2032
The global insurance chatbot market has experienced such enormous growth since the advent of the COVID-19 pandemic that it’s expected to hit nearly $4.5 billion by 2032, according to a report by Allied Market Research. While this kind of technology was already in the works before, the pandemic accelerated its development and adoption in sectors […]
Seeking answers for insurance crisis left in Milton, Helene’s wake
As the cleanup continues from hurricanes Milton and Helene – one of the most devastating series of hurricanes to ever hit the U.S. East Coast – and predictions of more frequent and stronger storms continue, insurers, academics, and environmentalists are hoping states and municipalities finally get serious about the insurance crisis left in their wake. […]
Hawaii’s high court sides with AIG in climate change lawsuit
Hawaii’s highest court sided with American International Group in classifying greenhouse gases as pollution, thereby triggering an insurance exclusion. The decision is one of the first rulings in a climate change lawsuit, a legal strategy that has taken off, the New York Times reported last month. Aloha Petroleum filed the lawsuit against its insurance providers […]
Regulators agree on single LTC rate review, punt cost-sharing details
A state regulator working group agreed Thursday on a single long-term care rate review process based on the Minnesota method. It includes a cost-sharing component to spread the burden of LTC rate hikes. The vote by the Long-Term Care Actuarial Working Group comes after months of vigorous discussions about how to better harmonize LTC rate […]