[ad_1] Singapore Airlines has sent compensation offers to passengers on a flight last month from London to Singapore that ran into severe turbulence, causing dozens of injuries and a death, the carrier said on Tuesday. Passengers with minor injuries have been offered $10,000, while those with serious injuries can discuss offers to meet specific needs, … Read more
[ad_1] Aircraft leasing firms have struck settlements with Russia totalling around $2.7 billion for over a quarter of the roughly 400 aircraft stuck in the country since Moscow’s invasion of Ukraine in 2022. In return, international lessors handed ownership of the planes to state insurance company NSK, which transferred them to Russian airlines. Lessors have … Read more
[ad_1] Howden, the London-based insurance intermediary group, announced the placement of the first carbon credits warranty and indemnity (W&I) insurance policy. The W&I policy provided insurance cover on the sale of carbon credits for the reafforestation project of degraded forest lands by Mere Plantations, a UK-based company that owns and operates a teak plantation in … Read more
[ad_1] The U.S. Supreme Court has revived a claim by the National Rifle Association (NRA) that a former New York regulator allegedly violated the organization’s First Amendment rights by coercing insurers and banks to terminate their business relationships with the NRA in order to punish or suppress the NRA’s gun rights advocacy. “Government officials cannot … Read more
[ad_1] The leading pet insurer in the U.S. said it is dropping about 100,000 policies starting this spring, citing inflation in the cost of veterinary care. Nationwide Pet, the leading provider of pet insurance for dogs, cats, birds and exotic animals, said May 29 that it needs to take underwriting actions to maintain long-term viability … Read more
[ad_1] Nationwide’s Chetan Kandhari said the company is working to build a bionic workforce. Maybe that brings to mind robots, futuristic technology and sci-fi imagery, but Kandhari said no one should fear robots replacing humans. Bionic simply means that biological components are aided by technology or electronics, and he said this balance is key in … Read more
[ad_1] A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. Gallagher & Co. The survey found that insurers in 2024 are placing an emphasis … Read more
[ad_1] The insurance industry came in sixth in a ranking of 10 major industries based on current AI risk, and seventh based on future risk, with healthcare replacing IT as the most exposed sector in the next 10 years. The rankings appeared in a new white paper from Swiss Re Institute titled, “Tech-tonic shifts: How … Read more
[ad_1] There was a time when investing in catastrophe bonds was the preserve of hedge funds and other sophisticated alternative asset managers. But after underpinning the best hedge fund strategy of 2023, the bonds are finding a wider audience. Catastrophe-bond funds marketed under Europe’s UCITS label, which is designed to protect retail investors, have seen … Read more
[ad_1] Having spent 15 years traveling across the country meeting principals, I’ve learned much about why some agencies are successful and others fail when it comes to acquiring and nurturing new producers. What I’ve discovered is that the most favorable results have been achieved by agencies inclined to set their new producers up for success, … Read more