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Wildfire fallout – insurers set to reassess risk, tighten policies in California
“Clearing dead plants, removing wooden furniture, (these are) things people might overlook outside forested areas,” said Heron. “There will be more focus on how homes are rebuilt and the materials used, especially roofing. If a roof isn’t fire-rated to a certain degree or is past a certain age, insurers may change terms, offering actual cash…

Sixth Circuit affirms dismissal of subcontractor’s insurance fraud suit over subguard claim
The dispute began with a subcontract between Continental and US Framing to provide framing services for two student housing projects—one in Knoxville, Tennessee, and the other in Ann Arbor, Michigan. Work began in 2017, but disagreements quickly emerged over delays on the Knoxville project. In December 2017, the parties amended the subcontract, agreeing to abandon…

Lemonade CEO reflects on State Farm’s 2018 ‘attack ad’
“We envision a future, not a distant one, where many of our colleagues are AIs. Imagine an actuary who can join a Zoom call anytime, 24/7, with access to all of Lemonade’s historical and real-time data,” he told the audience of insurtech and insurance leaders in London. Source link