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Hybrid work, AI, and litigation drive EPL insurance shifts: QBE
[ad_1] QBE’s findings come against a backdrop of persistent employment litigation in the US. According to federal data, thousands of discrimination and retaliation charges are filed annually with the Equal Employment Opportunity Commission, and class-action settlements involving workplace practices regularly result in multimillion-dollar payouts. Industry analysts note that even as reforms in some states aim…
Colorado proposes $100 million loan to protect health coverage as ACA subsidies expire
[ad_1] According to a Best Wire report, the money would support the state’s reinsurance program, direct payments to carriers to offset the loss of federal tax credits, and other programs under the Colorado health insurance affordability enterprise. The enterprise, created in 2020, is funded by federal dollars and insurer fees. It runs the reinsurance program,…
Anticipating rising liability rates in investment property insurance
[ad_1] Urban properties in higher-crime areas present more potential for tenant or guest injuries and incidents. Older multi-family buildings with outdated infrastructure can lead to slip-and-fall accidents, fire hazards, or structural failures. Short-term rentals often have high guest turnover, less oversight, and an increased likelihood of property misuse or injury. Properties…
Connecticut Senate passes bill on expanding state insurance commissioner’s authority
[ad_1] Jim Carson, legislative director for the department, said a separate proposal backed by Governor Phil Scott offers a more consistent approach. Under that bill, the department would maintain its existing review process but include an additional step allowing the commissioner to assess whether a rate is affordable. If a proposed rate exceeded the benchmark…
Possible lawsuit pressures Tesla to remove collision alerts from safety score program
[ad_1] Advancements in vehicle technology, including the integration of Advanced Driver Assistance Systems (ADAS), have influenced collision claim frequencies and severities. While ADAS features aim to reduce accidents, the complexity and cost of repairing these systems can lead to higher claim costs when collisions occur. [ad_2] Source link
APCIA eyes legal reform to cut insurance costs
[ad_1] Testifying before the Senate Committee on Banking, Housing, and Urban Affairs, Robert Gordon, senior vice president of policy, research, and international at the American Property Casualty Insurance Association (APCIA), outlined how legal system abuse and excessive litigation have added financial pressure to the insurance sector. [ad_2] Source link