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The homeowner argued he took reasonable care of his lake house, despite failing to drain a plumbing fixture that burst after the furnace broke.
With more detailed data, insurers can develop new products that help farmers mitigate losses associated with climate change.
Emerging industries, rapid lifestyle changes and unpredictable weather have all contributed to hardening market conditions.
The world is evolving. If insurance product offerings evolve with it, insurers will be better positioned to seize the opportunities that lie ahead.
Risk professionals should ensure expectations are made clear to make entities' program goals a reality.
The National Hurricane Center recently forecast another above-normal Atlantic hurricane season in 2021.
"Burlington v. NYC Transit Authority" is a rare case where the party seeking AI coverage was the employer, not the employee.
Those involved in the claims process are turning to technology solutions to deliver superior cost-effective loss adjusting and claims management services.
One big reason why a recovery is hard to predict is the uncertainty coming from the special events insurance industry.
Rising consumer goods prices are leading to higher loss costs for insurance companies, as highlighted in home and auto markets.