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While AI and ML tools garner interest, their adoption for fraud detection has only increased by around 5% since 2019.
The business shortchanged its workers' comp carrier more than $127,000 in premiums by underreporting payroll.
Home surveillance cameras caught a terrible (and terribly planned) T-bone accident in a residential neighborhood.
The groups being disciplined control around 90% of Japan's entire P&C market.
In many ways, water is the new fire when it comes to insurance fraud.
The traditional methods of assessing hail risk are no longer sufficient.
Around 15% of all auto premiums paid are used directly to cover undetected fraudulent claims, J.S. Held reports.
The committee asked whether Citizens has contemplated requesting a federal bailout in the event of being unable to cover its claims.
Insurers are in the business of risk transfer, so they should know better than most the risk involved with attorneys performing the same business function as that of a typical insurance adjuster.
Tornadoes have been reported in all 50 states. Here's what insurance professionals can expect going forward.