Insurance Journal

A New York man has been arrested on charges of conspiracy, arson and insurance fraud for allegedly hiring a man to set fire to his Yonkers home and then attempting to collect more than $1.3 million from his home insurance policy. https://lnkd.in/gRHCk9Dg

With a “silver tsunami” of skilled underwriters eligible to retire in coming years and a shift in employee expectations, recruitment and retention is a critical focus for the insurance industry right now, said experts during a November webinar hosted by Reuters Events. https://lnkd.in/gFR2aQim

Woody Allen’s former personal chef claims in a lawsuit that the filmmaker and his wife fired him because of his service in the U.S. Army Reserves and questions about his pay, then “rubbed salt on the wounds” by saying they didn’t like his cooking. https://lnkd.in/gPJ2Q72v

Liberty Mutual Holding Co. is considering a sale of its businesses in Thailand and Vietnam as the US insurer seeks to streamline its operations, according to people familiar with the matter. Liberty Mutual is working with a financial adviser on the potential disposal, which could help it raise a few hundred million dollars, the people said, asking not to be identified because the deliberations are private. Other global and regional insurers have expressed preliminary interest in the assets, the people said. https://lnkd.in/g3n_9i3S

Almost three dozen high-rise condos and luxury hotels along the beach in South Florida are sinking or settling in unexpected ways, in some cases because of nearby construction, according to a new study. https://lnkd.in/gr5rjhUQ

When analysts at AM Best reviewed outlooks for the property/casualty insurance and reinsurance sectors this week, recent good news of a change in outlook for personal lines—and for the personal auto insurance—were the first highlights. But a cloud remains over one piece of the personal lines pie. The outlook for homeowners insurance remains negative, said Richard Attanasio, senior director–Personal Property/Casualty, during a webinar briefing on the main segments of the insurance industry. https://lnkd.in/gkyVUwxk

🤖 https://lnkd.in/gpnQTPq2 🤖 Between the Lines explores how generative AI is transforming the insurance industry, highlighting expert insights on combating AI-driven fraud and staying ahead in an ever-evolving landscape. Carrier Management Deputy Editor Elizabeth Blosfield talks with Verisk's Shane Riedman about what they are seeing in this space. Main Points include: - AI's Dual Role in Insurance: Generative AI can enhance claims detection while also enabling sophisticated fraud, including deepfakes and manipulated documents. - Expert Strategies for Fraud Prevention: Shane Reidman of Verisk emphasizes the importance of advanced anti-fraud technology, ongoing training, and recognizing traditional red flags to combat AI-enabled threats. - Industry Insights Beyond AI: Carrier Management's Q4 issue also covers auto insurance changes, risks to watch, and the latest trends in Insurtech funding. 🤖 https://lnkd.in/gpnQTPq2 🤖 #InsuranceFraud #GenerativeAI #Insurtech #FraudPrevention #CarrierManagement

It appears another insurance carrier is turning sour on wildfire-prone California. https://lnkd.in/ggSyPTRR

In his movies, Sylvester Stallone has taken on drug cartels, Soviet troops and boxer Apollo Creed. But in real life, he had to beat a retreat against the Palm Beach Town Council. https://lnkd.in/gfM8ipA4

The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry clapped back by saying extreme weather is just part of the problem.