The New York Supreme Court has ruled that restaurants’ business losses from the coronavirus are not covered Consolidated Restaurant Operations, a company that owns and operates dozens of restaurants, has acquired a commercial property policy from Westport Insurance Company. Subject to certain exclusions, the policy covers “all risks of direct physical loss or damage to … Read more
Finally, someone is hiring the insurance companies. Illinois Secretary of State Alexi Gianolias has drafted a bill that would base car insurance rates on driving records and not socioeconomic factors that could discriminate against consumers. Under current state law, insurance companies can use data from sources like social media to charge higher insurance premiums based … Read more
Underwriters often have hundreds of pages of documents to sort through but probably not for long. Insurance carriers are using generative AI as copilots in back-office operations. Copilots can act as chatbots, virtual assistants, search engines and productivity tools. Deloitte principal Sandi Suhrada said the technology can be used across the value chain in insurance, … Read more
