Insurance Journal A California lawmaker is pushing to require insurers to notify homeowners in advance of taking or using aerial images of their property, and to stop insurers from basing decisions to cancel, non-renew, or reduce coverage based on aerial images older than 180 days. Assembly Bill was introduced last week by Assemblymember Lisa Calderon,… Continue reading California Bill Seeks to Add ‘Transparency’ to Aerial Images Used by Insurers
Tag: insurance
New Proposed Legislation in Florida Regarding AI Use in Claims Handling
Jennifer Gibbs | Zelle AI isn’t replacing insurance company decision makers yet, as new legislation filed in Florida is aimed at requiring mandatory human reviews of claim denials. Florida’s HB 527 (and companion bill SB 202) would apply to information provided to insurers by algorithms, artificial intelligence systems, or machine learning systems, none of which may serve as… Continue reading New Proposed Legislation in Florida Regarding AI Use in Claims Handling
Coverage Denied: Residence Premises Requirement Bars Claim Despite Premiums and Initial Payment
Kelly Phan | Marshall Dennehey Two years prior to Evelyn Pitts’ death, she placed her property in a revocable living trust, entered an assisted living facility and then rented her property to tenants. After Evelyn’s passing, her son reported water damage to the property to Universal Property & Casualty Insurance Company. Universal initially extended coverage… Continue reading Coverage Denied: Residence Premises Requirement Bars Claim Despite Premiums and Initial Payment
Policyholders Should Negotiate To Limit AI Exclusions At Renewal
Lynda A. Bennett and Alexander B. Corson | Lowenstein Sandler As renewal season approaches, policyholders should be on the lookout for broad artificial intelligence exclusions across all lines of coverage. In the last year, news of insurance companies inserting increasingly expansive AI exclusions has spread. Risks associated with AI are becoming increasingly widespread and sophisticated.… Continue reading Policyholders Should Negotiate To Limit AI Exclusions At Renewal
Commercial Lightning Losses: You Can’t Manage What You Don’t Measure
Jeff Dunsavage | The Triple-I Blog Lightning strikes costs homeowners more than $1 billion a year – but it’s unclear how much businesses lose through lightning-related damage. This is because many fires at commercial properties are recorded simply as “general fire damage”, making it hard to quantify lightning-specific losses or understand true commercial exposure. In… Continue reading Commercial Lightning Losses: You Can’t Manage What You Don’t Measure