The idea that AI tools can help plaintiffs’ lawyers to improve finely tuned litigation strategies that ultimately drive insurance company claims payouts is not new to Carrier Management readers. Nor is the suggestion that defense firms need to try to catch up with similar ammo. But a study commissioned by the Claims and Litigation Management Alliance (CLM) and conducted by Suite 200 Solutions probes a related topic that Carrier Management reporters hadn’t thought to ask our insurance industry sources in any of our previously published articles: Who should pay to even the score? The claim and litigation executives who responded…
Author: Awais
Three times over the past decade, the US Supreme Court has cut the Securities and Exchange Commission’s ability to extract millions of dollars from alleged wrongdoers. Critics of the commission say it’s not enough. In arguments Monday they are asking the justices to put new limits on “disgorgement,” one of the SEC’s most potent enforcement tools, designed to recoup illicit profits and return them to victims. The dispute will shape a panoply of SEC cases in which victims aren’t easy to pinpoint, from low-profile record-keeping violations to major insider trading allegations. The SEC used disgorgement to secure orders for more…
The former chief executive and chief financial officer of iLearningEngines, which provided AI-driven business automation technology, were indicted on charges they defrauded investors and lenders by fabricating “virtually all” of the now-bankrupt company’s customer relationships and revenue. Former CEO Puthugramam Chidambaran, who founded iLearningEngines in 2010, and ex-CFO Sayyed Farhan Ali Naqvi were charged in a 10-count indictment with running a continuing financial crimes enterprise, securities fraud, wire fraud, and conspiracy to commit securities fraud and wire fraud. The indictment was made public on April 17 in the Brooklyn, New York, federal court. Chidambaran, 57, was arrested in Potomac, Maryland,…
An oil spill in the Gulf of Mexico that soiled beaches, killed wildlife and sparked outrage from environmental groups was caused by a leaky pipeline owned by state oil company Petroleos Mexicanos, the company said. A government investigation determined that an undersea pipeline near the Abkatun offshore platform was the cause of the leak, Pemex Chief Executive Officer Victor Rodriguez said at a press briefing on Thursday evening. Three employees were fired as a result of the accident, he added. The amount of crude that spilled into the Gulf is still being determined, Mexico’s Science Minister Rosaura Ruiz said at…
The alleged scheme targeted no-fault coverage through orchestrated late-night collisions
President and CEO John Doyle said the results reflected strong execution in a challenging environment. “We had a solid start to the year,” Doyle said. “Our results reflect Marsh’s market leadership, our clients’ trust in our team’s expertise, and the strength of our data and insights.”
According to a report from Fitch Ratings, implementation of the NAIC’s CLO modeling project has been pushed back again to Dec. 31, 2026, to allow further refinement of the methodology and better alignment with broader work on asset-backed securities and the RBC framework. A revised approach from the American Academy of Actuaries introduces tranche‑thickness as a key driver, splitting factors at Baa3/equivalent for tranches of 4% thickness or less versus thicker slices, in response to differences in rating agency methodology.
The initiative comes against the backdrop of the conflict involving Iran, which has seen missile and drone attacks on shipping, mine-laying and increased tension around the Strait of Hormuz. The waterway, a key chokepoint for global energy and commodities, has seen commercial traffic disrupted as hostilities and sanctions have intensified, prompting vessel diversions and longer alternative routes.
“Risk management, contract review, claims advocacy, guidance for clients operating in a heavy regulatory environment – these are things we already provide,” Dennis said. “The difference is having deeper resources available on demand, whenever a client needs them. With Higginbotham behind us, those services can be part of our core model.”
Inter-Insurance Agency Services Ltd., a property and casualty agency with offices in Manhattan and Jericho, New York, filed suit against Citibank, N.A. on April 15, 2026, in the US District Court for the Southern District of New York. The agency, founded in 1992, alleges the bank failed to stop – and later failed to make good on – five unauthorized ACH withdrawals totaling $1,540,000.
India has approved a maritime insurance pool of 129.8 billion Indian rupees ($1.40 billion), Ashwini Vaishnav, minister for Information and Broadcasting, said on Saturday. The pool is for 10 years can be extended to five more years, Vaishnav said in a briefing. The fund comes at a time when the Iran war has increased the risks to shipping and hiked up insurance costs for businesses. ($1 = 92.5980 Indian rupees) (Reporting by Ashwin Manikandan, Editing by Louise Heavens) Related:
700 Edgewater Development, LLC, the company behind Missoni Baia – a 249-unit luxury residential condominium in Miami – filed suit on April 15, 2026, in the US District Court for the Southern District of Florida against four of the industry’s most recognized names. The case centers on what the developer says is an unpaid balance under Builder’s Risk policies issued by Zurich American Insurance Company, Allianz Global Risks US Insurance Company, ACE American Insurance Company, and National Fire & Marine Insurance Company.
Thank you for your interest in supporting KFF Health News, the nation’s leading nonprofit newsroom focused on health and health policy. We distribute our journalism for free and without advertising through media partners of all sizes and in communities large and small. We appreciate all forms of engagement from our readers and listeners, and welcome your support. KHN is an editorially independent program of KFF (Kaiser Family Foundation). You can support KHN by making a contribution to KFF, a non-profit charitable organization that is not associated with Kaiser Permanente. Click the button below to go to KFF’s donation page which…
While loss multiples across recent cyber catastrophe bonds have trended lower, rating agency AM Best suggests that while the novelty premium ascribed to earlier issuances is reducing, it stresses that such a premium has not gone away entirely.Furthermore, despite abundant capacity in the primary and reinsurance markets, the agency anticipates that cyber ILS issuance will remain modest until the underlying cyber insurance market achieves further scale. The rating agency recently published a new report on catastrophe bonds and insurance-linked securities (ILS), which also examined the recent movement that’s been seen across the expanding cyber ILS market. AM Best highlighted how capacity…