Insurers have long known, and have statistically proven, that a person with prior motor insurance losses is more likely to have a claim in the near future than another person with no prior losses.
In this article series, FTI Consulting's Insurance team explores how new behavioural data is generated and early signs of how this data could be the next wave of predictive power for issues like fraud, and maybe even claims costs.
In our article last week, we showed how digital behavioural data can enhance the fraud models of insurers and lenders by boosting the ability of those models to identify inaccurate data.
In our article last week, we showed how the use of a completely new type of data, digital behavioural data, can enhance the fraud models of insurers.
This request is similar to those issued by various insurance commissioners around the United States during 2020.
In a Notice dated October 2, 2020, Insurance Commissioner Ricardo Lara of the California Department of Insurance (the "Department") requested that all residential property insurance...
Arnold & Porter
Between 2005 and 2019, the Supreme Court decided only 29 insurance cases – far fewer than in our first 15 years.
Duane Morris LLP
The Minnesota Supreme Court issued its long-anticipated ruling regarding the requirements an insured must prove in order to satisfy the state's first party bad faith statute.
SPACs continue to be the hot topic of the day. Over a course of what seems like a few months they have catapulted from being a questionable fringe financial vehicle...
Arnold & Porter
Between 2005 and 2019, the Supreme Court has decided 32 insurance cases. Twelve of those cases involved coverage issues
Following the judgment, handed down on 15 September, it has been confirmed that there will be a hearing on 2 October at which the court will hear any applications for permission to appeal.
In Insurance Circular Letter No. 15 (2020), dated September 22, 2020, New York's Department of Financial Services ("DFS" or "NYDFS") states, at a high level...
Shearman & Sterling LLP
Shearman & Sterling's Real Estate group produced a webinar on the strategies that can be employed by bank lenders to comply with the National Flood Insurance Program regulations.
On 15 September the High Court handed down its judgment in the Financial Conduct Authority's COVID-19 business interruption insurance test case.
This is the first of two posts discussing several major aspects of directors' and officers' liability ("D&O") insurance coverage.
In a Notice dated August 26, 2020, Insurance Commissioner Ricardo Lara of the California Department of Insurance (the "Department") requested that all property and casualty insurance companies...
Lewis Brisbois Bisgaard & Smith LLP
Just two days before the 15th Anniversary of Hurricane Katrina, Category 4 Hurricane Laura made landfall near Cameron, Louisiana.
Ostrow Reisin Berk & Abrams
The COVID-19 pandemic has changed the way people think about many things — including the fragility of life.
Clyde & Co
On Thursday, August 13, 2020, the National Association of Insurance Commissioners ("NAIC") held a special virtual session as part of the NAIC Summer 2020 National Meeting...
Morrison & Foerster LLP
Last week, the state attorneys general of seven states and the District of Columbia filed suit against the Federal Deposit Insurance Corporation (FDIC) challenging the FDIC's final rule reaffirming...