As artificial intelligence increasingly permeates various sectors, the insurance industry is poised to undergo a revolutionary shift in its regulatory landscape. AI's potential to overhaul traditional frameworks presents innovations that promise to refine compliance, perform real-time analyses, and
The world of insurance is on the brink of transformative change, driven by the rapid evolution of artificial intelligence and related technologies. As intelligent agents like AI chatbots, virtual assistants, and autonomous systems gain sophistication, they promise to revolutionize interactions and
In recent years, micro-captive insurance companies have come under tightened scrutiny from the IRS, igniting a fierce debate surrounding their legitimacy and tax deferral strategies. Although the 831(b) election was historically intended to support small mutual insurers in building financial
Recent legislative efforts spearheaded by Chairman Tim Scott (R-S.C.) aim to reinforce the authority of state regulators in overseeing the insurance industry, amid concerns over federal overreach. The initiative is embodied in the Business of Insurance Regulatory Reform Act, introduced in the U.S.
The intricate world of international contracts and insurance policies comes front and center as Travelers Property Casualty Company of America grapples with its potential obligations to the Wellons Group, Inc. A high-stakes $26 million lawsuit initiated by Tolko Industries in Canada has thrust this
In a significant legal development, Erie Insurance has emerged victorious in a landmark underinsured motorist (UIM) case revolving around the contentious "regular use" exclusion in Pennsylvania. This ruling, upheld by the state's Superior Court, sends a reverberating message about insurance policy
