The commercial insurance industry faces several challenges when it comes to rating policies. Traditional rating processes have been complex and challenging, with limitations that can have a significant impact on profitability. In recent years, advances in technology have begun to revolutionize the way insurers operate, with a particular focus on simplifying processes and driving efficiency. One such technology is Verisk’s
On March 31, 2021, the Marijuana Regulation and Taxation Act became effective in New York State, legalizing recreational marijuana for adults 21 years and older. The law also prohibits employers from drug testing for marijuana, except where mandated by federal law. The Act presents opportunities and challenges for businesses as they navigate employment policies regarding drug use. This article examines
The National Labor Relations Board (NLRB) recently made a significant decision in the case of McLaren Macomb, which has implications for both union and non-union employers in the United States. According to this decision, merely offering a severance agreement to employees can be a violation of the National Labor Relations Act (NLRA) if the agreement’s terms interfere with, restrain, or
The California grocery industry is bracing for potential changes in the wake of Assembly Bill (AB) 647. The bill, authored by Assemblymember Lorena Gonzalez (D-San Diego), presents several amendments for grocery stores and their employees in the event of a change in control. The proposed changes have prompted opposition from several major organizations, including the California Chamber of Commerce, the
On April 6, 2023, the New York City Department of Consumer and Worker Protection (“Department”) issued its final rules regarding automated employment decision tools (“AEDT”). The AEDT law’s enactment was initially introduced under Local Law 144 of 2021, which prohibited employers and employment agencies from using AEDT unless they met certain requirements. Overview of Local Law 144 of 2021: AEDT
Axle is a consumer permissioned insurance data company based in Atlanta, Georgia that has raised $4 million in its latest seed funding round. The company’s total funding now sits at $4.5 million. The round was led by Gradient Ventures with contributions from existing investor Y Combinator, Soma Capital, Contrary Capital, Rebel Fund, BLH Ventures, and others. Axle connects individuals’ insurance
The insurance industry has always been considered one of the most complicated and time-consuming industries, especially when it comes to processing claims. This slow and inefficient process can lead to delays, errors, and high costs for both insurers and policyholders. Additionally, insurance fraud is another major issue that plagues the industry, costing billions of dollars annually for insurance companies. The
Constellation Insurance, a leading insurance company specializing in property and casualty insurance products, has recently replaced its legacy loan management software with SS&C Technologies’ Precision LM software. This decision was made to grow its mortgage portfolio and to ensure a more efficient process for loan tracking and management. Legacy software inefficiencies The legacy software used by Constellation’s investment accounting department
Insurance is an essential aspect of financial planning that helps protect your loved ones’ future. However, with so many different types of life insurance policies available today, selecting the right one can be a daunting task. Choosing between term insurance and permanent insurance is a significant decision that requires careful consideration. In this article, we will discuss the differences between
Washington State has passed legislation to prevent discrimination against job applicants who use marijuana recreationally. The bill has been passed by both chambers of the Washington State legislature and now moves to the Senate for a concurrence vote, as the House made minor amendments. The shift in policy acknowledges the growing trend towards decriminalization of marijuana and recognizes the need
The issue of religious accommodations in the workplace has been highly contested for years. It deals with an employer’s responsibility to provide a safe and inclusive environment for all employees while accommodating any religious beliefs. Two recent cases, Plummer v. University of Houston and Groff v. DeJoy, have reignited the discussion around religious accommodations, the employer’s obligations, and the impact
DoiT International, a leading provider of cloud technology and consulting services, has partnered with Tenity, a startup incubator and accelerator with a focus on fintech and insurtech startups across Europe and Asia. The partnership aims to enable accelerated growth for Tenity’s portfolio companies by providing expert knowledge on cloud cost optimization and the implementation of built-in sophisticated Big Data and
