Following discussions with the Independent Insurance Agents of America (IIAA), Alexandria, Va., ChoicePoint Inc., an Alpharetta, Ga.-based provider of data services to the insurance industry, has agreed to end its practice of data-mining the insurance transactions of independent agents and brokers. The firm was creating "shopping dates" (when consumers would be most likely to shop for insurance) by using dates culled from insurance quote and underwriting transactions submitted to the company by agents and brokers. The firm then sold this information to other agents and insurance companies in lead lists. IIAA first raised its concerns about this practice with ChoicePoint last August after being alerted to the company's practice when an IIAA member purchased a prospect list from ChoicePoint that included a number of his own agency clients.
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Insurance payouts for Tuesday's collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd's of London Chief Executive Officer John Neal.
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Telematics data class action; NHTSA grants for state crash data collection and more legal news.
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With its checkered history of risk placement process modernization fading away, the London Market is now pushing towards a bright new data future.
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Property and climate risk solution provider's new product pairs property data and AI assessments of roof images.
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A series about Insurtech 2.0 as an evolution and movement, the data management foundations, and how advances will improve claims and underwriting.
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A tanker bound for Sri Lanka hit a pylon on the Francis Scott Key Bridge in Baltimore, causing it to collapse in seconds. What are the insurance implications?
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