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The US Department of Labor has until December to tell Congress whether to update a policy advising pension plans to choose the "safest" option when transferring obligations — unless doing otherwise would be in the interest of participants.

The chief financial officer must play a crucial role in determining the strategy and tactics to automate and standardize key processes throughout the organization.

Companies will put new artificial intelligence systems through internal and external testing before their release.

Life insurers are among Japan's biggest institutional investors, with a combined portfolio of about 380 trillion yen ($2.7 trillion), according to the association.

In other news: Embroker names new CEO and Swiss Re announced global head of property and casualty solutions.

Coterie Insurance, a small business insurance underwriter, is seeking to expand its ability to provide instant quotes and coverage with AI-powered data technology.

The move comes as incumbent truckmakers face the task of developing battery trucks that require fast-charging points with energy needs akin to small towns, and complex fuel-cell technology.

Both transactions are at an early stage and may not lead to a sale, said the people, who asked for anonymity to discuss the private information.

Digital Insurance's State of Insurance 2023 report also reveals that underwriting technology and staffing difficulties are top of mind for insurers.

Officials are assessing the damage wrought by the worst floods to hit the state since Hurricane Irene. Since then, the state has spent millions to climate-proof infrastructure.

The managing director of Arjuna Capital led a successful shareholder activist campaign in 2018 that led to dozens of large companies reporting their true gender pay gap numbers. Now she is pursuing companies who are moving too fast with advanced AI.

The carrier and the payroll services provider are working together to increase the flexibility of workers comp underwriting, based on more up-to-date data.

Roots Automation, Cowbell Insurance and Capitola are among the younger companies that have started using GPT technologies.

In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.

Two experts from Aon explain how businesses can protect themselves and their employees when catastrophe strikes.

Companies can collect and analyze customer data to provide tailored offerings and targeted promotions based on customer behavior, preferences, and risk profiles.

Data scientist Cathy O'Neil warns that insurance companies need more risk pooling.

FTC Chair Lina Khan, who testified before Congress Thursday, has raised concerns about AI before, saying enforcers "need to be vigilant early" with transformative tools like artificial intelligence.

Property and casualty players have struggled to maintain profitability as they deal with a greater frequency and severity of accidents, combined with higher costs to repair or replace damaged vehicles, as well as heightened costs linked to extreme weather events.

In May, the California Department of Insurance sent surveys to property & casualty insurers, to get information about how insurers are using tools like big data, artificial intelligence and machine learning in their decision making processes.