The last issue of the year provides a great opportunity to look back at some of the highlights (and lowlights) of the year. Among the major lowlights were the hacks at the Office of Personnel Management and
Anthem Insurance; the flooding that decimated much of North and South
Carolina; and the induction of the newest recipients to the Coalition Against
Insurance Fraud’s Hall of Shame.
We introduce the 11 stellar inductees in this issue, and their audacity and
stupidity will leave you speechless.
This year was filled with legal rulings that will affect all sectors of the
insurance industry. We highlight the top five legal decisions that will have
major ramifications for insurers going forward because they will affect
defense costs, assignment of rights and housing practices.
We also take a look at product liability claims, particularly as they relate
to autonomous cars. With Google, Volvo, Toyota and other manufacturers
expected to introduce self-driving cars in the next few years, there are some
factors insurers need to prepare for now because these cars and other auto
industry innovations have the ability to drastically change the landscape
of auto insurance. Liability will shift and insurers need to determine how to
manage these new risks.
Claims adjusters might want to check out our annual salary survey feature.
We asked professionals in the industry to answer a number of questions
concerning benefits, hours worked each week, challenges they see and the
all-important question: What do you make? See what your peers think of the
future of the industry.
Cyber risk will continue to plague businesses and the industry for the
immediate future. The good news is that more and more businesses are using
insurance to manage the risk – providing insurers with a new growth opportunity,
especially for small and medium-sized businesses since they are a prime target
for hackers. There are specific steps that companies can take to minimize the
aftermath of a hack. With more than 34,529 known incidents occurring each
day (according to Travelers Insurance), being hacked is a certainty. Our feature
highlights the factors that comprise a company’s best defense.
Please make sure to take time this holiday season to relish the small
pleasures, share generously with others and focus on things that really matter.
I wish all of you a happy and healthy 2016. See you next year!
Patricia L. Harman, Editor-in-Chief