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Cyber Risk Continues to Grow
Laura Maxwell April 18, 2017 Posted in: Blog Posts, Cyber, Insurance / Insurers
Insurance companies need better tools to effectively underwrite cyber liability risk, including data-driven approaches for underwriting using publicly-available data. The CAS Cyber Risk Task Force is an excellent place from which to start finding ways to help insurance companies manage this growing risk, both as potential victims and as insurers.
Linda Brobeck

A Review of the Book, “The Undoing Project,” by Michael Lewis

(author of “Moneyball,” “The Big Short” and “The Blind Side”)

A Review of the Book, “The Undoing Project,” by Michael Lewis
Linda Brobeck April 11, 2017 Posted in: Blog Posts, Blog, General
The Undoing Project is the story of two Israeli psychologists whose surprising friendship and unusual collaboration enlightened the world on a number of topics, including how we make judgments and the resulting decision-making behavior. It was a somewhat disappointing revelation that humans systematically err in intuitive decision-making. However, as a predictive modeler, it confirms my long-held suspicion that algorithms outperform our intrinsic judgment.
The Benefits of Self-Defense Training
Kim Brown April 05, 2017 Posted in: Blog Posts, General
I recently had the opportunity to participate in hands-on beginner-level Krav Maga training, coupled with an Active Shooter Response Seminar. With the escalation in civilian attacks on unsuspecting targets that we all hear about in the daily news, this kind of training can be extremely valuable to anyone. 
Reflections on the 2017 Florida Chamber of Commerce Insurance Summit
Terry Wright March 27, 2017 Posted in: Blog Posts, General
This year’s Florida Chamber of Commerce Insurance Summit was well attended by insurance professionals from across the country, Florida legislators and numerous stakeholders. Key discussion topics included reforms in Workers’ Compensation (WC), assignment of benefits (AOB), Personal Injury Protection (PIP) and the Florida Hurricane Catastrophe Fund (FHCF). Another important subject of discussion was the need to better educate Floridians living in flood zones about the importance of purchasing coverage. Art Randolph, Principal and Consulting Actuary with Pinnacle Actuarial Resources, Inc., was a panel member and spoke to Summit attendees about the determination of actuarially sound rates.
What Does Benford’s Law Have to Do with Insurance Fraud?
Benford’s law is not some arcane legal clause reserved only for those who are well-versed in legal jargon and procedurals, though I admit that the “law” reference in the name is a bit misleading. Benford’s law is a little-known mathematical curiosity, but if you mention it to a forensic accountant, you will immediately sense excitement rather than bewilderment. Forensic experts from the financial sector often rely on this technique to chase data anomalies and financial fraud based on the distribution of digits in the numbers they examine. Naturally, this type of digital analysis can also be extended to detecting insurance fraud, or at least red-flagging cases as suspicious and aberrant. The premise is that fraudulent data do not conform to the mathematical patterns of the law, and cases that are isolated as non-conforming should at least warrant further investigation.
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