The Internet of Things (IoT) is transforming the insurance industry by enhancing risk assessment, improving customer engagement, and streamlining claims processing, thereby creating a more efficient and customer-centric model that benefits both insurers and policyholders. The Internet of Things (IoT) refers to the interconnected network of devices that communicate and exchange data over the internet. From smart home devices to wearable technology, the proliferation of IoT has begun to permeate various sectors, significantly impacting how businesses operate. One industry poised for transformation is insurance. As IoT devices generate vast amounts of data, insurers are leveraging this information to refine their
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Archives for Alternative Dispute Resolution
New Jersey Supreme Court Adopts ‘Ongoing Storm Rule,’ Preempting Landowner Liability for Clearing Ice or Snow From Sidewalks
Addressing whether commercial landowners owe a duty to clear snow and ice from their property during a storm, the New Jersey Supreme Court has adopted the ongoing storm rule, under which a landowner does not have a duty to remove snow or ice from public walkways until a reasonable time after the cessation of precipitation. Angel Alberto Pareja v. Princeton International Properties (2021). In January 2015, plaintiff Angel Alberto Pareja was walking to work when he slipped on ice, fell, and broke his hip. The sidewalk area on which he fell was on property owned and managed by defendant Princeton
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New York Federal Court Holds That Arbitrators Must Decide Whether Party Waived Right to Arbitrate
In Syngenta Crop Protection, LLC v. Ins. Co. of North America, the United States District Court for the Southern District of New York addressed an action against a liability insurer for coverage for asbestos claims. The policyholder first notified the insurer of the claims in 1999. The insurer responded with a reservation of rights letter explaining why the claims may not be covered. However, the insurer took no further action on the claims. In 2008, the policyholder made a formal demand for indemnification. In 2017, the insurer finally issued a denial of coverage. In its denial, the insurer asserted for
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