Technology

Demotech, Inc.: Tech-enabled Litigation Instigation Necessitates Granularity of Loss Costs

Published

28 minutes ago

August 24, 2026

COLUMBUS, Ohio, Aug. 24, 2026 /PRNewswire/ — Tech-enabled litigation instigation, the once covert online business model unearthed by Demotech’s research project coupled with mutations in the legal profession necessitate a more granular presentation of loss costs.

Joseph L. Petrelli, ACAS, ASA, MAAA, MBA, president and co-founder, Demotech, Inc. notes “In 2022, our postmortem of failed carriers identified new, annual litigation as the proximate cause of what destroyed them. Our subsequent research project, undertaken by Todd Kozikowski, determined that the industrial scale increases in litigated claims were accomplished through technology, online marketing, and advertising, sometimes financed through third-party litigation funding. Subsequent research by Demotech identified changes within the legal profession. The changes in the legal profession include alternative business structures, managed services organizations, and other mutations that may circumvent the disclosure of third-party litigation funding. In this environment, regulators, legislators, and stakeholders need additional granularity in the presentation of loss costs. We need to focus on the components, not the composite.”

As to the need for additional granularity, Petrelli notes “Until the mid-1980s, advisory organizations published rates and premiums for insurers to utilize, either as is or with a deviation. In the mid-1980s, this changed to advisory loss costs, i.e., the average loss per policyholder without a corporate expense and pre-tax profit provision included.”

“Although advisory loss costs are trended for inflation to reflect anticipated claim costs as well as anticipated changes in claim frequency. Since the mid-1980s, the formula underlying loss cost has been (Claim Frequency) times (Claim Cost) equals Loss Cost. Essentially, a loss cost is (percentage of policyholders with a claim) times (the average cost of a claim),” says Sharon Romano Petrelli, CPCU, AIAF, CCP, ARC, vice president, and co-founder.

Joe Petrelli believes that this format was reasonable when claims were not unduly influenced by billboards, TV, radio ads, third-party litigation funding, online tech-enabled litigation instigation, alternative business structures, or managed services organizations. He says, “an implicit assumption underlying the original loss cost format was that an equilibrium existed in the relative claim frequency between claims reported and settled with policyholders, and claims litigated and negotiated with plaintiff firms. However, with claim status transitioning between claims closed without payment, closed with an indemnity payment, outstanding, or litigated; loss costs need to be viewed as the sum of these components. Composite loss costs are not sufficiently transparent.”

An example of the granularity that would assist regulators, legislators, insurers, and stakeholders would be the sum of the components:

(Claim Frequency of Claims Closed without Payment) x (Cost of Closing without Payment)
plus

(Claim Frequency of Litigated Claims) x (Claim Cost of Litigated Claims)
plus

(Claim Frequency of Non-Litigated Claims) x (Claim Cost of Non-Litigated Claims)
equals the Composite Loss Cost.

The additional granularity would not change the dollar amount of the composite loss cost; however, this granularity would identify the impact of claim transitioning by components. In fact, there are advantages to isolating annual trend in cost by component, as well.

By adding granularity, rather than blurring the impact of each component of a loss cost by ignoring its contribution, stakeholders would gain the ability to segregate and investigate the components of a loss cost.

About Demotech, Inc.

Incorporated on September 9, 1985, Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Demotech serves the insurance industry by providing objective and independent Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies, Life & Health insurance companies, and Title underwriters, among others. FSRs assist independent, regional and specialty insurers by leveling the insurer ratings playing field. Over thirty-five years ago, Demotech was the first to have its rating process reviewed and accepted by Fannie Mae, Freddie Mac, and HUD. Since that time, Demotech’s FSRs have been leveling the playing field for financially stable insurers of all sizes. Since July 11, 2022, Demotech is registered with the U.S. Securities and Exchange Commission (SEC) as a nationally recognized statistical rating organization (NRSRO) in the class of ratings for Insurance Companies. Visit www.demotech.com for additional information, sign up or view The Demotech Difference.

View original content to download multimedia:https://www.prnewswire.com/news-releases/demotech-inc-tech-enabled-litigation-instigation-necessitates-granularity-of-loss-costs-302858722.html

SOURCE Demotech, Inc.

Technology

AT&T to Participate in Upcoming Investor Conferences

Published

27 minutes ago

August 24, 2026

Company leadership to speak at September conferences held by Goldman Sachs, Citi, and Bank of America. Webcasts available live and for replay.

Key Takeaways:

AT&T to webcast fireside chat with John Stankey at the 2026 Goldman Sachs Communacopia + Technology Conference on Sept. 9.AT&T to webcast fireside chats with Pascal Desroches at Citi‘s 2026 Global TMT Conference and at the 2026 Bank of America Media, Communications and Entertainment Conference on Sept. 10.

DALLAS, Aug. 24, 2026 /CNW/ — AT&T (NYSE:T) leadership will participate in three upcoming investor relations conferences in September.

Upcoming investor conference schedule

John Stankey, Chairman and CEO, AT&T, will speak at the 2026 Goldman Sachs Communacopia + Technology Conference on Wednesday, Sept. 9, 2026. The conversation is scheduled to begin at 4:05 p.m. ET.Pascal Desroches, chief financial officer, AT&T, will speak at Citi‘s 2026 Global TMT Conference on Thursday, Sept. 10, 2026, and will be joined by Melissa Arnoldi, executive vice president & GM, AT&T Business. The conversation is scheduled to begin at 9:30 a.m. ET.Pascal Desroches will also speak at the 2026 Bank of America Media, Communications and Entertainment Conference on Thursday, Sept. 10, 2026, and will be joined by Jenifer Robertson, executive vice president & GM, AT&T Consumer. The conversation is scheduled to begin at 2:00 p.m. ET.

Full conference details will be posted on the AT&T Investor Relations website once available. You will be able to tune into the webcasts live or via replay at investors.att.com. If joining live, it is recommended that you start the webcast a few minutes early in case of conference schedule changes.

To automatically receive AT&T financial news by email, please subscribe to email alerts.

About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 150 years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/att-to-participate-in-upcoming-investor-conferences-302858683.html

SOURCE AT&T

Technology

Plumbing Expert Joe Prestia Explains Why a Heating System May Stop Working During Cold Weather in HelloNation

Published

28 minutes ago

August 24, 2026

The article outlines how boiler, furnace, and thermostat issues can disrupt hot water and heat circulation in the home.

YORKTOWN, N.Y., Aug. 24, 2026 /PRNewswire/ — Why is the heating system not working when the house feels freezing? HelloNation has published the answer in an article featuring insights from Joe Prestia of Pipe Wizard in Yorktown, New York.

The HelloNation article explains that when a heating system fails, the cause is not always obvious. While many homeowners assume the thermostat is the problem, issues with a boiler, furnace, or circulating pipes may be preventing heat from reaching the home. Identifying the source early helps restore comfort and prevent more costly repairs.

The first step highlighted in the article is checking the thermostat. Ensuring it is set to heat, adjusted to the correct temperature, and receiving power can sometimes resolve the issue quickly. Homeowners are also encouraged to confirm that the heating system has not lost power at the breaker or emergency switch.

For homes with a boiler, low water pressure or trapped air can interrupt circulation. A boiler depends on proper pressure to move hot water through radiators or baseboard piping. Air pockets in pipes may block flow, causing uneven heating or cold rooms. Monitoring pressure levels and bleeding radiators are practical maintenance steps that support reliable performance.

Furnace-related issues are also discussed in the article. Dirty filters, faulty ignition components, or malfunctioning burners can prevent warm air from circulating effectively. Clogged filters restrict airflow, strain the furnace, and reduce efficiency. Routine maintenance and filter replacement help maintain steady heat and extend system life.

The article also notes that frozen pipes and blocked vents can reduce heating efficiency. In colder climates, water inside pipes may freeze, preventing proper circulation. Furniture or debris blocking vents can restrict airflow, making rooms feel colder than they should. Checking vents and ensuring clear airflow supports overall heating system performance.

Unusual noises such as banging, clanking, or whistling may signal deeper problems. These sounds can indicate mechanical failure, trapped air, or circulation pump issues within the boiler or furnace system. Ignoring these warning signs may lead to more serious breakdowns.

Professional inspection is presented as the most reliable way to diagnose heating system concerns. Technicians evaluate boilers, furnaces, thermostats, and pipes while measuring pressure and airflow. Early diagnosis prevents minor problems from escalating into emergency situations during extreme cold.

Preventive maintenance is emphasized throughout the HelloNation article. Replacing filters regularly, monitoring boiler pressure, checking the thermostat, and scheduling annual inspections all help maintain a dependable supply of hot water and warm air. Consistent maintenance improves efficiency and reduces the risk of unexpected failure.

The article concludes that heating issues can stem from multiple causes, including thermostat settings, low boiler pressure, clogged furnace components, frozen pipes, or circulation problems. By recognizing early warning signs and scheduling timely maintenance, homeowners can keep their heating system operating safely and efficiently throughout the coldest months.

Why Is My Heat Not Working? Help, My House is Freezing! Features insights from Joe Prestia, Plumbing Expert of Yorktown, New York, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/plumbing-expert-joe-prestia-explains-why-a-heating-system-may-stop-working-during-cold-weather-in-hellonation-302858701.html

SOURCE HelloNation

Technology

Richard Preece Appointed to Jack Henry Board of Directors

Published

28 minutes ago

August 24, 2026

MONETT, Mo., Aug. 24, 2026 /PRNewswire/ — Jack Henry & Associates Inc.® (Nasdaq: JKHY) announced the appointment of Richard N. Preece to its Board of Directors, effective August 20, 2026. Preece joins the Board’s Human Capital & Compensation and Risk & Compliance committees.

Preece, 51, currently serves as Chief Executive Officer of Liminex, Inc., doing business as GoGuardian, the leader in education technology supporting more than 25 million students and 10,000 schools nationwide. Prior to joining GoGuardian in 2024, Preece was Chief Operating Officer at LegalZoom.com, Inc. from 2019 to 2024. He also held various management and leadership positions at Intuit Inc. from 2002 to 2019, including serving as U.S. General Manager for QuickBooks.

“We are very excited to welcome Rich to our Board of Directors,” said Board Chair Matt Flanigan. “Rich is an outstanding leader who brings extensive, practical experience driving business innovation and product development in financial services, along with a deep understanding of operations, risk management, and strategic priorities for technology companies.”

Jack Henry also announced that director Wes Brown will not stand for reelection at the Company’s November annual meeting in keeping with the Company’s retirement age policy. Brown, President of Bent St. Vrain & Company, LLC, a Denver-based bank consulting firm, has served on the Board since 2015 in addition to a prior term from 2005 to 2014.

“On behalf of the Board, I want to thank Wes for his tremendous service over these past many years,” Flanigan said. “Jack Henry has benefited immensely from Wes’ extensive expertise in many areas including finance, compliance, and banking, as well as his specialized insights into mergers and acquisitions. His legacy of Board service for Jack Henry will be a long and lasting one.”

About Jack Henry & Associates, Inc.®
Jack Henry® (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For 50 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower more than 7,200 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/richard-preece-appointed-to-jack-henry-board-of-directors-302858561.html

SOURCE Jack Henry & Associates, Inc.