In response to the State of Emergency declared by Governor Phil Scott on July 9, the Vermont Department of Financial Regulation has announced a measure to allow property and casualty insurance carriers to utilize individual adjusters who are not licensed in Vermont.
COVID-19 restrictions led adjusters to shift claims work to desktop teams. The change was driven by client reluctance to meet in-person and employees’ desire to reduce site work until the risks were better understood.
We know that Americans love lawsuits. And it turns out that the national passion for litigation extends to climate-related cases. U.S. litigants are responsible for nearly 70 percent of the climate-related suits filed globally since 1986...
Most property insurance policies contain ‘Concealment or Fraud’ provisions. As the name suggests, these provisions penalize claimants for material misrepresentations or concealment by releasing insurers from payment obligations, regardless of whether relevant claims would otherwise be covered.
It was the dead cows on Wilbur Tennant’s farm that shaped most of Rob Bilott’s professional life. Tennant’s farm was located in Parkersburg, W. Va.; Bilott was -- and remains -- an environmental lawyer at the firm of Taft Stettinius & Hollister in Cincinnati. All had been well for Tennant until 1998, when half of his herd of 300 cows began to languish and die.
And while achieving an absolute zero claims status is impossible, moving to a reality where insurers, risk managers and policyholders work together to reduce the probability of loss is the goal of many predict-and-prevent risk management programs.
Increased attorney involvement in commercial claims is a direct cause of substantial loss ratios, with costs continuing to rise. These growing costs result from high legal involvement rates, social inflation, third-party litigation funding and bad-faith lawsuits filed by attorneys.
After an extensive four-year investigation, the owner of a Pennsylvania auto body repair business has been sentenced for filing nearly 300 false insurance claims which resulted in over $400,000 in fraudulent payouts.