DBRS Morningstar released a commentary titled ‘Imprecise Policy Wording Could Lead to Costly Insurance Claims Litigation and Regulatory Intervention,’ which discusses the importance of having clear, unambiguous insurance policy wording to protect both policyholders and insurers.
Ninety-three percent of drivers think reading on a cell phone while driving is ‘very or extremely’ dangerous. Thirty-six percent of those same drivers admitted to doing it anyway in the last 30 days.
‘What? No way! Wrong.’ After seven years, we’ve heard it all. No matter where a state ranks on our annual list of best and worst drivers, everyone thinks their state has the worst drivers in America.
A bright spot for small business insurers: Customer trust is on the rise. Fifty percent of small business owners trust their carriers more than they did pre-pandemic. That number jumps to 80% when the business owner has filed a claim
On July 26, Brandon Jones’s St. Louis home was hit by major flooding for the second time since 2008, when he moved in. Cars were barely visible under several feet of turgid storm water, as record rainfall fell on the city.
The insurance industry is forecast to move to an underwriting loss in 2022 after four years of slim underwriting profits as personal lines loss trends, particularly in auto and homeowners, weigh upon comparatively better commercial market performance, according to a panel speaking Thursday in New York at the Insurance Information Institute’s Joint Industry Forum.
Georgia topped the list of the American Tort Reform Foundation’s annual ‘Judicial Hellholes’ report. The Peach State edged out the Supreme Court of Pennsylvania, the Philadelphia Court of Common Pleas and the states of California and New York to top the list.
Thirty vehicles collided early Wednesday morning on Interstate 90, forcing an eight-hour closure of the eastbound lanes of the freeway east of Ellensburg.
There’s no sugarcoating it: Insurance fraud hurts everyone. ‘As fraud is perpetrated, it increases claim costs, which increases overall risk, which increases premiums, which increases the cost of goods and services performed by the companies paying the premiums,’ said Jon Shifflett, AVP, investigative services, CIS, at AmTrust.
Lawmakers in South Carolina have filed three bills in the last week that would make post-traumatic stress disorder a compensable illness for first responders.
Arbol, an insurtech platform underwriting climate and weather insurance, has delivered a $10-million parametric insurance payout to property and casualty (P&C) company Centauri Insurance, only weeks after the hurricane struck in late September.
An 18-year-old man is charged after the vehicle he was test driving veered off the road and slammed into an Elmhurst home on Monday, according to police.
During a press conference Monday, New Jersey Senate majority leader Terea Ruiz told a joke about her parents to underscore why she thinks car insurance companies shouldn’t be allowed to determine someone’s premium rate based on their education level.
While claim frequency in workers compensation has been flat for a decade, claim severity is increasing, and no industry is seeing it more than construction, according to a panel of experts.
EVs bring to light some potentially interesting implications on auto insurance. They could represent a prime use case for a new type of embedded usage-based insurance policy.
