Climate risk figured prominently throughout Triple-I’s Joint Industry Forum last week -- from the impact of severe weather events on insurers’ loss ratios to its significance in terms of changing risk profiles and to Florida homeowners’ insurance crisis.
Last year, the Texas Supreme Court adopted a narrow exception to the state’s eight-corners rule, and allowed the consideration of extrinsic evidence to determine the duty to defend. The exception arguably raised more questions than it resolved.
Insurance industry decision makers and thought leaders gathered yesterday for the day-long Triple-I Joint Industry Forum (JIF) in New York City to discuss opportunities and challenges across the insurance landscape.
One day last month our firm received three separate, unrelated subrogation claim files involving serious personal injury, property damage, and a death resulting from tractor-trailers whose drivers had lost control after serving to avoid colliding with a deer on the highway.
Florida has earned a reputation as a litigious state with some of the busiest courthouses in the nation, and a new report shows that the dollars flowing through the Sunshine State’s legal system dwarf other states by a wide margin.
According to reinsurance firm Swiss Re, global insured natural catastrophe losses have reached $115 billion in 2022, year-to-date, with hurricane Ian the main contributor at an estimated $50 billion to $65 billion.
After checking email and reading articles or books, using social media sites is the third most popular activity on the Internet, and the second most popular on mobile devices.
Social media connects brands and businesses to their target audiences, driving greater awareness, revenue and loyalty. Among social media users, 86% follow brands and 57% are more likely to buy from those brands.
Oklahoma City police released more information on Tuesday about a deadly shooting inside a business on the northwest side of the city. Police confirmed a Midwest City man was enraged over a denied claim and shot a woman inside an insurance agency before Robert Arnest, 65, turned the gun on himself.
‘Go back to work.’ Those words from the general contractor precipitated the subcontractor employee’s injury. Still, the general contractor was not liable.
Hurricane Lisa’s landfall in Belize on November 2 triggered a parametric insurance policy that quickly provides funds to repair storm damage to the world’s second-largest barrier reef system.
The pandemic and political turmoil are causing widespread and long-term economic volatility after many years of positive trends. But covered commercial property losses continue, whether caused by fire, wind, or other causes independent of the underlying bases for the current market turmoil.
Florida is one of 50 states and experiences 9% of all homeowner’s insurance claims, not unreasonable given our weather and geography. However, Florida has 79% of all homeowner’s property insurance litigation.
