Built into the Insurance Services Office, Inc. (ISO), commercial general liability (CGL) policy coverage part for over 35 years is an "Aircraft, Auto or Watercraft" exclusion -- currently labeled as exclusion g. in the Commercial General Liability Coverage Form (CG 00 01 04 13).
Basit Mian sued Progressive County Mutual Insurance, J.D. Power & Company, and Mitchell International Company, Inc., in a Texas Federal District Court, charging that Progressive’s use of a computer program called Work Center Total Loss (WCTL) undervalued his totaled vehicle by $2,073.24.
About eight months ago, I left my job as an associate attorney in private practice to work for a Fortune 500 insurance company as a claims professional. In my new role, I handle litigation claims against rideshare drivers. Moving from counsel to counsel’s client has given me a unique view into the particulars of each role in the claims process
The P&C insurance industry is facing several major challenges, including a $6.3 billion net operating loss during the first half of 2022. According to A.M. Best, U.S. P&C net income was $31.4 billion, down 18% compared with the first six months of 2021.
Climate change is affecting almost everyone in every region throughout the world. Whether it’s hurricanes off the Atlantic coast, flooding in Louisiana, hailstorms and tornadoes in the Midwest or wildfires in the West, climate change is forcing insurers to re-examine how they prepare for and support catastrophe claims.
The Louisiana Department of Insurance could do more to improve claims handling, though the department is complying with the law to ensure companies are handling claims in a fair and timely manner, according to a Louisiana Legislative Auditor’s report.
Insurers are bracing for a hit of up to $57 billion as they try to assess the damage from Hurricane Ian in Florida and South Carolina, risk modeling firm Verisk said on Monday.
Frankie Cook remembers last year’s car crash only in flashes. She was driving a friend home from high school on a winding road outside Rome, Ga. She saw standing water from a recent rain. She tried to slow down but lost control of her car on a big curve.
Insurance Commissioner David Altmaier on Wednesday issued an emergency order that will temporarily prevent property insurers from dropping customers in the aftermath of Hurricane Ian. The order will suspend cancellations or non-renewals of policies for two months.
Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility’s equipment, it was announced Thursday.
Cloud-based platforms will let auto insurers make a critical pivot away from purely reactive claims response and processing to claims minimization and avoidance.
Though the amount of insured damage caused to Atlantic Canada by Hurricane Fiona is expected to reach about $700 million, insurance companies likely won’t have to foot the bill for most the damage the storm left behind.
Hurricane Ian flooded major cities and devastated homes after it made landfall in Florida -- but the damage isn’t done. After temporarily becoming a tropical storm, Hurricane Ian accelerated to Category 1 strength on Thursday night as it barreled toward South Carolina, with landfall expected on Friday.
Ransomware hackers are experimenting with a new kind of attack that, instead of encrypting data, outright destroys it. The aim is to make it impossible for victims to retrieve their data if they don’t pay the ransom.
