Insurance is a data-driven industry, and underwriting is its heart. It’s an uncomfortable fact, then, that data from the only longitudinal study of North American P&C underwriters reveals that many important parts of underwriting seem to be mired in decline.
Workers’ compensation laws have been in effect in the United States for over a century providing benefits to employees injured on the job. For many years, ‘on the job’ meant injuries that occurred at an office, factory, store, or other site used exclusively for work-related purposes and over which the employer had a significant degree of control.
Insurance fraud is anything but a new concern for insurance companies and counsel. A simple online search reveals a litany of articles, investigations and reports of scams and schemes developed by would-be plaintiffs to secure damages based on accidents that were not accidental and injuries that were never sustained.
Insurance companies don’t have to reimburse Washington state for the two years drivers couldn’t use the new Highway 99 tunnel, as a result of the boring machine Bertha’s breakdown during construction, the Washington State Supreme Court has ruled.
Five years ago, Hurricane Irma ravaged parts of the Tampa Bay area. Now a lawsuit alleges, in the aftermath of the storm, one insurer denied legitimate claims, leaving Florida homeowners high and dry. The lawsuit claims the property insurer, United Property & Casualty Insurance Company (United P&C), was engaged in racketeering.
Rescuers searched for a person missing in a mudslide Tuesday as big yellow tractors plowed through dark, thick sludge and pushed boulders off roads after flash floods swept dirt, rocks and trees down fire-scarred slopes, washed away cars and buried buildings in small mountain communities in Southern California.
For the preoccupied adjuster flooded with claim assignments, there has been a mystery associated with the industry term ‘insurtech.’ And if that describes you, this combination of words revolves around technological innovations aimed at improving the efficiency of the insurance world.
Lloyd’s of London (SOLYD.UL) has set aside 1.1 billion pounds ($1.26 billion) to pay claims related to the war in Ukraine, the commercial insurance market said on Thursday, as it recorded a first-half pre-tax loss of 1.8 billion pounds. The reserves for the Ukraine claims were net of reinsurance, Lloyd’s said in a statement.
Nearly three years have passed since the COVID-19 pandemic shocked global economies. From supply chain interruptions and shortages to an overwhelming shift to remote work, the pandemic’s effects on individuals and businesses alike have been nothing short of substantial.
Dozens of buildings burned and a major interstate was closed as gusty winds fanned a large wildfire in California’s Sierra Nevada and ignited another blaze nearby, authorities said Tuesday. The Mosquito Fire tore through 51 buildings, destroying 46 of them, in the small community of Michigan Bluff, west of South Lake Tahoe, Placer County Sheriff’s Lt. Josh Barnhart said in a statement.
The CPCU Society has a goal of being an inclusive global community that welcomes and empowers all individuals, ideas and voices. One way to reach this goal includes expanding its global community through outreach and initiatives designed to retain and grow membership around the world.
Nearly a year after the remnants of Hurricane Ida flooded the Forest Hills one-bedroom apartment where Heidi Pashko and her husband live, the couple is finally beginning to settle back into their first-floor home of over four decades.
Although spring storms leave quite an impression on the Arkansas imagination, the National Weather Service reports that the state typically experiences a secondary severe weather season in the fall or early winter -- two years out of every three.
Nearly three years after the partially built Hard Rock Hotel collapsed and killed three construction workers, a mediator is trying to settle dozens of claims filed in Orleans Parish Civil District Court against the developers and construction contractors, ranging from business losses to worker injuries to death claims.
The types of workplace injuries experienced in the cannabis industry can vary according to the size of an operation, the extent to which it is vertically integrated or not, and which segment of the industry is its focus.
