It’s common knowledge that texting while driving is illegal in most places. But what about tapping the screen of your cellphone to accept a faster route suggested by Google Maps? What if your phone is mounted on the dashboard? What if you’re stopped at a red light?
After Louisiana citizens endured two consecutive prolific hurricane seasons in 2020 and 2021, state lawmakers made the adjustment of property insurance claims a top priority during this year’s Regular Legislative Session. On August 1, 2022, two new bills concerning claims adjusters went into effect: Senate Bill 198 and Senate Bill 214.
Insurance claims for businesses in North America have become more severe over the past five years due to factors like higher property and asset values, more complex supply chains, and the growing concentration of exposures in natural catastrophe-prone locations.
An insurance claim for a Malaysian satellite that ran out of fuel prematurely remains unsettled more than a year after the incident. Some underwriters are disputing Malaysian satellite operator Measat’s $45 million claim to recover losses from Measat-3, an insurance source said, while others have agreed to pay out.
The general liability market has changed beyond recognition since the start of the COVID-19 pandemic. Ever-increasing economic and social inflation, medical expenses and litigation financing have all resulted in spiraling claim losses and legal costs, which continue to outstrip rates.
Weston Property & Casualty Insurance Co., a Miami-based insurer that was on the verge of financial collapse for weeks, has been taken over by Florida’s government.<br />The firm had 10,300 Louisiana policyholders who will now be directed to the state’s industry bailout program.
As the crypto market crashes, some insurance companies are stepping up efforts to exclude coverage for crypto-related risks under a range of insurance policies. But because crypto is still new, insurers are having a hard time defining and pricing the risk.
Once again, I assembled the brain trust at Mid-America Catastrophe Services to discuss a topic of vital interest to the independent property claims adjuster. The question I posed was this: As far as intangibles or personal traits go, what do you see as absolutely essential to the successful adjuster?
If you are reading this article, chances are you are familiar with Leave of Absence and Workplace Accommodations. However, you still have some questions, right?
This year’s dearth of enacted COVID-19 legislation that would affect workers compensation is an indication that lawmakers have lost their appetite for measures to address the pandemic’s effect on worker infections, insurance experts say.
According to a new Accenture report, up to $170bn of insurance premiums could be at risk in the next five years due to poor claims experiences, with process inefficiencies in underwriting potentially costing the industry another $160bn over the same period.
One of the trends in insurance company advertising has been the increased use of mascots in advertising. This trend started in 1999 when GEICO insurance decided to break away from traditionally boring insurance ads and introduced the Gecko.
A week ago, the scenic Northern California hamlet of Klamath River was home to about 200 people and had a community center, post office and a corner grocery store. Now, after a wildfire raged through the forested region near the Oregon state line, four people are dead and the store is among the few buildings not reduced to ashes.
A Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but rejected other provisions, saying in a recent ruling that the organization has ‘decisions to make.’ One part Judge Laurie Selber Silverstein refused to approve was $250 million coming from The Church of Jesus Christ of Latter-day Saints to help settle claims alleging child sexual abuse by Scout leaders.
USAA must face a potential class action suit accusing the carrier of failing to pay the full actual cash value (ACV) of totaled vehicles, a federal judge in Mississippi has ruled.
