The tornado that ripped through Gaylord last week is expected to cost millions to repair -- and, insurance companies warn, some survivors will be lucky to be able to make them in the next few months.
The percentage of consumers opting in to telematics-driven auto insurance has risen by a third over the past four months, as drivers look for ways to avoid rate increases and the effects of inflation, according to a TransUnion survey released today.
A series of powerful thunderstorms that affected Ontario and parts of Quebec this weekend is already being billed by the industry as the first major Cat of 2022. And while industry experts anticipate a large number of insured damages, one predicts the storm may result in a lot of ‘hidden damage.’
The Florida Senate on Tuesday approved a sweeping legislative package meant to combat rising property insurance rates and other problems in the state’s turbulent insurance market, creating a $2 billion reinsurance fund and writing new rules around coverage denials and attorney fees.
Hyundai is recalling 239,000 cars in the United States because the seat belt pretensioners can explode and injure the people inside of the cars, according to authorities.
It seems like once a week during May and June we open our mailbox and find invitations. Some are wedding invitations, but most are invitations from parents and students sharing the wonderful news of graduations
The US weather service NOAA has just announced its forecast for the 2022 Atlantic hurricane season, and they are another organisation saying it is likely to see above-normal levels of tropical storm activity, with a 65% chance of an above-normal season in 2022.
Anyone at all versed in behavioral economics already has some understanding of the intention-action gap, in which one’s words don’t always match deeds. For many consumers, a similar cycle develops around sustainability. They want to live more sustainable lives, but time, money or some other factor prevents them from seeing that intention through.
Claims reviews and TPA audits can ensure that third-party administrators (TPAs) utilize efficient and accurate practices to prevent long-term costs from developing when processing high-dollar benefits claims. They can resolve a stagnating claim that is holding up closure and increasing exposure by pinpointing more alarming issues, such as under- or over-reserving, injury patterns and improper staffing.
It was a wet weekend for many people living in St. Louis Park. A water main break flooded dozens of homes on and around Minnetonka Boulevard. A bad way to wake up.
When property & casualty insurers peer into the future of claims operations, most envision digital technologies playing a dominant role. Although digital transformation is occurring and necessary in claims departments, there will always be a need for the human touch, especially on more complex losses.
While COP26 in Glasgow may not have resulted in the level of government commitments that had been widely advocated before the latest UN climate summit, one thing it most definitely did was shine a light on the expectations for the financial services industry in moving to net zero.
Thousands of Minnesotans spent Friday talking with insurance agents. Thursday’s hailstorm caused major damage to homes, cars, and boats. But getting the repairs done at the auto shop may take longer than people would hope. The hail only lasted a few minutes but left lasting damage.
