Oklahoma City firefighters battled a large commercial fire at NW 63 and Western Tuesday night and into Wednesday. OKCFD Chief Benny Fulkerson said the structure was a large under-construction apartment complex.
Landmark American Insurance Co. v. SCD Memorial Place II, L.L. C., No. 20-20389 (5th Cir. Feb. 3, 2022), involves whether an insurance policy covered flood-related damage sustained by a building during Hurricane Harvey. The district court determined that the policy provided coverage and granted summary judgment in favor of the insured.
The phenomenon known as ‘social inflation’ accounted for $20 billion in commercial auto liability claims between 2010 and 2019, a new study by Triple-I and the Casualty Actuarial Society (CAS) finds. Social inflation isn’t a new term. Warren Buffett used it in the 1970s to describe ‘a broadening definition by society and juries of what is covered by insurance policies.’
From corporate headquarters to college campuses, the insurance industry is reaching out and collaborating to attract talent. Meanwhile, those involved in talent acquisition are contending with a remote working environment that has created new challenges to recruiting.
Every individual has a unique drive or inspiration behind why they give their time, talents and funds to an organization or cause. A member of the millennial generation recently told me, ‘If you ask me to volunteer, I’ll do it tomorrow. If you ask me to donate, it may be in an amount as small as a cup of coffee, but I’ll do it right away.’
For as long as weather and natural catastrophe risks have existed, insurers and reinsurers have been responsible for the commercial assessment of natural disasters, primarily through underwriting and reserves management.
A federal district court in California has refused to dismiss COVID-19 business interruption coverage filed by a concert promoter against Factory Mutual Insurance Co.
A bill that supporters say is meant to ensure that owners and independent shops will have access to necessary vehicle repair and maintenance tools and data was introduced in the U.S. House on Thursday.
When wildfire struck Grand County, Marjorie Cranston and her husband lost their home of 15 years. The loss was hard enough, Cranston said, without spending months scouring her brain to remember every single item lost in the flames.
Starting in March 2020, nearly every company experienced a digital transformation—whether they liked it or not. The pandemic ushered nearly all transactions and interactions online literally overnight.
That technology will be the fuel that powers the insurance industry machine is inevitable. And with exciting innovations in AI, data and cloud computing, the dreams of many insurers can become reality.
Tesla has issued a second recall in a week’s time, in this case due to a chime that would not always sound if a driver’s seat belt was unbuckled. The faulty seat belt chime impacted 817,143 vehicles, including Model S, X, 3 and Y vehicle from the 2021 and 2022 model year.
Most people now recognize the energy savings benefits of green buildings. These buildings use less water, energy and other natural resources. In some cases, they can increase biodiversity, produce their own energy and reduce the urban heat island effect.
The United States District Court for the Northern District of Ohio, applying Ohio law, has held that a D&O insurer had a duty to defend a wrongful death lawsuit against its insured because of a ‘discrepancy’ between the policy’s exclusion for employment-related wrongful acts and an exception to the policy’s bodily injury exclusion.
If you ever find yourself in a room of claims and litigation professionals and need a good icebreaker, be sure to ask the person closest to you this question: Did you find the industry, or did the industry find you?
