Three speakers shared each of their unique perspectives about the impact of rising total loss claims at the Jan. 20 meeting of the Collision Industry Conference (CIC) and explored what that means for the collision repair and salvage industries as well as, most importantly, consumer safety.
A California law passed in the late 1980s originally meant to protect consumers is under increased scrutiny for restraining the use of telematics in auto insurance underwriting.
The insurance industry faced a wake-up call when the pandemic exposed just how unprepared insurers’ digital capabilities were in a crisis. But, in the past two years, particularly in 2021, the industry has accelerated its digital development, making significant leaps forward in technology investments, workforce evolution and strategic planning.
A California city voted Tuesday night to require gun owners to carry liability insurance in what’s believed to be the first measure of its kind in the United States.<br /><br /><br /><br />The Silicon Valley city of about 1 million followed a trend of other Democratic-led cities that have sought to rein in violence through stricter rules. But while similar laws have been proposed, San Jose is the first city to pass one, according to Brady United, a national nonprofit that advocates against gun violence.<br /><br />Council members, including several who had lost friends to gun violence, said it was a step toward dealing with gun violence that Councilman Sergio Jimenez called ‘a scourge on our society."
Insurance carriers have witnessed a dramatic increase in consumers’ acceptance of digital activity compared to the pre-pandemic levels of early 2020. We expect these accelerated levels are only going to increase.
About 40 vehicles were damaged Sunday when a snow plow tossed slush onto the opposite side of the Ohio Turnpike near Sandusky, the State Highway Patrol said.
Large loss insurance claims implicate excess and umbrella insurance policy limits, usually starting at one million dollars and above. These claims typically involve multiple parties, complex legal issues, tens of thousands of discovery documents and a multi-year litigation trajectory.
The health care supply chain is experiencing a multitude of disruptions, delays, wage pressures and shortages, some of which have an impact on workers’ compensation medical care.
Insurance in the U.S. goes back to the mid-1700s and Benjamin Franklin. It has become one of the most essential parts of our lives and one of our most important economic industries.
A new report from Juniper Research has found that blockchain-based insurance will transform claims administration; saving $10 billion in costs globally by 2024, up from $1.1 billion in 2021.
Recently, the Northern District of Texas found a commercial general liability policy did not provide coverage for the death of a utility contractor who suffocated after he was buried in a pit of gravel by another worker.
