Allegations don’t get much more despicable than the scheme Manhattan federal prosecutors laid out in an indictment and accompanying press release on Wednesday.
Home insurance costs rise an average of 21% after a lawsuit, according to a new study by ValuePenguin. However, while home insurance rates increase on average after personal liability claims in every state, the amount premiums jump varies by location.
Beginning Monday, insurers can resume the process of canceling or non-renewing coverage for policyholders in southeast Louisiana after the state’s top insurance regulator opted not to extend emergency protections issued ahead of Hurricane Ida.
The past 18 months have brought on new challenges and evolving workplaces for virtually all industries. Now, in the midst of what many are calling ‘the Great Resignation’ of the workforce, the insurance industry is experiencing more of a ‘Great Reshuffle.’
An initial attempt to mediate a solution over the past two weeks encountered hardened positions between the two sides in the aftermath of the June 24 collapse of the Champlain Towers South building in Surfside, Florida, that killed 98 people.
Tesla is now selling insurance to customers in Texas, two years after first launching the offering in its now-former home state of California. But the version in Texas is different.
More than 40 million Americans have been diagnosed with Covid-19, and research suggests that between a quarter to a third of them will develop long-haul Covid, a mysterious illness characterized by persistent symptoms that include severe fatigue, cognitive impairment, and respiratory problems that may leave more than 20% of patients unable to return to work.
Nothing about the U.S. decision to pull out of Afghanistan has been easy. The impact has been felt around the globe, and the long-term ramifications are still to be determined. For the insurance industry, one of the unexpected areas affected by the withdrawal involves workers’ compensation claims.
Despite massively raising prices for homeowners over the past few decades, the 52 property insurance companies serving Florida are bleeding money, regulators and lobbyists said.
The COVID-19 pandemic has placed a greater importance on using best practices in adjusting, investigating, and defending product liability claims. Delay, travel obstacles, and lack of face-to-face interaction make early claims investigation more daunting.
Policyholders at odds with their insurers over Hurricane Ida damage claims may now be able to resolve their disputes through a mediation program created by the Louisiana Department of Insurance, a press release states.
Ransomware attacks are on the rise. Cyber criminals continue to exploit lax security measures, which have become more acute in the work-from-home environment, and hack into companies’ systems, encrypt their data, and then demand multimillion-dollar ransoms.
Two weeks ago, during an on-stage conversation in Las Vegas with Munich Re board member Lisa Pollina, Chubb CEO Evan Greenberg commented that insurtech’s promises of transformation are ‘just hype.’
