Although the claims adjusting profession has undergone a lot of change over the last decade, last year was unlike any other, CRU Group executive vice president Skip McHardy said during a recent web conference.
Consider the multi-million-dollar settlements for stucco claims in recent memory from homebuilders such as DR Horton, Pulte Group, and KB Home. Claim value, claim frequency, and settlement demands around stucco continue to rise.
What happens when a key data source becomes less available, reducing carriers’ ability to evaluate risk? This has happened during the pandemic in workers’ compensation.<br /><br />In workers’ compensation, OSHA is one of the top data sources that underwriters use. In particular, underwriters will look at OSHA inspections and violations to measure some aspects of the risk.
From shortages of personal protective equipment to checking employees’ temperatures, to sending staff to work at home for an unspecified time frame, the COVID-19 pandemic has presented challenges for businesses that once seemed unimaginable.
When Jeff Sedlik opens up Amazon, he sees his work for sale all over the place. A successful commercial photographer, his photos are easily spotted on T-shirts, hats, bibs, mugs, calendars, cell phone cases and so forth. Few of those sellers use his work with permission.
The size of the estimated winter storm insurance and reinsurance market loss from February’s severe Arctic freeze and the issues suffered by energy organisation the Electric Reliability Council of Texas, Inc. (ERCOT) has raised speculation over the chances of subrogation becoming a possibility for carriers.
A decade after a devastating magnitude-9.0 earthquake struck Japan, the U.S. remains largely uninsured against this natural disaster, according to the Insurance Information Institute (Triple-I).
A record-breaking natural disaster, Winter Storm Uri, is slated to result in the largest amount of insurance claims in Texas history from a single event. The winter storm swept through the state causing widespread power outages, water shortages, frozen pipes that burst and flooded buildings, snow or ice damage to buildings, fires, car accidents and deaths.
According to a brief article that crossed the Cluttered Desk this morning, we as a nation are beginning to suffer ‘Zoom Fatigue.’ Apparently, all this video conferencing is wearing us down and making us yearn for nappy time.
A Kia engine fire recall has been issued for nearly 380,000 cars and SUVs even though the automaker says an "exact cause of [the] electrical short circuit condition is unknown."
Strategic risks can expose an organization to loss and even extinction when unrecognized or unmanaged. Think of the many well-known companies that have ceased to exist due to a failure to recognize the risks coming from new technology, changing customer preferences, heightened competition, new regulatory burdens or socio-economic volatility.
When insurance coverage is in question for a liability suit, parties initially focus on whether the pleadings require the insurance company to defend its insured.
