The mayor of Maui has asked some residents to evacuate and others to shelter in place due to flooding that threatened to cause a dam failure earlier Monday and has already damaged or destroyed at least half a dozen homes.
Commercial auto is one of the biggest, most problematic cost centers in the insurance industry. Its loss ratios are incredibly high — and growing — particularly in comparison with other P&C lines.
In a recent statement from the company, GEICO shared data showing that its collision claim frequency fell by ‘twenty-three to twenty-four percent’ and property damage dropped by even more.
Since lockdowns have lifted across the country and capacity restrictions have begun to loosen, shops, restaurants and other businesses have been eager to get patrons through the doors, hoping to make up for months of lost revenue.
Millions of Americans live near Superfund sites, areas the federal government considers contaminated as a result of hazardous waste that was dumped, mismanaged or otherwise left out in the open.
The US averages over 1,150 tornadoes every year. That’s more than any other country. In fact, it’s more than Canada, Australia and all European countries combined.
An insurer’s duty to afford coverage to an insured may depend, in large part, upon the nature of the claim asserted against the insured in an underlying demand or complaint as compared to the language of the policy.
Tip 1 Look at the ‘Education Objectives ‘. You find them at the start of each assignment and they are your secret weapon. When they make the questions, you can be sure that almost all of them fit neatly in this list. Right out of the gate you know what they intend to ask on the test.
When I first started studying for the CPCU Designation, I really didn’t think that obtaining my CPCU would do anything except provide a free trip to Hawaii, potentially advance my career, and let me learn more about the insurance industry.
The first estimates of losses for the Texas deep freeze event, which resulted in burst pipes, widespread blackouts, and water shortages, have arrived – and they’re not pretty.
A federal judge in Chicago has ruled that pandemic-related business closings and capacity limits can qualify as a ‘direct physical loss’ to property that is covered by "business interruption" policies.
For millennia, humans have struggled to survive and thrive on a sometimes deadly planet. Earthquakes, plagues, crop failures, floods, fires all periodically wipe out enormous numbers of lives.
U.S. District Judge Andrew S. Hanen of the Southern District of Texas denied Megasand Enterprise Inc.’s motion to dismiss a lawsuit brought by its insurer Everest National Insurance Company. In its lawsuit, Everest seeks a decision relieving it from having to defend Megasand from claims that its discharges worsened flooding following Hurricane Harvey.
Pandemic lockdowns and stay-at-home orders kept many drivers off US roads and highways last year. But those who did venture out found open lanes that only invited reckless driving, leading to a sharp increase in traffic-crash deaths across the country.
