Litigation funding provides companies and individuals with an important strategic tool. But a few leaders in the insurance industry warn us to “watch out” for litigation funding. They claim it could “significantly raise insurers’ costs.” Good news: They’re wrong.
An early morning crash on Highway 99 in Butte County left at least three people dead and two recovering from injuries, according to the California Highway Patrol.
A 5.3 magnitude earthquake struck a remote area of west-central Nevada early Friday, but was felt widely from Las Vegas to Sacramento, according to the U.S. Geological Survey.
Tropical Storm Eta, which was once a devastating hurricane, is dumping heavy rain on the Carolinas and Virginia. Homes and roads are flooded and bridges have buckled, at least four people are dead and while dozens have been rescued, several remained unaccounted for.
The cost of workers’ compensation in the United States is steadily dropping, even as the coverage it provides appears to be rising. The Workers’ Compensation Benefits, Costs, and Coverage report examined data from 2018, comparing it with updated data for 2014 through 2017.
Since COVID-19 made its way into the U.S., insurers have been hyper-focused on customer retention. But priorities have shifted since the beginning of the year.
Hurricanes are keeping their staying power longer once they make landfall, spreading more inland destruction, according to a new study. Warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as a reserve fuel tank for moisture, the study found.
Residents of Florida’s central Gulf Coast woke up Thursday to inundated streets and flooded homes after a night of pounding rain and wind from Tropical Storm Eta.
In Chavez v. Std. Ins. Co., 2020 U.S. Dist. LEXIS 203610 (N.D. Tex. Oct. 30, 2020), Judge David C. Godbey considered a variation on a common scenario that arises in first party cases. Typically, the insured/plaintiff wants an insurer’s claims handling manual to use against the insurer in proving claims under Texas Insurance Code Chapter 541 and the DTPA.
Richie Whitt, Co-CEO of Markel, has warned that the re/insurance industry’s response to the dispute around COVID-19 business interruption (BI) claims may have a long-term negative impact on its reputation.
Insurance carriers today are focusing on reducing claim cycle times and increasing claim closing ratios while maintaining a high degree of accuracy. Therefore, our industry is now in an age where companies are utilizing automation and internal intelligence to accelerate the claims adjudication process.
Portions of Florida’s Gulf Coast are beginning to feel effects from Hurricane Eta’s outer bands as the Category 1 storm makes its approach toward Florida’s west coast, with winds at 75 mph and the potential for “life-threatening storm surge," forecasters said.
