After three intense and exhausting days at InsureTech Connect last week, I’m a little conflicted. It was quite exciting. And there are many fascinating companies and ideas that are truly transforming our industry.
California’s top firefighting authorities want to use chainsaws and flames to thin out forests and mow down brush on at least half a million acres a year from Redding to San Diego.
Standard homeowner policies pay personal property claims at actual cash value (ACV), which is the replacement cost (RC) of the damaged property based on its current used condition. In other words, it is valued at what it would cost to replace the property at today’s cost minus depreciation: Replacement Cost Value (RCV) — Depreciation = Actual Cash Value (ACV)
While your normal interaction with hail may be seeing unbelievable photos of it next to baseballs for comparison, hail storms can cost billions of dollars in damages every year. The worst year on record for hail damage in the US, 2017, cost $22 billion in damages.
There are over a thousand exoskeleton units currently in use at job sites around the world, and their number is expected to increase at a significantly faster rate. In some cases, they are even becoming mandatory safety equipment.
The ink was barely dry on Florida Supreme Court’s 2018 decision in DeLisle v. Crane Co., 2018 WL 5075302 (Fla., Oct. 15, 2018). That decision declared Florida’s § 90.702 — which adopted the Daubert standard for the admission of expert testimony — unconstitutional and returned the state to the Frye standard which had been around since 1922.
AXA XL recently reported that, according to its liability insurance claims data, electric luxury cars and SUVs are 40% more likely to cause accidents compared to their combustion-engine counterparts.
A cornerstone of Halloween — little kids and their parents scampering door to door in search of candy — is a source of hair-raising risk for homeowners, according to a homeowners insurance expert weighing in recently in three risks associated with the holiday.
For Workers Compensation Medicare Set-Asides (WCMSA), there is no requirement that they be submitted to the Centers for Medicare & Medicaid Services (CMS) for approval, although it is common for settling parties to do so. What are the benefits of not submitting a WCMSA to CMS, and when does it make sense to take that course of action?
Mercury Insurance Co. is ending its two-decade battle with California regulators over extra fees charged to customers by agreeing to pay the state more than $41 million, California Insurance Commissioner Ricardo Lara said Wednesday.
A landmark settlement between MGM and victims of the 2017 Las Vegas mass shooting is expected to be announced on Thursday to resolve victims’ claims, according to a source familiar with the matter.
The digital revolution underway in the insurance industry is affecting nearly every facet of insurance, and claims handling and management is no exception.
UPS announced that it has received government approval to operate a “drone airline.” Don’t expect your next package to arrive directly on your doorstep by a drone, though: UPS says it will first use this certification to build a drone delivery network for hospital campuses around the US.
Cannabis is a topic that is relatively new to litigation, and is gaining in popularity with every passing day. A recent Senate committee hearing revealed that about 65 percent of Americans support the legalization of marijuana, and 93 percent of Americans support medical marijuana.
