Californians have filed a lawsuit against the state Department of Insurance for allegedly allowing unlicensed out-of-state insurance adjusters to offer their services after major wildfire events.
Smart devices have become a popular topic in the P&C insurance world. Tools like smart thermostats, smoke detectors and water sensors offer the potential to halt property damage before it starts, protecting insurance customers from injury, property loss or both. Yet these devices come with risks.
During the last 25 years, the technology revolution has impacted practically everything we do. From the 1980s to present day, change has been constant and, at times, dizzying.
The claims process life cycle begins when a policyholder submits a first notice of loss (FNOL). Critical information is provided to the insurer including policy number; date and time of theft or damage; a personal account of the incident; and more.
Severe weather moved through the area northeast of Colorado Springs and a funnel cloud that produced a tornado was spotted near Falcon on Friday afternoon.
The widespread, severe flooding in the Midwest over the last month has exposed the vulnerabilities in a levee system that is now so full of holes that many here ruefully describe it as “Swiss cheese.”
Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability, reinsurance broker Willis Re said.
A March 10, 2022, Pennsylvania Superior Court appellate decision underscores why the cost of workers’ compensation insurance for small businesses is the highest in the northeast United States.
The largest reinsurance company in the world has cautioned that most people won’t afford coverage soon. For several years, insurance companies have been warning that the impact of climate change will be an expensive one.
Anchoring occurs in third-party settlement negotiations when one side throws out a number in an effort to influence—or “anchor”—the way the opposing party values a claim. Our experience shows that anchoring directly affects the settlement value of injury claims, so it’s critically important for insurance adjusters to “own the anchor” in negotiations.
A recent Pennsylvania federal court decision reminds us all that when settling third-party cases that involve workers’ compensation subrogation interests, it is vitally important to understand all of the steps which are necessary to fully document and enforce any settlement agreement that involves a waiver or termination of any future workers’ compensation benefits.
There seems to be no shortage of hazing and abuse incidents in the news lately. Earlier this month, a Miami University student was allegedly hit “with a paddle with spikes and grooves,” forced to drink large amounts of alcohol and smoke marijuana in a hazing incident.
Attorney General Gurbir S. Grewal and the Office of the Insurance Fraud Prosecutor announced that four Mercer County men and six of their associated businesses were charged today with first-degree conspiracy and money laundering in connection with a bank scheme involving the deposit of nearly $1.4 million in phony or forged checks related to insurance claims.
