You see it unfold in slow motion. Your brother-in-law trips on your $45,000 Persian rug and puts his hand through your $220,000 Andy Warhol. Your rug now has an 8” tear, and your Warhol has been sliced and diced.

Chasing perfect claims results can seem like chasing the wind, especially when it comes to making denial decisions. As Isaac Newton presented in his third law of motion, every action has an equal and opposite reaction, and deciding when to deny a claim is no exception.

When initially evaluating claims, there are three general claims types encountered: the likely valid, the possibly valid, and the likely invalid. There is an art to analyzing and balancing these three types of claims and deciding which should be denied and fought. An initial analysis requires a grasp of the applicable legal standards and associated potential risks and exposure. Knowing up front how to navigate between types of claims, the applicable law, how much time to devote to a claim, when to hit a decision point, and when to deny and fight is essential to any claims-handling st

A petition from young people preparing to enter a career in insurance is calling on US insurers to end their underwriting and investments in coal and other fossil fuels. The petition was started by Schuyler Holder, a senior at the University of North Texas and a member of Gamma Iota Sigma, a national insurance fraternity.

The origins of auto insurance can be traced all the way back to the ancient Chinese when investors took out insurance policies on cargo ships crossing the high seas.

Talent shortage and keeping pace with change are two of the top issues facing claims professionals over the next three to five years, but that’s just the start of their concerns.

It’s official: The Universal Claims Certification (UCC) is now available to all claims adjusters in the U.S. This game-changing certification program streamlines the adjuster licensing process that, up to this point, has been confusing and cumbersome.

Risk management and the insurance industry have been around for hundreds of years in some capacity or another. As a thriving industry, insurance offers many avenues for young professionals to explore as they grow in their careers.

From injured workers filing claims in more than one state to conflicting doctrines on subrogation, cross-jurisdictional workers’ compensation cases can be complex for injured workers and employers alike.

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.

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.

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?

New Jersey common law employs an equitable doctrine known as the “Entire Controversy Doctrine” (ECD), which can be a trap for the unwary and used as a secret weapon to destroy subrogation claims.

Public distrust in institutions is an inescapable reality in today’s news. A 2018 New York Times article discussed this topic within the context of the medical profession and noted public trust in medical providers has decreased nearly 40 percent in the last 40 years.

Stepping back to look at the whole picture when evaluating a claim and treating each case as unique is important for determining the best course of action, said legal experts in a presentation Monday at the Chicagoland Risk Forum at the Marriott Magnificent Mile in Chicago.