Jury Rules Against "Vexatious and Unreasonable" Insurer Over Property Claim Denial
A federal jury has ruled that an insurance company should pay $468,000 to the owners of Conklin’s Dinner Theatre to cover damages at the Barn II, which was damaged and then razed after a 2015 storm.
August 15, 2018
Litigation
Property
Illinois
Eleven Americans File Lawsuits Against Aeromexico Over Plane Crash
Eleven U.S. passengers who survived an Aeromexico crash in the northern Mexican state of Durango on July 31 filed lawsuits against the airline in Chicago on Monday, according to a statement by Chicago-based attorneys Corboy & Demetrio.
August 8, 2018
Excess & Surplus Lines
Liability
Litigation
Illinois
Condo Fire Started By Child Playing With Lighter Caused Millions In Damage
An estimated $10 million in damage was caused by last week’s devastating fire that affected four connected buildings at the River Trails Condominium complex in Prospect Heights, according to an official report released Wednesday.
July 27, 2018
Excess & Surplus Lines
Illinois
Massive Blaze In Chicago Suburbs Renders 48 Condominium Units A Total Loss
Hundreds of people have been displaced by a massive condominium complex fire in northwest suburban Prospect Heights Wednesday.
July 20, 2018
Excess & Surplus Lines
Property
Illinois
Another State Bans Hand-Held Devices While Driving
Georgia has joined fifteen other states which have outlawed the use of hand-held cellphones and mobile devices while driving. A new law signed by Governor Nathan Deal makes watching movies, shooting video, and even the mere “holding” of hand-held devices while in the vehicle—even while stopped—illegal.
July 16, 2018
Legislation & Regulation
Liability
Litigation
Subrogation
California
Connecticut
Georgia
Hawaii
Illinois
Metromile Leverages AI And Sensor Data From Low-Impact Car Crashes To Tackle Insurance Fraud
In 2015, there were more than 6.3 million car accidents reported that involved property damage with insurance fraud accounting for 10 percent of property/casualty claims processed. While not every accident resulted in an insurance claim, those that did required extensive effort to be verified manually.
June 28, 2018
Auto
Technology
Arizona
California
Illinois
New Jersey
Oregon
Semi Speeding In Illinois Construction Zone Caused Pileup
A six-car pile up turned into a fatal accident on I-70 near milepost 64 Wednesday afternoon. The accident occurred at 2:20 pm., approxiately one mile east of Vandalia. Illinois State Police said a semi-truck was traveling west on I-70 where traffic stopped due to road construction.
June 22, 2018
Auto
Excess & Surplus Lines
Liability
Subrogation
Illinois
U.S. Insurers Face Roughly $2 Billion In Losses From Severe Weather Events In May
Aon has launched the latest edition of its monthly Global Catastrophe Report for the month of May, which found that the US suffered considerable disaster-related losses despite a “quieter” start to the tornado season.
June 12, 2018
Auto
Property
Colorado
District Of Columbia
Illinois
Iowa
Kansas
Several Homes Hit By Weak Tornadoes In Champaign, Illinois
Confirmed tornadoes damaged homes in the Champaign area on Sunday. The National Weather Service confirmed two weak tornadoes touched down after 2 p.m. that afternoon. They damaged roofs and siding on several homes in the area.
June 12, 2018
Property
Illinois
May Storms Cause $2.5B In Insured Damages: Report
Twelve states will each see insured damages topping $100 million as the weather system that hit the U.S. from May 11-16 caused a total of $2.5 billion in commercial and residential claims, according to a report Tuesday from Boston-based catastrophe modeler Karen Clark & Co.
June 1, 2018
Property
Colorado
Connecticut
Illinois
Indiana
Iowa
NTSB Advocates For Seat Belts On School Buses In Wake Of Fatal Wrecks
For the first time, the National Transportation Safety Board is recommending all new school buses be equipped with lap and shoulder seat belts, after the agency released findings from a special investigation report prompted by two deadly 2016 crashes.
May 24, 2018
Excess & Surplus Lines
Legislation & Regulation
Alabama
Alaska
Arizona
Arkansas
California
Insurance’s Flawed Business Model
At its core, the industry is plagued by an inherent conflict of interest. Our customers don’t have an industry expert advocating solely on their behalf; the experts have financial incentives coming from the insurance industry.
May 24, 2018
Risk Management
Alabama
Alaska
Arizona
Arkansas
California
Animal-Related Insurance Claims Top 1.7M In Four Years
The National Insurance Crime Bureau (NICB) today released a study on the number of animal-related insurance losses for the years 2014—2017. The data is gleaned from insurance claims for losses that occurred in all 50 states plus the District of Columbia.
May 23, 2018
Auto
Alabama
Alaska
Arizona
Arkansas
California
Insurers Expected To Pay $1.5B For April’s Severe Weather
A catastrophe report has found that the US re/insurance sector is on the hook for more than half of the total economic loss in April resulting from severe convective weather such as thunderstorms and tornados.
May 10, 2018
Auto
Catastrophe
Property
Alabama
Alaska
Arizona
Arkansas
California
Historic "American Beauty" Manor Burned In Massive Fire
Firefighters battled a massive blaze at a historic home in west suburban Hinsdale Wednesday afternoon. The home was built in 1899 and is considered a national treasure once known as "American Beauty."
April 12, 2018
Property
Illinois
