Workers Compensation Report Highlights Profitable Year in 2023
NCCI’s State of the Line report reveals a profitable year for workers compensation in 2023, with underwriting gains, premium growth, and declining claim frequency contributing to industry success.
October 21
Insurance Industry
Risk Management
Underwriting
Workers' Compensation
2024 U.S. Home Trends Report Reveals Impact of Hail and Catastrophes on Insurance Costs
The latest LexisNexis U.S. Home Trends Report shows increasing home insurance loss costs, driven by hail and catastrophic claims, while some weather-related perils saw declining severity in 2023.
October 21
Catastrophe
Insurance Industry
Property
Risk Management
Natural Catastrophe Losses in 2024 Near Average Amid Escalating Late-Season Storm Risks
Insured losses from global natural catastrophes exceeded the 10-year average, driven by frequent storms and floods, while total economic losses for 2024 remained slightly below average.
October 17
Catastrophe
Insurance Industry
Property
Risk Management
Florida
North Carolina
Tennessee
Virginia
How AI and Cloud Technology Drive Agile Claims Transformation
AI, cloud computing, and data-driven platforms offer insurers an agile way to modernize claims processes, enabling incremental improvements while enhancing customer experience and reducing costs.
October 15
Insurance Industry
Risk Management
Technology
Hurricane Milton’s Impact on Florida Buildings Matches or Exceeds Hurricane Helene’s
ICEYE’s initial data suggests that Hurricane Milton has caused damage to as many as, or more than, 150,000 buildings in Florida, a count that rivals Hurricane Helene’s impact. Early loss estimates range from $15 billion to $40 billion.
October 14
Catastrophe
Insurance Industry
Property
Technology
Florida
AI’s Role in Solving the Underwriting Talent Shortage
With the insurance industry facing a major talent gap, AI and generative AI can enhance underwriting efficiency by mimicking the expertise of top professionals, leading to better policies and profitability.
October 14
Insurance Industry
Risk Management
Technology
Underwriting
Federal Incentive Cuts in High-Risk Areas Improve Flood Resilience, Study Finds
A recent study highlights how removing federal subsidies from climate-vulnerable areas can reduce development, increase flood resilience, and generate savings, while emphasizing the challenges of balancing housing demand with disaster risk.
October 14
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
California
New York
Oklahoma
Tornado Sends Industrial Dumpster Onto Roof in Palm Beach Gardens Neighborhood
A powerful tornado, part of Hurricane Milton’s aftermath, caused significant damage in Palm Beach Gardens, Florida, including launching an industrial dumpster onto a home’s roof.
October 11
Catastrophe
Insurance Industry
Property
Risk Management
Florida
How Generative AI Is Transforming the Insurance Industry
Generative AI has the potential to revolutionize the insurance industry by streamlining operations, enhancing customer service, and improving risk management. However, insurers must address ethical, regulatory, and data challenges to fully unlock its benefits.
October 11
Fraud
Insurance Industry
Risk Management
Technology
Colorado
Catastrophe Bond Investors Dodge Severe Losses Following Hurricane Milton
After Hurricane Milton weakened before landfall, investors in catastrophe bonds are facing losses well below earlier estimates, with single-digit hits predicted instead of the feared 15%.
October 11
Catastrophe
Insurance Industry
Property
Risk Management
Florida
Texas
Florida’s Property Insurance Market Strengthens After Major Hurricanes
Despite recent hurricane challenges, Florida’s property insurance market is showing resilience, with reforms leading to rate reductions, new insurer entries, and declining reinsurance costs in 2024.
October 11
Insurance Industry
Legislation & Regulation
Property
Risk Management
Florida
New Emergency Rule Boosts Claims Transparency for Florida Insurance Consumers
Florida’s CFO Jimmy Patronis has introduced an emergency rule to improve the claims adjustment process, requiring adjusters to disclose changes to damage estimates and provide detailed explanations for any modifications, ensuring transparency for insurance policyholders.
October 11
Catastrophe
Insurance Industry
Legislation & Regulation
Property
Florida
Perrier Faces Contamination Crisis as Water Source Suffers Fecal and Pesticide Pollution
Perrier, a leading luxury water brand, faces a contamination crisis after fecal matter and banned pesticides were found in its wells. With production halted and millions of bottles destroyed, Nestlé’s management of the iconic brand is under scrutiny.
October 11
Insurance Industry
Legislation & Regulation
Property
Risk Management
Former Insurance Agent Convicted for Fraud After Stealing Nearly $200,000 in Premiums
A former insurance agent from Mission Viejo has been convicted on 90 counts of insurance fraud, theft, and elder abuse after stealing nearly $200,000 in premium payments and leaving 32 clients without coverage.
October 11
Fraud
Insurance Industry
Litigation
Property
California
Second Umpire Alleges Retaliation in Lawsuit Against MLB
A second minor league umpire claims wrongful termination in a lawsuit against Major League Baseball, alleging retaliation after he reported being sexually assaulted by a female colleague.
October 11
Insurance Industry
Legislation & Regulation
Litigation
Workers' Compensation
Arizona
New York
Recent Claims News
Fraud
Legislation & Regulation
Risk Management
Auto
Fraud
Litigation
Insurance Industry
Risk Management
Underwriting
Recent Provider Listings
Serving Dallas & Surrounding Areas
Texas
Accident Reconstruction Services
Emergency Disaster Response Services
Fire & Water Damage Restoration
Serving Florida Statewide
Florida
Accident Investigations
Insurance Fraud Investigations
Surveillance