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Insurance Information Institute: Wildfires Are Creating Difficult Challenges For Insurers

The Insurance Information Institute (I.I.I.) has just released its whitepaper on wildfire mitigation - as at least 13 fires continue to burn across California.
"While our research has been in the works for the last year because of California’s catastrophic wildfires in 2017 and 2018, the wildfires we’ve seen in recent weeks makes these findings all too real and timely," commented I.I.I. CEO Sean Kevelighan.
November 6, 2019 Catastrophe Legislation & Regulation Property

Insurance Industry Lauds Early TRIA Extension Efforts

The insurance and allied industries, including the actuarial sector, have been encouraged by progress in the quest for an extension of the federal terrorism insurance backstop program, observers say.
November 5, 2019 Excess & Surplus Lines Legislation & Regulation

After Hurricane Michael, Florida CFO Patronis Aims To Limit Number Of Adjusters On Each Claim

Florida CFO Jimmy Patronis said he won’t be happy until 100 percent of Hurricane Michael insurance claims are paid. On Monday, Patronis spoke to Florida Chamber of Commerce Insurance Summit attendees about the struggles of Panhandle residents still recovering from Hurricane Michael.
November 5, 2019 Legislation & Regulation Property Florida

Florida CFO Jimmy Patronis Gets Third Degree On Insurance Claims

Chief Financial Officer Jimmy Patronis, who oversees insurance regulation in the state, faced tough questioning Tuesday over the thousands of unpaid claims still lingering after Hurricane Michael and other storms.
October 29, 2019 Legislation & Regulation Property Florida

In Texas, Home Sellers Must Now Disclose More About The Risk Of Flooding

When Arthur Mosely moved to East Austin in the 1980’s he didn’t worry about flooding. His property was not in a designated floodplain, and he thought of the creek that ran behind the house as an amenity. It guaranteed privacy and a green space full of Muscatine grapes and pecan trees.
October 28, 2019 Legislation & Regulation Property Texas

The Great First Responder Compensability Race

There are those in the field of Philosophy that will tell you that the "slippery slope" argument is not an acceptable one. In fact, in the arena of Formal Logic it is referred to as the "Slippery Slope Fallacy" and any reasoning that attempts to use it is declared to be invalid.
October 25, 2019 Legislation & Regulation Workers' Compensation Colorado Florida

WA Insurance Commissioner Fines Gun Owner Association

The insurance commissioner of the state of Washington has fined a gun owner’s association for violating state laws regarding the sale of prohibited insurance.
October 22, 2019 Legislation & Regulation Washington

Frustrated Homeowners Turn To Ohio DOI For Tornado Claim Disputes

Insurance companies have become an obstacle to some people rebuilding from the Memorial Day tornadoes, a Dayton Daily News investigation found.
October 21, 2019 Legislation & Regulation Property Ohio

Florida Officials Promise Legislation To Speed Up Payment Of Hurricane Insurance Claims

Florida’s insurance consumer advocate will propose legislation to ease frustrations of Panhandle residents about the slow rate of payments for Hurricane Michael claims, she said Tuesday.
October 17, 2019 Legislation & Regulation Property Florida

Game Changer: Universal Claims Certification Launch Changes The Adjuster Licensing Landscape

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.
October 17, 2019 Education & Training Legislation & Regulation

Disaster Capitalism: More Homes Being Constructed In Risk Zones Than In Safe Areas

When Hurricane Sandy’s floodwaters ravaged the first floor of Frank Cattie’s Ocean City, N.J., home, he assessed the damage, filed a flood insurance claim, and braced for the financial impact. But he was certain of one thing: He would not give up his slice of Shore heaven.
October 9, 2019 Catastrophe Legislation & Regulation Property New Jersey

Is California Ignoring The Science On Wildfire-Prone Housing?

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.
October 7, 2019 Legislation & Regulation Property California

Mercury Insurance Ends Fight With California For Record $41 Milion

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.
October 3, 2019 Legislation & Regulation Litigation California

UPS Just Won FAA Approval To Fly As Many Delivery Drones As It Wants

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.
October 2, 2019 Excess & Surplus Lines Legislation & Regulation

Drones Make Headway In Cutting Claims Costs; Challenges Remain

Drone technology can significantly reduce claims processing costs, but barriers remain to universal adoption by insurers and claims adjusters, a panel of experts said.
September 26, 2019 Legislation & Regulation Risk Management Technology
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