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Alaska Reels from Historic Storm that Caused Widespread Flooding

Alaska Reels from Historic Storm that Caused Widespread Flooding

Western Alaska was reeling Monday from the most intense storm ever recorded in the Bering Sea during the month of September brought hurricane force winds and record high storm surge flooding along the coastline.
September 19, 2022 Property Alaska

Lawsuit Alleges Carrier Engaged in Racketeering on Late-reported Hurricane Irma Claims

Lawsuit Alleges Carrier Engaged in Racketeering on Late-reported Hurricane Irma Claims

Five years ago, Hurricane Irma ravaged parts of the Tampa Bay area. Now a lawsuit alleges, in the aftermath of the storm, one insurer denied legitimate claims, leaving Florida homeowners high and dry. The lawsuit claims the property insurer, United Property & Casualty Insurance Company (United P&C), was engaged in racketeering.
September 15, 2022 Property Florida

Buildings Damaged, Cars Engulfed by Mudflows In Southern California

Buildings Damaged, Cars Engulfed by Mudflows In Southern California

Rescuers searched for a person missing in a mudslide Tuesday as big yellow tractors plowed through dark, thick sludge and pushed boulders off roads after flash floods swept dirt, rocks and trees down fire-scarred slopes, washed away cars and buried buildings in small mountain communities in Southern California.
September 15, 2022 Auto Property California

46 Buildings Destroyed by California Wildfire, More Than 11K Residents Evacuated

46 Buildings Destroyed by California Wildfire, More Than 11K Residents Evacuated

Dozens of buildings burned and a major interstate was closed as gusty winds fanned a large wildfire in California’s Sierra Nevada and ignited another blaze nearby, authorities said Tuesday. The Mosquito Fire tore through 51 buildings, destroying 46 of them, in the small community of Michigan Bluff, west of South Lake Tahoe, Placer County Sheriff’s Lt. Josh Barnhart said in a statement.
September 14, 2022 Property California

1907 Law Used to Deny all Hurricane Ida Property Claims In NYC

1907 Law Used to Deny all Hurricane Ida Property Claims In NYC

Nearly a year after the remnants of Hurricane Ida flooded the Forest Hills one-bedroom apartment where Heidi Pashko and her husband live, the couple is finally beginning to settle back into their first-floor home of over four decades.
September 13, 2022 Liability Property New York

Measuring Up: Hailstone Size and Growing Damage Claims

Measuring Up: Hailstone Size and Growing Damage Claims

Although spring storms leave quite an impression on the Arkansas imagination, the National Weather Service reports that the state typically experiences a secondary severe weather season in the fall or early winter -- two years out of every three.
September 13, 2022 Auto Property Arkansas

Security Company Partners With State Farm to Boost Homeowners’ Risk Mitigation

Security Company Partners With State Farm to Boost Homeowners’ Risk Mitigation

State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements. The partnership between the two companies allows the insurer to imagine new forms of coverage.
September 9, 2022 Property Risk Management Technology

Regulators Consider Removing Florida Citizens Insurance $700K Policy Cap

Regulators Consider Removing Florida Citizens Insurance $700K Policy Cap

As Florida homeowners continue to struggle to obtain coverage, industry regulators are now considering the removal of a $700,000 cap on Citizens Insurance policies. The insurer of last result is not legally permitted to cover more than $700K of a ‘replacement cost’.
September 7, 2022 Property Florida

Earl Could Strengthen into a Major Hurricane by Late Thursday

Earl Could Strengthen into a Major Hurricane by Late Thursday

Hurricane Earl continues to strengthen Wednesday and could become a major hurricane by week’s end, according to the National Hurricane Center, as it nears Bermuda before pushing out to sea.
September 7, 2022 Catastrophe Property

Baylor Wins COVID Business Interruption Jury Verdict Against Lloyd’s

Baylor Wins COVID Business Interruption Jury Verdict Against Lloyd’s

A jury has issued a $48.5 million verdict in favor of Baylor College of Medicine in COVID-19 business interruption coverage it filed against Lloyd’s underwriters, in the first such verdict on the issue.
September 6, 2022 Litigation Property Texas

California’s Mill Fire Destroys Over Ninety Buildings; Riverside County Blaze Kills 2

California’s Mill Fire Destroys Over Ninety Buildings; Riverside County Blaze Kills 2

Firefighters continue to battle the Mountain Fire and the deadly Mill Fire burning in Northern California, which grew minimally Monday night following explosive starts Friday in Siskiyou County. The Mill Fire has killed at least two residents, women ages 66 and 73, and has destroyed at least 91 buildings after igniting near the city of Weed on Friday afternoon and burning north into the community of Lake Shastina.
September 6, 2022 Property California

How Equipment Loss Consulting Can Produce Indemnity Savings

How Equipment Loss Consulting Can Produce Indemnity Savings

In a recent claim investigation, a large printing press motor shorted out causing sparks and overheating of paper bales, which in turn, created smoke and soot damage on the surrounding equipment and numerous areas throughout the property. In total, the damage extended to more than 300 pieces of equipment and created over $10M of potential exposure.
August 31, 2022 Property Subrogation

Judge Strikes Down State Ban on Credit-based Insurance Scores

Judge Strikes Down State Ban on Credit-based Insurance Scores

A Washington state judge has struck down a state rule banning the use of credit-based insurance scores. On Monday, Judge Indu Thomas rendered a final order declaring that Washington state Insurance Commissioner Mike Kreidler exceeded his authority when he issued a permanent rule prohibiting the use of credit-based insurance scores.
August 31, 2022 Auto Legislation & Regulation Liability Property Washington

The Soaring Cost of Insurance Fraud

The Soaring Cost of Insurance Fraud

While we all know that insurance fraud is a massive problem, we now know just how massive: more than $300 billion-a-year massive, just in the U.S. That figure comes from the Coalition Against Insurance Fraud, whose estimate would mean that fraud costs each person in the U.S. some $930 a year and the average family some $3,750.
August 30, 2022 Auto Fraud Life & Health Property Technology

Insurers Win, Lose COVID-related Business Interruption Rulings

Insurers Win, Lose COVID-related Business Interruption Rulings

The Washington Supreme Court became the fifth state supreme court to rule in insurers’ favor Thursday in COVID-related business interruption litigation when it unanimously ruled against a dental practice.
August 29, 2022 Litigation Property California Washington
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