360 Scanning Expedites Claims
While many claims professionals are familiar with the concept of 360-degree scan and/or photographing technologies, I meet many who do not know how to utilize these resources.
January 7, 2022
Property
Technology
Thousands Filing Complaints Over Insurer Responses To Ida Claims
It’s been four-and-a-half months since Hurricane Ida hit, and there are still families waiting on insurance payments to fix their homes. And now, more and more victims are turning to the state insurance department for help, or asking an attorney to speed up the process.
January 6, 2022
Property
Louisiana
More Than 100 Insurers Pursue Subrogation Over Winter Storm Uri Losses
More than 100 insurance companies are suing the Texas power grid operator and dozens of power generators, over losses and property damage sustained during the winter storm last February.
January 5, 2022
Property
Subrogation
Texas
Insured Losses From Marshall Fire Estimated Near $1B, Costliest In Colorado History
The late-season Marshall Fire in Boulder County, Colorado, which destroyed almost 1,000 structures after strong winds accelerated the spread, is estimated to have resulted in insured losses of approximately $1 billion, according to risk modeller Karen Clark & Company.
January 5, 2022
Catastrophe
Property
Colorado
Investigators Probe Source Of Devastating Colorado Wildfire
Authorities in Colorado were searching for more answers Monday as they investigated what caused the destructive fire that torched scores of homes and displaced residents in the suburbs of Denver last week.
January 3, 2022
Property
Colorado
Homeowners Premiums Rise Faster Than Inflation; Expect This To Continue
Homeowners insurance premium rates are rising faster than inflation, S&P Global Market Intelligence data shows, and Triple-I’s chief insurance officer says they’re likely to keep climbing.
January 3, 2022
Property
Did A Recent Court Ruling Doom COVID Biz Interruption MDL?
Nearly 60 lawsuits against Society Insurance suffered a fatal blow this month when a federal appeals court tossed pandemic-related claims for business-income interruption benefits against four other insurance companies, Society’s lawyers at Crowell & Moring and Purcell & Wardrope said in a Monday-night filing in federal court in Chicago.
December 23, 2021
Litigation
Property
Illinois
Tornadoes Drive Insured Losses Over $105B This Year
Devastation from tornadoes that slammed parts of the United States this month will push the insurance industry’s 2021 bill for weather-related claims well above the predicted $105 billion, industry experts said, and premiums should rise on worries that climate change will drive more severe weather.
December 22, 2021
Catastrophe
Property
Weather Service Confirms Seven Tornadoes Touched Down In Minnesota
The National Weather Service says the tornado that caused major damage in the southern Minnesota community of Hartland on Wednesday night was an EF-2, with estimated peak wind speeds of 115 mph.
December 20, 2021
Property
Iowa
Minnesota
Wisconsin
Cattle, Horses And Homes Lost In Kansas Wildfires
Officials say multiple homes and structures were destroyed by wildfires that scorched part of central Kansas.
December 17, 2021
Property
Kansas
2022 Flood Risk For U.S. Commercial Structures: Potential $13.5B In Damages
Pittsburgh is more than 200 miles (320 kilometers) from the nearest coast, yet its office and retail buildings face $420 million in exposure to flood damage, or the third-greatest of any city in the U.S., according to a report published Monday.
December 15, 2021
Catastrophe
Property
Florida
Louisiana
Massachusetts
Pennsylvania
Texas
Attempt To Remove Snakes Sets Maryland Mansion Ablaze
A Montgomery County, Md. homeowner got more than they bargained for after attempting to smoke out some unwanted pests from their home.
December 14, 2021
Property
Weird
Maryland
Atmospheric River Flooding In British Columbia The Costliest Weather Event In Province’s History
It’s official — the massive flooding in southern British Columbia is the costliest severe weather event in the province’s history.
December 14, 2021
Catastrophe
Property
Devastating, Rare December Tornado Outbreak Across Six States
One of the deadly tornadoes that erupted under the cloak of darkness overnight Friday into the early hours of Saturday, leaving at least 70 dead, may have set the record for the longest continuous tornado in American history.
December 12, 2021
Catastrophe
Property
Arkansas
Kentucky
Missouri
Tennessee
Advanced Analytics Still A Priority For Re/insurers
A new study by broker Willis Towers Watson (WTW) has found that expanding and improving the use of advanced analytics in several aspects of operations remains high on North American property & casualty (P&C) insurers’ strategies.
December 10, 2021
Liability
Property
