Woman Awarded $40K In State Farm Bad-Faith Lawsuit

Collision repairers and policyholders might have an easier time collecting and being made whole for necessary repair procedures following court actions this year against State Farm in a bad-faith contract case.
December 20, 2016 Auto Litigation Risk Management Georgia

San Diego Court Order For State Farm Insurance Refund Stays

A San Diego superior court judge upheld the California Insurance Commissioner’s order to State Farm to reduce rates for homeowners and renters insurance.
December 19, 2016 Legislation & Regulation Risk Management California

Wisconsin County, Insurer Settle For $1M In Embezzlement Case

Eau Claire County agreed to a $1 million settlement with its insurance company Tuesday to recoup most of the money embezzled by two former employees.
December 14, 2016 Excess & Surplus Lines Risk Management Wisconsin

U.S. Supreme Court Rules Against Insurer In Katrina Fraud Case

The Supreme Court on Tuesday upheld a jury verdict that found State Farm defrauded the U.S. government when the insurance company assessed damage caused by Hurricane Katrina along the Gulf of Mexico coast in 2005.
December 6, 2016 Fraud Litigation Property Risk Management Illinois Mississippi

Insurance Software Is An $8 Billion Market

The size of the insurance software market is projected to exceed $8 billion this year, according to a new report from market research company IBIS.
December 6, 2016 Risk Management

Road Rage Settlement With Geico Was Done In Bad Faith, Florida Court Says

It took six years, but a federal jury in a Florida court has determined car insurance giant Geico acted in bad faith when it didn’t fully settle a claim with the family of a woman who died in a road rage accident.
December 6, 2016 Liability Litigation Risk Management Florida

6 Uses For Blockchain In Insurance

Blockchain technology is "revolutionary" for a lot of industries, including insurance. That’s according to the Blockchain in Insurance: Progress and Plans report from SMA partner Mark Breading, released this month.
December 1, 2016 Risk Management Technology

Business Is Booming For Reputation Insurance Providers

The social media world has been awash with news stories about fake news going viral on Facebook and Google. The slugfest that was the 2016 US election opened a window for opportunistic writers to invent news that some people wanted to hear but did not necessarily have any basis in truth.
November 29, 2016 Liability Litigation Risk Management

D&O Liability Increasing As Shareholder And Regulator Activism Rises Globally

New risks such as cyber incidents and data privacy, rising regulator and shareholder activism and the influence of third party litigation funders are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, according to a new risk report by Allianz Global Corporate & Specialty (AGCS), a leading provider of Directors and Officers (D&O) insurance globally.
November 29, 2016 Liability Litigation Risk Management

Wells Fargo Seeks Arbitration In Class-Action Suit Over Improper Sales Practices

Wells Fargo & Co. wants a federal court judge in Utah to order that customers suing the banking giant over improper sales practices submit their claims to binding arbitration.
November 28, 2016 Litigation Risk Management California Utah

New York Regulator May Ban Insurers From Using Occupational Data

What personal data should insurers be allowed to use to price premiums? This question has been raised in New York, as a regulator is said to be considering prohibiting auto-insurers from using consumers’ occupations to price their policies.
November 17, 2016 Legislation & Regulation Risk Management New York

State Farm Ordered To Refund California Homeowners $104M

Acting upon a petition from the Consumer Federation of California (CFC), California Insurance Commissioner Dave Jones has ordered State Farm to refund homeowners insurance policyholders $104 million and reduce rates going forward.
November 8, 2016 Legislation & Regulation Property Risk Management California

The Real Cost Of Claims Professional Fee Concessions

Insurers historically have sought to obtain independent property adjusting services to balance better, faster, and cheaper outcomes. In years past, “balancing” was understood to be the operative word.
November 2, 2016 Risk Management

Ripple Effect Of Streaming Transportation Services On Claims

From the invention of the phonograph to long-playing records, eight-track tapes, compact discs, and MP3s, we’ve experienced music by owning it. We bought it, organized it, and chose what to play.
October 28, 2016 Auto Liability Litigation Risk Management Technology

Opportunites, Challenges Ahead For Insurers With The Next POTUS

One of the largest federal lobbying bodies for the property/casualty industry does not take a position in presidential politics, but at least one among its leaders believes either outcome of the 2016 contest will be a mixed bag for the insurance business.
October 27, 2016 Legislation & Regulation Liability Property Risk Management
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