XL Group Estimates $1.33B Loss From Hurricanes Harvey, Irma And Maria

XL Group Ltd. reported on Wednesday a preliminary estimate of approximately US$1.33 billion relating to Hurricanes Harvey, Irma and Maria.
October 13, 2017 Catastrophe Property Florida Texas

AIG Forecasts $3B In Q3 Catastrophe Losses

American International Group expects to record insurance losses of roughly $3 billion during the third quarter from the recent hurricanes and earthquakes.
October 10, 2017 Auto Catastrophe Excess & Surplus Lines Marine Property Florida Georgia South Carolina Texas

About 85% Of U.S. Gulf Oil Output Offline Due To Nate

About 85 percent of U.S. Gulf of Mexico oil production is offline in the aftermath of Hurricane Nate, the U.S. Department of the Interior’s Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
October 10, 2017 Excess & Surplus Lines Louisiana Texas

Property Claim Services, NFIP To Report Aggregate Flood Loss Estimates

Property Claim Services (PCS) reported on Thursday that it will publish aggregate flood loss information supplied by the National Flood Insurance Program (NFIP), beginning with Hurricane Harvey.
October 6, 2017 Liability Property Mississippi Texas

The Problems With Harvey: Litigation Lessons

In the days after a catastrophic loss like Hurricane Harvey, challenges abound for insurers. Due to the extensive damage often caused by a disaster, insureds are justifiably distraught.
October 5, 2017 Catastrophe Litigation Property Louisiana Texas

$31.5M Verdict Against Texas Collision Center For Improper Repairs

A Texas jury found that John Eagle Collision Repair Center owes $31.5 million for performing an improper repair that led to a couple being trapped in a burning car.
October 5, 2017 Liability Litigation Risk Management Texas

Driver Who Led Texas Police On High-Speed Chase Was 10-Year-Old

Texas police were startled after they chased a pickup truck at speeds up to 85 mph — only to find out that a 10-year-old boy was behind the wheel.
October 5, 2017 Auto Liability Texas

Weathering The Storm: Texas’ Hailstorm Litigation Reform Bill

Texas is known for its prolific weather events — wind, hail, tornadoes and, most recently, Hurricane Harvey — all of which can wreak havoc and cause significant damage to residential and commercial properties. As the locals say: “If you don’t like the weather in Texas, wait five minutes” and the next weather pattern will roll in. But six-12 months after the storm rolls out, Texas is known for another prolific event: the filing of storm litigation cases across the state.
October 3, 2017 Auto Catastrophe Property Texas

Underwriter’s Loss From Hurricanes Harvey And Irma Greater Than Expected

Lloyd’s of London underwriter Hiscox Ltd estimated on Monday that it would face net claims totalling about $225M from Harvey and Irma, as insurers and reinsurers count the cost of the hurricanes.
October 2, 2017 Catastrophe Property Florida Texas

Harvey’s Coverage Issues: Claims And Litigation

“Harvey raises many coverage issues ranging from occurrence limits to application of sub-limits and deductibles, to business interruption claims where there is no physical damage to insured property."
September 28, 2017 Catastrophe Litigation Property Texas

Thousands Of Travel Insurance Claims Filed After Hurricanes

The active 2017 hurricane season has led to a sudden influx of travel insurance claims as vacations and business trips see interruptions. This type of storm season has helped to demonstrate the value that this type of insurance coverage can offer travelers.
September 27, 2017 Excess & Surplus Lines Florida Louisiana Texas

Drones Are More Helpful Than Ever In Hurricane-Ravaged Texas And Florida

Unmanned aircraft — small and large — swooped in during the aftermath of Hurricanes Irma and Harvey to get a glimpse of the devastation. That’s why insurance companies have been using drone technology more than ever before to quickly — and safely — assess damage from the storm.
September 25, 2017 Catastrophe Property Risk Management Technology Florida Texas

Allstate Estimates $593M In Losses From Harvey

Allstate expects insurance losses of about $593 million in August after Hurricane Harvey left a path of destruction along the Gulf Coast. The initial accounting Thursday follows warnings from other insurers that are tallying the damages from a hurricane season that is nowhere near being over.
September 22, 2017 Auto Catastrophe Property Louisiana Texas

Business Interrupted: Hurricane-Damaged Firms Dig In For Insurance Fight

Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers.
September 22, 2017 Property Florida Texas

Shortage Of Independent Adjusters Leads To Highest Fees Ever Paid

Independent adjusters in Florida might have their work cut out for them — with numerous Hurricane Irma-related claims being filed — but they look set to be compensated for their hard work with the region’s increased pay rates.
September 18, 2017 Catastrophe Property Risk Management Florida Texas

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