Claims News Recap
October 2nd - 6th, 2017
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Friday, October 6th, 2017
The mayor of New Orleans late Thursday declared a state of emergency for the city ahead of Tropical Storm Nate, which has already been blamed for 22 deaths in Nicaragua and Costa Rica. The city’s mayor Mitch Landrieu said residents who live outside the city’s levee system or in low-lying areas should move to higher ground...
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Thursday, October 5th, 2017
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. The lawsuit gained national media attention in August after Matthew and Marcia Seebachan, who were trapped in the crushed, burning 2010 Honda Fit after a collision, found that John Eagle Collision Center (Dallas) had used glue instead of welds when replacing a hail-damaged steel roof on the vehicle prior to the accident...
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Wednesday, October 4th, 2017
Risk managers and consultants are advocating a shift away from focusing on claims management metrics such as closure rates toward continuing education, feedback and scenario-based learning for claims professionals to enhance their skills. Forty-six percent of workers compensation claims professionals surveyed recently believe claims adjusters gain expertise after four to six years on the job, according to a study released Tuesday by Rising Medical Solutions...
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Tuesday, October 3rd, 2017
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...
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Monday, October 2nd, 2017
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. The company said that despite continuing uncertainty around the losses from Harvey and Irma, the estimates were within its modelled range of claims for events of this nature and that it still had “depth of cover” in its reinsurance business...
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