Claims News Recap
June 18th - 22nd
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Friday, June 22nd, 2018
Insurance is a multitrillion-dollar industry, but the workflow in brokering trust, insuring parties and reinsuring risk items today remains an expensive, slow and fraud-prone process. Although the digital age has inevitably brought about technological innovations, the centuries-old insurance industry seems to still be heavily drowning in paperwork and redundant manual procedures...
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Thursday, June 21st, 2018
Fourseventy Claims, a leading independent adjustment firm and third-party administrator, today announced a new collaboration with Spex Technologies, a premier insurtech platform provider that delivers better claims processing, property inspections and reporting. The two companies began testing their combined solution during Hurricane Harvey and Hurricane Irma in 2017...
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Wednesday, June 20th, 2018
Last month, a group of 10 families filed an action against the European Union at the European General Court, the EU’s second highest court. All claim to have suffered loss from climate change. Specifically, they argue that greenhouse gas (GHG) emissions from the EU have violated their fundamental rights to health, occupation, property and equal treatment...
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Tuesday, June 19th, 2018
Small insurers or mutuals may decide to partner with independent adjusting (IA) firms as a way of providing them with flexibility on costs and full-time staff. On May 30, Contractor Connection, a service line of IA firm Crawford & Company (Canada) Inc., announced that it was partnering with Peel Mutual, one of the largest mutual insurers in Ontario...
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Monday, June 18th, 2018
The wave of natural disasters that struck North America and the rest of the world last year led to an increase in insured losses seen in 2016 to $144 billion for 2017, according to a recent Swiss Re report. Yet the catastrophic year also led to a reckoning for property insurance pricing as rates continue to rise. “As a property underwriter, the best way to describe 2017 is...
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