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Florida CFO Bars Insurers From Altering Adjusters’ Reports Without Explanation

Insurance Journal

Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …

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How to pick an insurance agent: 6 questions to ask.

Frankenmuth Insurance

Wondering how to choose an insurance agent? Agents who represent only one insurance company are called direct or captive agents. If you know you want a certain brand of insurance, a direct agent can work for you, but be sure to get a detailed quote first. Some offer property and casualty insurance, but not life insurance.

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Does a sagging floor constitute a “collapse”? Court finds ambiguity in “collapse.”

The Property Insurance Law Observer

Harleysville Insurance Company , 2024 WL 3792261 (D. Background The plaintiff-insured provided residential and day habilitation services in a property covered by a commercial package insurance policy issued by the defendant-insurer. This prompted the insured to submit a claim. In Life Skills, Inc.

Building 130
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JIF 2024: What’s In a Name? When It Comes to Legal System Abuse, A Lot

Triple-I: Homeowners Insurance

last year – has commandeered the messaging once associated with insurers, noted Temple, who encouraged the industry to “take back that high ground” of providing “dependability and stability during the worst days of people’s lives” without overuse of brand mascots or jingles. “We We want to pay claims as expeditiously as possible….

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Group Captives Offer Cost-Sensitive Companies Opportunities to Savein Face of Inflation

Triple-I: Workers Compensation

By Max Dorfman, Research Writer, Triple-I Today’s inflationary conditions may increase interest for group captives – insurance companies owned by the organizations they insure – according to a new Triple-I Executive Brief. Group captives can provide a viable way to protect companies across several lines of casualty insurance.

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Can Insurance Agents Give Gifts for Referrals?

Agency MVP

The fee paid is not dependent upon whether the referral results in the sale of insurance. The payment is typically labeled as a bonus or finders fee when provided by an insured company, and the amount can vary depending on the agency and the state's regulations. For instance, N.Y.

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The Pressures of Operational Optimization

Majesco

We have companies with really significant loss ratios that won’t improve in 2024, possibly not even in 2025. There is inflation and its pressure on claims costs, whether it’s medical or it is physical damage to homes and businesses. If you look at the biggest cost on the income statement of an insurer, it is always claims.