Claim - Insurance Industry Brief

Report: Cybersecurity Claims for Data Loss Vary Broadly

Insurance Journal

SEPTEMBER 26, 2024

Cybersecurity claims reported in recent years vary sharply, with larger claims reaching $500 million of data loss and smaller claims as low $1,000. NetDilligence released its annual report, which analyzes 10,464 claims from incidents between 2019 and 2023. The report …

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Specialist Risk Group Acquires UK Claims Specialist One Claim Ltd.

Insurance Journal

NOVEMBER 12, 2024

Specialist Risk Group (SRG), the London-based specialist insurance intermediary, announced the acquisition of One Claim Ltd. Based in Essex, England, One Claim provides broker partners and their clients with claims management support from initial notification through to settlement. The One …

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Report: Over 250,000 US Properties Have Repeated NFIP Claims

Insurance Journal

SEPTEMBER 19, 2024

properties have repeated claims for federal flood insurance, costing the National Flood Insurance Program billions of dollars in claims, according to new federal data compiled by the National Resources Defense Council. More than a quarter million U.S. Four states account …

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Claim Insurance Insurer Insured

Travelers: Costliest Claims Driven by Most Common Workplace Accidents

Insurance Journal

AUGUST 5, 2024

million workers compensation claims reveals the costliest claims are driven by the most common workplace accidents, according to Travelers 2024 Injury Impact Report. Analysis of 1.2 The data also shows first-year employees are still among those most vulnerable to injury.

Workers Compensation

Workers Compensation Claim Injury Compensation

Georgia Woman Charged with Insurance Fraud After Claimed Injuries

Insurance Journal

AUGUST 5, 2024

A woman in north Georgia has been charged with insurance fraud after she claimed that a “personal care device” caused injuries that cost as much as $350,000 to treat. Kamala Anderson, 45, of Snellville, was arrested last month after the …

Injury

Injury Claim Insured Insurance

LMI Claims are hiring

Prof. Allan Manning

OCTOBER 7, 2024

LMI continues to grow in claims work and as a result both LMI Group and Aequum Adjusters are looking to hire loss adjusters and or claims preparers in virtually every state and territory in Australia and New Zealand. The positions range from trainee, to highly experienced.

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Arbitration Claims Against LNG Exporter Venture Global Reach Close to $6 Billion

Insurance Journal

NOVEMBER 22, 2024

Pending arbitration claims against liquefied natural gas exporter Venture Global LNG Inc. Claims in cases by eight separate companies, including some … from several of its customers have grown to nearly $6 billion, according to a bond document seen by Bloomberg.

Claim

How Big Was the Cat? Investigator Warns About Claims of Clogged Toilets

Insurance Journal

SEPTEMBER 12, 2024

Did you hear the one about cat poop clogging a toilet, resulting in thousands of gallons of sewage water in the home and a big insurance claim? Lin Werkheiser, an insurance fraud investigator, has heard that one and many more …

Claim

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Old Damage, New Claim: Davies Risk Head Notes Rise in ‘Soft Fraud’ in Southeast

Insurance Journal

DECEMBER 2, 2024

With multiple hurricanes rocking Florida and other parts of the Southeast this year, claims professionals have said they are seeing a trend toward “soft fraud,” with more policyholders attempting to include older or unrelated damage in recent storm claims, and …

Damage

Damage Claim Policyholder Risk

Debby’s Florida Claims Already Near 12,000 as Yaworsky Says Market is Strengthening

Insurance Journal

AUGUST 11, 2024

The number of Florida claims from Hurricane Debby, filed within five days of the storm, already is almost half of the the number of claims filed in Hurricane Idalia in a three-month period. Debby claims by Friday had reached more …

Claim

Insurers Face Business Interruption Claims After Global Tech Outage

Insurance Journal

JULY 21, 2024

Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems …

Business Interruption

Business Interruption Claim Insurance Industry Insured

Tallahassee, Atlanta Dodge a Bullet, But Thousands of Claims Are Expected

Insurance Journal

SEPTEMBER 27, 2024

Hundreds of claims adjusters were set to move out across Florida, Georgia and western parts of the Carolinas Friday morning as Hurricane Helene brought high storm surge and 140 mph winds to a region that has faced three hurricanes in …

Claim

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Carolina Woman Charged with Using Mom’s Name to Get Policy, Filing Bogus Claim

Insurance Journal

DECEMBER 2, 2024

A North Carolina woman is set for a court appearance later this month after she was charged with filing a claim on her deceased mom’s house – for damage that occurred before the insurance policy was purchased. Cindy Ramzi Hanna, …

Policy

Policy Claim Damage Insurance Policy

Viewpoint: Elevating Claims Management by Taking Collaborative Approach With Clients

Insurance Journal

OCTOBER 1, 2024

Over the last 20 years, the role of the claims handler has evolved significantly, from a largely back-office function to one centred around partnership and mutual benefit. In today’s market, claims is now at the forefront of client-insurer relationships, playing …

Claim

Claim Insurance Insurer Insured

Claims Analysis: Roofs Define Luxury Homes’ Insurability

Insurance Journal

NOVEMBER 17, 2024

The insurance industry is facing a significant rise in roof-related claims. The combination of increasingly severe weather events, inflation-driven repair costs and the growing issue of roofing scams has created a perfect storm — one that is straining insurer portfolios …

Home Insurance

Home Insurance Claim Insurance Industry Insured

Trojan Condoms Contain ‘Forever Chemicals,’ Lawsuit Claims

Insurance Journal

SEPTEMBER 10, 2024

A new lawsuit on Monday claims that Trojan condoms are not safe because they contain toxic “forever chemicals,” which have been linked to cancer. In a proposed class action filed in Manhattan federal court, the plaintiff Matthew Goodman said Church …

Claim

Claim Liability

Travelers: Costliest Claims Driven by Most Common Workplace Accidents

Insurance Journal

AUGUST 18, 2024

million workers’ compensation claims reveals the costliest claims are driven by the most common workplace accidents, according to Travelers 2024 Injury Impact Report. Analysis of 1.2 The data also shows first-year employees are still among those most vulnerable to injury.

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Claim Injury Compensation

Helene Claims in Florida Already More Than 65,700 – Far More than Idalia

Insurance Journal

OCTOBER 2, 2024

The number of property insurance claims in Florida from Hurricane Helene had topped 65,700 by Tuesday, far more than the 25,000 seen in Hurricane Idalia a year ago, the Florida Office of Insurance Regulation reported. The total estimated insured losses …

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Hurricane Debby Florida Losses Top $121M; 60% of Claims Closed

Insurance Journal

SEPTEMBER 11, 2024

A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of Insurance Regulation reported this week. The …

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Claim Property Insurance Insurance Claim Insurance

CrowdStrike Rejects Delta Air Lines Claims Over Flight Woes

Insurance Journal

AUGUST 5, 2024

CrowdStrike on Sunday rejected a claim by Delta Air Lines that it should be blamed for flight disruptions following a July 19 global outage sparked by a faulty update, and suggested it had minimal potential liability. Delta CEO Ed Bastian …

Claim

Claim Liability Cyber

Claims from Hurricane Milton Continue to Rise in Florida

Insurance Journal

OCTOBER 21, 2024

Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. 21, the Florida Office of Insurance Regulation said carriers had reported more than 221,582 …

Claim

Claim Insurance Insurer Insured

The Regulatory Blind Spot: How Insurance Departments Fail to Detect Systemic Bad Faith Claims Practices

Property Insurance Coverage Law

OCTOBER 2, 2024

Recent investigative reporting by CBS’s 60 Minutes, noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, has exposed alleged widespread underpayments of claims and unethical claims practices in Florida’s property insurance industry.

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Claim Property Insurance Damage Insurance Industry

GSK Wins Latest Trial Over Zantac Cancer Claims

Insurance Journal

AUGUST 6, 2024

GSK won the latest trial over claims that discontinued heartburn drug Zantac caused cancer, as a jury on Monday found that the drug was not responsible for an Illinois woman’s illness, a company spokesperson said. Carrie Joiner had alleged in …

Claim

Claim Liability

With Back-to-Back Storms, Florida Now Facing Delays in Claims Adjusting

Insurance Journal

OCTOBER 9, 2024

With Hurricane Milton now expected to produce several hundred thousand wind-damage claims and with the storm coming so soon on the heels of Hurricane Helene, industry leaders are bracing for significant delays in claims adjusting. “We’re competing with Helene,” said …

Claim

Claim Damage

High Claims From Medium-Sized Disasters Keep Driving Hard Reinsurance Market

Insurance Journal

AUGUST 15, 2024

Hard reinsurance pricing conditions are likely to last longer than in previous market cycles mainly as a result of persistently high claims activity from the accumulation of medium-sized disaster losses and secondary perils, according to an AM Best report. As …

Claim

Long COVID Claims Still Impact California’s Workers Comp System, Report Shows

Insurance Journal

OCTOBER 6, 2024

The impact and surge of long-term COVID on the California workers’ compensation system since 2020 has been prevalent, including long-term impacts on disability and long-term patterns of medical cost and treatment on long COVID claims. That’s from a report by …

Workers Comp

Workers Comp Claim Compensation Workers Compensation Insurance

Milton’s 123,000 Claims So Far to Mean New Pressure on Reinsurance, Rate Hikes

Insurance Journal

OCTOBER 15, 2024

Property Insurance claims from Hurricane Milton had topped more than 123,000 by Sunday, with some $1.5 That’s already more than the claims and losses reported for Helene, which made landfall in Florida two weeks earlier, … billion in estimated insured losses.

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Penn State to Pay $1.25M to Resolve Claims of Cybersecurity Non-Compliance

Insurance Journal

OCTOBER 23, 2024

The Pennsylvania State University has agreed to pay $1,250,000 to settle claims that it violated the False Claims Act by failing to comply with cybersecurity requirements in 15 contracts involving the Department of Defense (DoD) or National Aeronautics and Space …

Claim

Morgan & Morgan Vows to Fight Proposed Class Action on ‘Botched’ Injury Claims

Insurance Journal

JULY 23, 2024

But perhaps the Orlando-founded firm has grown too big, too quickly, suggests a proposed class-action lawsuit that claims the firm has botched hundreds of … Morgan & Morgan calls itself the nation’s largest injury law firm, with offices in most states.

Injury

Injury Claim Workers Compensation Insurance Claim

Florida Citizens’ Brass Tired of ‘Clickbait’ News on its Hurricane Claims Denials

Insurance Journal

NOVEMBER 21, 2024

took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. Officials with Florida’s Citizens Property Insurance Corp. “That’s just not accurate,” Citizens …

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Claim Property Insurance Insurance Insurer

Claim Frequency in California Workers’ Comp Higher in L.A. Area, Study Shows

Insurance Journal

DECEMBER 4, 2024

Claim frequency in California workers’ compensation remains significantly higher in the Los Angeles Basin than in the northern part of the state, a new study shows. The Workers’ Compensation Insurance Rating Bureau of California released its WCIRB Geo Study 2024, …

Workers Comp

Workers Comp Claim Compensation Workers Compensation Insurance

Cannabis Firm Fights Insurer’s Denial of Business Income Loss Claim Following Fire

Insurance Journal

JULY 28, 2024

million in claimed business income losses to a cannabis growing company after a building fire shuttered one of its “flowering” rooms for 68 days. A Berkshire Hathaway insurer is insisting it does not owe $1.3 National Fire and Marine Insurance …

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Claim Building Marine Insurance

Philadelphia Eagles and 76ers Lose Delayed Covid Claim Cases

Insurance Journal

OCTOBER 17, 2024

Two Philadelphia professional sports team have lost their appeals over denied business interruption insurance claims tied to the COVID-19 pandemic. District Judge Michael Baylson this week dismissed lawsuits by the Philadelphia 76ers basketball team and the Philadelphia Eagles football …

Business Interruption

Business Interruption Claim Insurance Claim Insurance

New Hampshire High Court Invalidates Geico Underinsured Claim Provision

Insurance Journal

DECEMBER 1, 2024

By Andrew Simpson A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the right of insureds to obtain the same benefits they …

Claim

Claim Auto Insurance Insurance Insurer

Court Upholds Finding That Montana Clinic Submitted False Asbestos Claims

Insurance Journal

SEPTEMBER 27, 2024

A federal appeals court has upheld a lower court determination that a Montana health clinic submitted hundreds of false asbestos claims on behalf of patients. A jury decided last year that the clinic in a town where hundreds of people …

Claim

Claim Liability

Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI

Insurance Journal

OCTOBER 1, 2024

The average cost of workers’ compensation claims in Delaware, for cases with more than seven days of lost work, went up by 3% per year between 2019 and 2022, according to a new study from the Workers Compensation Research Institute …

Workers Compensation

Workers Compensation Compensation Claim

CFPB Claims Supervision Over Google Unit, Which Promptly Sues

Insurance Journal

DECEMBER 8, 2024

The Consumer Financial Protection Bureau said it’s claiming supervisory authority over Google Payment Corp., as the agency extends its oversight of nonbank financial platforms. The unit of Alphabet Inc. promptly filed a lawsuit to fight the move. The CFPB’s finding, …

Claim

Claim Protection

Fla. DFS Offers to Check Contracts With Roofers, Adjusters; Tenn. Eyes Claims Denials

Insurance Journal

OCTOBER 30, 2024

Officials in two Southeastern states have taken steps to hold insurers or recipients of insurance funds accountable after Hurricanes Helene and Milton spurred thousands of insurance claims. The Tennessee Department of Commerce and Insurance reminded insurance carriers that they must …

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Claim Insurance Carrier Insurance Claim Insurance

Claims From 4 Summer Weather Events in Canada Exceed Prior Year Total: IBC

Insurance Journal

SEPTEMBER 5, 2024

Four natural catastrophes over four weeks during Canada’s summer season have resulted in about five times the amount of claims than the 20-year average, reported the Insurance Bureau of Canada. About 228,000 home, auto and business insurance claims have been …

Claim

Claim Insurance Claim Business Insurance Insurance

How Social Media Complicates Defamation Claims and How to Handle Them

Insurance Journal

SEPTEMBER 11, 2024

Five professional models who sued long after a state’s three year statute of limitations expired may pursue their defamation claims against an adult entertainment nightclub for posting their images to the giant social media site Facebook without their permission. However, …

Claim

Claim Liability

Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims

Insurance Journal

SEPTEMBER 10, 2024

Professional liability claims impact a multitude of professions, including those in the legal, medical, financial and insurance industries. Claims for malpractice, breach of contract, breach of fiduciary duty and related issues can result in widespread premium increases and professional discipline.

Liability

Liability Claim Risk Premium

CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management

Property Insurance Coverage Law

SEPTEMBER 30, 2024

The investigative report featured testimony from whistleblowers who claim that insurance companies deliberately altered hurricane damage reports to underpay homeowners, leaving many Floridians struggling to rebuild their lives in the wake … The post CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage (..)

Insurance Companies

Insurance Companies Damage Claim Property Insurance

Agents Report Limited Damage But More Claims Expected As Floridians Return Home

Insurance Journal

OCTOBER 11, 2024

Insurance agents and carriers in the path of Hurricane Milton reported only minor damage to their own offices and homes but a rapidly growing number of claims from residential and commercial policyholders for roof, flood and auto damage. The Florida …

Damage

Damage Agents Claim Policyholder

Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment

Insurance Journal

SEPTEMBER 9, 2024

million in fire insurance claims payments to repair the property. The landlord for a fire-damaged building leased to a Red Lobster restaurant is blaming the restaurant’s insurer for causing it to lose out on $1.2 RL New Brunswick Owner LLC, …

Claim

Claim Damage Insurance Claim Building

Report: Cybersecurity Claims for Data Loss Vary Broadly

Specialist Risk Group Acquires UK Claims Specialist One Claim Ltd.

Trending Sources

Report: Over 250,000 US Properties Have Repeated NFIP Claims

Travelers: Costliest Claims Driven by Most Common Workplace Accidents

Georgia Woman Charged with Insurance Fraud After Claimed Injuries

LMI Claims are hiring

Arbitration Claims Against LNG Exporter Venture Global Reach Close to $6 Billion

How Big Was the Cat? Investigator Warns About Claims of Clogged Toilets

Old Damage, New Claim: Davies Risk Head Notes Rise in ‘Soft Fraud’ in Southeast

Debby’s Florida Claims Already Near 12,000 as Yaworsky Says Market is Strengthening

Insurers Face Business Interruption Claims After Global Tech Outage

Tallahassee, Atlanta Dodge a Bullet, But Thousands of Claims Are Expected

Carolina Woman Charged with Using Mom’s Name to Get Policy, Filing Bogus Claim

Viewpoint: Elevating Claims Management by Taking Collaborative Approach With Clients

Claims Analysis: Roofs Define Luxury Homes’ Insurability

Trojan Condoms Contain ‘Forever Chemicals,’ Lawsuit Claims

Travelers: Costliest Claims Driven by Most Common Workplace Accidents

Helene Claims in Florida Already More Than 65,700 – Far More than Idalia

Hurricane Debby Florida Losses Top $121M; 60% of Claims Closed

CrowdStrike Rejects Delta Air Lines Claims Over Flight Woes

Claims from Hurricane Milton Continue to Rise in Florida

The Regulatory Blind Spot: How Insurance Departments Fail to Detect Systemic Bad Faith Claims Practices

GSK Wins Latest Trial Over Zantac Cancer Claims

With Back-to-Back Storms, Florida Now Facing Delays in Claims Adjusting

High Claims From Medium-Sized Disasters Keep Driving Hard Reinsurance Market

Long COVID Claims Still Impact California’s Workers Comp System, Report Shows

Milton’s 123,000 Claims So Far to Mean New Pressure on Reinsurance, Rate Hikes

Penn State to Pay $1.25M to Resolve Claims of Cybersecurity Non-Compliance

Morgan & Morgan Vows to Fight Proposed Class Action on ‘Botched’ Injury Claims

Florida Citizens’ Brass Tired of ‘Clickbait’ News on its Hurricane Claims Denials

Claim Frequency in California Workers’ Comp Higher in L.A. Area, Study Shows

Cannabis Firm Fights Insurer’s Denial of Business Income Loss Claim Following Fire

Philadelphia Eagles and 76ers Lose Delayed Covid Claim Cases

New Hampshire High Court Invalidates Geico Underinsured Claim Provision

Court Upholds Finding That Montana Clinic Submitted False Asbestos Claims

Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI

CFPB Claims Supervision Over Google Unit, Which Promptly Sues

Fla. DFS Offers to Check Contracts With Roofers, Adjusters; Tenn. Eyes Claims Denials

Claims From 4 Summer Weather Events in Canada Exceed Prior Year Total: IBC

How Social Media Complicates Defamation Claims and How to Handle Them

Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims

CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management

Agents Report Limited Damage But More Claims Expected As Floridians Return Home

Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment

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