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Nuclear verdicts in the United States are breaking records with 27 court cases each awarding compensation of more than US$100 million during 2023, according to Swiss Re executives.
Losses from recent wildfires in California have led many insurance carriers to scale back, and some have completely ceased writing insurance in several California regions. For homeowners who have found themselves unable to find another company that will insure their property, the California FAIR Plan remains the only option. So what is it? And how … The post What Is the California FAIR Plan?
Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Increasing inbound calls is vital for any insurance agency looking to grow its client base. By optimizing your Google Business Profile and implementing effective local SEO strategies , you can make your agency more visible to potential clients and boost the number of inquiries.
Here's how to address hail damage on the roof of your home or business. The post Addressing Hail Damage: What You Need to Know appeared first on Central Insurance Blog.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Lawsuits are starting to be filed on a more regular basis regarding State Farm’s alleged wrongful use of Xactimate to underpay claims based on “new construction” settings. A judge in a Mississippi case 1 recently ordered the parties to appraisal, noting: The lawsuit concerns only property insurance coverage for buildings, referenced as the ‘A1 coverage,’ … The post Are Insurers Using “New Construction” Xactimate Settings Wrongfully Underpaying Claims?
Lawsuits are starting to be filed on a more regular basis regarding State Farm’s alleged wrongful use of Xactimate to underpay claims based on “new construction” settings. A judge in a Mississippi case 1 recently ordered the parties to appraisal, noting: The lawsuit concerns only property insurance coverage for buildings, referenced as the ‘A1 coverage,’ … The post Are Insurers Using “New Construction” Xactimate Settings Wrongfully Underpaying Claims?
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By Madison Johnson, Esq. | Marketing Manager The current generation of commercial Generative Artificial Intelligence (Gen AI) tools have dazzled legal professionals with their capabilities for generating rough drafts of documents from scratch. But what they have quickly discovered to be missing are the reliability of accurate legal citations, personalized content that is unique to their law firm’s client experience, and the individual voice or perspective of the lawyer creating the legal documen
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William Rabb of the Insurance Journal wrote an article, Study Stirs Debate on Real Impact of Litigation, Fraud on Property Insurance. He noted a post on this blog, Insurance Fraud Cost Statistics Are a Fraud, and stated the following: An academic paper published in the Journal of Insurance Regulation seems to have rekindled the debate over how much … The post Insurance Journal Picks Up on Academic Article Exposing Fraudulent Statistics by Insurance Industry appeared first on Property Insur
Insurance professionals use Trellis to streamline claims management by analyzing legal trends, predicting outcomes, and strategizing effectively to serve clients better. Adjusters can evaluate claim validity, estimate settlement amounts, and identify potential litigation risks. Trellis' extensive State Trial Court Data can be leveraged to identify opposing/outside counsel and top mediators for insurance matters, evaluate the risk of new claims by viewing similar claim litigation history, and mor
Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Insurance marketing is the driving force behind the growth of any successful insurance agency. Whether you’re an established agency owner or just starting, having a strong marketing strategy is essential to attract new clients, retain existing customers, and scale your insurance business.
A Florida home inspector allegedly used the same stock photographs in more than 200 home and wind-mitigation inspections, costing Citizens Property Insurance Corp. more than $88,000, the state Department of Financial Services said after the man was arrested.
The post “Are Insurers Using “New Construction” Xactimate Settings Wrongfully Underpaying Claims?” noted that “lawsuits are starting to be filed on a more regular basis regarding State Farm’s alleged wrongful use of Xactimate to underpay claims based on ‘new construction’ settings.” One of those cases was an unsuccessful attempt to make a class action regarding … The post Leakage and McKinsey Claims Process Handling Still at Issue appeared first on Property Insurance Coverage L
You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Gulf of Mexico offshore platforms evacuated ahead of Storm Francine appeared first on Insurance Marine News.
When selecting a company doctor or a preferred occupational medicine clinic for your workforce, it is crucial to keep several key factors in mind. Ensuring that your employees receive top-notch care, while also focusing on reducing downtime, improving recovery, and fostering a positive working relationship between employer, employee, and medical provider, is essential.
Lehigh Valley Health Network has agreed to a $65 million settlement of a class action with patients and employees affected by a 2023 ransomware attack that exposed personal and medical information including nude photos of patients.
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You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post US Gulf energy output impacted, ports in Louisiana on high alert appeared first on Insurance Marine News.
Medical cost containment is an essential aspect of managing workers’ compensation claims effectively. Employers and insurance companies face the challenge of controlling medical costs while ensuring that injured employees receive the care they need. Various medical cost containment strategies play a pivotal role in managing these claims efficiently.
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Many property adjusters and policyholders often think of business income and interruption claims as being solely an accounting function. This is not true because there must be a determination of the “period of restoration.” A question sometimes arises whether the “period of restoration” is a coverage question reserved for courts or an issue that an … The post Can an Appraisal Panel Determine the Period of Restoration for a Business Interruption Dispute?
You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Allseas pipelay barge goes aground off Mexico appeared first on Insurance Marine News.
Warm water in the Atlantic Ocean and Gulf of Mexico can fuel powerful hurricanes, but how destructive a storm becomes isn’t just about the climate and weather – it also depends on the people and property in harm’s way.
One item that every policyholder and public adjuster should know is the late date when a lawsuit must be filed, or rights to recovery are lost. This statute of limitations date is extremely important and sometimes confusing to determine. Each state has its own laws. A pending case where a decision is awaiting from a … The post What Is the Deadline to File a Lawsuit?
You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Shipowners’ Club reports underwriting surplus at half-year point appeared first on Insurance Marine News.
Commercial insurance is more intricate than ever. With the nature and location of work transforming, companies face dynamic risks – particularly for Excess & Surplus (E&S) coverage. But it can be tedious for insurance brokers and Managing General Agents (MGAs) to provide these options to businesses at scale.
The answer to the question in the title is answered in the attached complaint. 1 Zurich paid a claim and listed the named insured on the check. The loss payee was not listed on the payment check. The insured went bankrupt. The loss payee is now suing Zurich. For more discussion about loss payees, please … The post Why Do Insurers Put Mortgagees and Loss Payees on Checks?
You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post UK sanctions 10 of Russia’s ‘shadow fleet’ appeared first on Insurance Marine News.
Your Step-by-Step Guide to Mastering the Medicare Annual Enrollment Period. Why AEP Success Matters Overview: The Annual Enrollment Period (AEP) is a crucial time for Medicare agents. Success during this period can significantly impact your business for the entire year. AEP runs from October 15th to December 7th, and it's essential to be well-prepared, compliant, and proactive.
An academic paper published in the Journal of Insurance Regulation seems to have rekindled the debate over how much of an impact litigation and fraud have had on property insurance losses and premiums, particularly in Florida.
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