Sat.Oct 05, 2024 - Fri.Oct 11, 2024

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New York Mets Hit With Class Action Alleging Biometric Privacy Violations

Insurance Journal

The company that owns the New York Mets professional baseball team is the target of a class action lawsuit alleging the organization collects and profits from fans’ biometric information at its stadium, CitiField, in violation of the city’s biometrics privacy …

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LMI Claims are hiring

Prof. Allan Manning

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. If you are interested or know of someone who may be, please send in a CV on my email address: Allan.Manning@LMIGroup.com.

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Hurricane Helene and Milton Survivors Navigating Insurance Claims and Recovery: United Policyholders’ Roadmap to Recovery Program Offers Crucial Support

Property Insurance Coverage Law

In the wake of the devastating Hurricanes Helene and Milton that recently struck Florida and neighboring states, policyholders are facing the daunting task of rebuilding their lives and navigating complex insurance claims. As an attorney specializing in insurance coverage cases, I’ve seen firsthand the challenges that disaster survivors face. Today, I want to highlight a … The post Hurricane Helene and Milton Survivors Navigating Insurance Claims and Recovery: United Policyholders

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When the Appraisal Says One Thing, But the Policy Says Another: A Florida Insurance Case Study

The Property Insurance Law Observer

In a recent decision by the U.S. District Court for the Middle District of Florida, Wood v. GeoVera Specialty Insurance Company (2024 WL 3952571), the court affirmed that unambiguous policy limits remain enforceable even when an appraisal award exceeds those limits. This decision provides valuable guidance for insurers handling post-catastrophe claims.

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Hurricanes Milton and Helene Expose Limits of US Flood Maps

Insurance Journal

Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast US, it’s already clear that federal flood-risk maps underpinning decisions by millions of American homeowners and businesses are severely out of sync with a new …

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Blog Post: Breaking Down Law Firm Data Silos with New AI-Powered Tools

LexisNexis

By Madison Johnson, Esq. | Marketing Manager Large law firms have been on a technology transformation journey for the past two decades, embracing new ways of empowering lawyers to work more efficiently and more effectively with the aid of fast-moving legal tech innovations. These firms now find themselves in a bit of a quandary that was the inevitable result of this rapid growth in reliance on technology.

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Hurricane Helene National Flood Insurance Proofs of Loss Deadline Extended for 120 Days From 60 Days

Property Insurance Coverage Law

While better than nothing, the deadline to file federal flood proofs of loss has been extended to 120 days from the flooding of Hurricane Helene. It should have been for a year, as was common following catastrophic hurricanes. Here is the language granting the extension: To allow enough time for policyholders to evaluate their losses, … The post Hurricane Helene National Flood Insurance Proofs of Loss Deadline Extended for 120 Days From 60 Days appeared first on Property Insurance Coverage

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Flaws of the Saffir-Simpson Scale: Wind Isn’t the Only Threat in Modern Hurricanes

Insurance Journal

The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate assessment of these risks is more important than ever.

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It was only a three-day strike, but huge cargo backlog sits in Atlantic

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post It was only a three-day strike, but huge cargo backlog sits in Atlantic appeared first on Insurance Marine News.

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Reflections on Historic Hurricane Milton Before It Strikes the Central West Coast of Florida

Property Insurance Coverage Law

Imagine standing at a crossroads, where one path leads to your safety and the other to a stranger’s peril. Would you silently hope for your path to be the safer one? This moral dilemma isn’t just hypothetical—it’s a reflection of the wishes we make every day. I found myself deeply thinking about this while texting … The post Reflections on Historic Hurricane Milton Before It Strikes the Central West Coast of Florida appeared first on Property Insurance Coverage Law Blog.

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Blog Post: Corporate Transparency Act Compliance: What In-House Counsel Need to Know

LexisNexis

It has been three years since the adoption of the Corporate Transparency Act (CTA) , which went into effect at the beginning of this year, and now the first filing deadline is fast-approaching on January 1, 2025. In-house counsel at companies of all sizes are racing to get important questions answered so they can be confident they are in full compliance with the CTA’s various rules.

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Hurricane Milton Insured Loss Could Be $60 Billion, Similar to 2002’s Ian: RBC

Insurance Journal

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said.

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September’s Russian strike on bulk carrier off Romania was probably unintentional, says MoD

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post September’s Russian strike on bulk carrier off Romania was probably unintentional, says MoD appeared first on Insurance Marine News.

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NFIP Escapes Payment with Form-Over-Substance Rules—The Need For Reform of the National Flood Insurance Program

Property Insurance Coverage Law

While speaking at the Florida Association of Public Insurance Adjusters Fall Conference regarding National Flood Insurance claims, I promised to blog about a recent case that made its way through the federal courts. Homeowners Henry and Mary Siedzikowski learned some hard lessons about the strict requirements for flood insurance claims. The case, which began in … The post NFIP Escapes Payment with Form-Over-Substance Rules—The Need For Reform of the National Flood Insurance Program appeare

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Hong Kong Chamber of Shipping established

Splash: Finance and Insurance

The Hong Kong Chamber of Shipping was launched yesterday as a body designed to boost the city’s credentials as an international maritime centre. CY Leung, former head of the territory, is one of the chamber’s co-founders, with Hing Chao, the head of Wah Kwong Maritime Transport, serving as its chairman.

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

Insurance Journal

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.

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California’s Governor Newsom vetoes Maritime Safety Bill

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post California’s Governor Newsom vetoes Maritime Safety Bill appeared first on Insurance Marine News.

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Stop Using Licensed Contractor Bids For Claim Estimates—A Quick Analysis of Florida’s Imperfect Emergency Rule of Property Loss Adjusting

Property Insurance Coverage Law

The Florida Department of Financial Services (DFS) issued Emergency Rule 69BER24-4, which aims to address issues in the property insurance claims process. While the rule attempts to improve transparency and accountability, it raises several concerns and potential unintended consequences. It is obviously a political response to the CBS 60 Minutes documentary noted in CBS 60 … The post Stop Using Licensed Contractor Bids For Claim Estimates—A Quick Analysis of Florida’s Imperfect Emergency R

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Top Benefits of a Comprehensive Car Insurance

Top Insurance Blogs

One of the top predicaments upon purchasing a new car is getting a comprehensive car insurance. While it seems like a daunting task- especially if you’re a first-time car buyer and non-car enthusiast – securing your car through a comprehensive insurance will help you save significant time, money, and headaches in case of accidents or unforeseen troubles.

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Wisconsin Recycling Company Fined $202K for Exposing Workers to Lead, Cadmium

Insurance Journal

A follow-up inspection by federal workplace safety investigators in April 2024 found a Janesville, Wisconsin recycling company continuing to expose employees to unsafe levels of lead and cadmium while they dismantled cathode ray tubes from older TVs, despite being cited …

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Collision in Outer Elbe, Germany

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Collision in Outer Elbe, Germany appeared first on Insurance Marine News.

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The Difference between an Insurance Agent and an Insurance Adjuster

Property Insurance Coverage Law

When your home is damaged, it’s natural for most homeowners to call their insurance agent. Your agent is usually the first person who comes to mind because they sold you the policy. But insurance agents don’t handle claims. That job belongs to an adjuster. It’s important for homeowners to understand the difference between an insurance … The post The Difference between an Insurance Agent and an Insurance Adjuster appeared first on Property Insurance Coverage Law Blog.

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Is Homeowners Insurance Required And Do I Really Need It?

Simply Insurance

Finding out you need to get home insurance coverage before you can close on your loan can be nerve wrecking.But it doesn't have to be:There are some very fast ways to get a home insurance quote. And depending on your specific situation, having homeowners isn't actually always required.

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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.

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Protecting Workers on the Roadways: The Use of Truck-Mounted Attenuators in the Fire and Emergency Services

CDC: Workers Compensation

Workers who respond to roadway emergencies, such as vehicle crashes, can face multiple hazards. Working at roadway incidents frequently exposes responders to potentially being struck by passing motor vehicle traffic leading to serious injury or death. These secondary crashes during responses to roadway incidents contribute to about 50 emergency responder fatalities and injuries annually.[1][2] Additionally, crashes during roadway incident responses can cause extensive property damage to agency e

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Hear from Injured Workers and Join Paradigm in Supporting Passion, Purpose, and Kids’ Chance at National Comp

AMAXX

Paradigm is back as a Gold Sponsor for the 2024 National Workers’ Compensation and Disability Conference , October 15-17, in Las Vegas. While visiting booth #927 on the convention floor, you’re invited to share your passion and purpose in our What’s Your Why?: Portraits of Purpose booth experience. An onsite artist will transform your reasons into one unifying illustration—and for every response, Paradigm will make a donation to Kids’ Chance of America on your behalf.

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Arctic emission control areas established at MEPC

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Arctic emission control areas established at MEPC appeared first on Insurance Marine News.

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People Moves: Coalition Appoints AIG’s Simonsen as European Head of Insurance

Insurance Journal

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, has appointed Tine Simonsen as the company’s head of Insurance for Continental Europe.

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Blog Post: Frequently Asked Questions on Complex Employment Issues for California Workers’ Compensation

LexisNexis

By Hon. Robert G. Rassp, Presiding Judge, WCAB Los Angeles, California Division of Workers’ Compensation Disclaimer: The material and any opinions contained in this article are solely those of the authors and are not the opinions of the Department of Industrial Relations, Division of Workers’ Compensation, or the WCAB, or any other entity or individual.

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Workers’ Comp Claims Audit: Initial Action Plan Checklist

AMAXX

Claims audits and reviews are one of the most commonly used tactics by companies to control workers’ compensation costs. In fact, according to the RIMS 2009 Annual Benchmark Survey, 90% of companies had conducted a claim audit or review of at least some of their claims within the previous six months. These audits ensure that each claim is handled efficiently and in compliance with state regulations while also identifying areas for cost containment.

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The Importance of Regular Policy Reviews for Life Insurance

Boyle Agency Insurance

Life insurance is a crucial financial tool that provides protection for you and your loved ones. However, as life unfolds, your insurance needs may change due to significant life events. Regular policy reviews are vital to ensure your life insurance coverage remains relevant and adequate throughout life’s various milestones. Life Event: Marriage Marriage marks a significant life event where you share financial responsibilities with your spouse.

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Auto Insurers Face Rising Repair Costs, EV and Tech Complexity in 2025: Report

Insurance Journal

Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to CCC Intelligent Solutions Inc.

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Staying Vigilant Amidst the Chaos of Natural Disaster 

Cowbell

Natural disasters like hurricanes, floods, and wildfires bring with them a wave of destruction, displacing communities, disrupting lives, and creating widespread confusion. Unfortunately, this chaos also presents an opportunity for cybercriminals to strike. Bad actors take advantage of the emotional, physical, and digital vulnerabilities that often arise during these crises, preying on victims who are more likely to let their guard down in the rush to seek information or assistance.

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2 Major Types of Transitional Duty in Workers’ Compensation

AMAXX

In the world of workers’ compensation, one of the most powerful strategies for managing costs while helping injured employees return to work is the implementation of a transitional duty (TD) program. Transitional duty allows employees to return to the workplace in a modified capacity while they continue to recover from their injuries. These programs offer significant benefits, not only by speeding up recovery but also by minimizing the financial impact of workers’ compensation claims

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How Climate Change is Shaping Insurance Policies for Commercial Properties

Protect Commercial Insurance

Introduction Climate change isn’t just an environmental buzzword; it’s rapidly becoming a pivotal factor in the world of insurance, especially for commercial properties. As we face more frequent and intense extreme weather events, insurers are re-evaluating their policies to better manage these growing risks. Businesses now need to consider how climate change might impact their insurance premiums and coverage.

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Why Homeowners Insurers Are Unprofitable and What To Do About It: Aon

Insurance Journal

A new report from insurance broker Aon reveals that the prospective return on equity (ROE) for diversified homeowners insurance carriers decreased by 100 basis points to 5.0% from last year’s ROE, despite carriers receiving significant rate increases in 2023/2024.

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Cruise lines change calendars for repositioning cruises in late 2024 and late 2025

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Cruise lines change calendars for repositioning cruises in late 2024 and late 2025 appeared first on Insurance Marine News.

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