Remove Insurance Claim Remove Underwriter Remove Underwriting
article thumbnail

NC Insurers Warned on Flood Denials in Underwriting; NFIP Allows Monthly Premiums

Insurance Journal

North Carolina Insurance Commissioner Mike Causey is reminding property insurers to refrain from raising homeowners’ premiums just because an insured filed a claim or inquiry in order to qualify for flood insurance indemnity or federal assistance. In most cases, the …

Premium 264
article thumbnail

AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey

Insurance Journal

Howard A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary …

Claim 173
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Homeowners Insurance Underwriting Questions: What to Expect When Getting a Quote

TGS

TGS Insurance » Blog Homeowners Insurance Underwriting Questions: What to Expect When Getting a Quote So, you’re ready to take the plunge into homeowners insurance. Either way, there’s a step that often surprises people when they go to get a quote—the underwriting process. What were the reasons behind those claims?

article thumbnail

What is a Loss History Report?

TGS

This is where a loss history report comes inits like a propertys report card for past insurance claims. A loss history report provides a record of insurance claims filed on a property, typically over the past five to seven years. This report includes: Claim Details Dates of past claims, type of loss (e.g.,

article thumbnail

2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Persist

Triple-I: Business Insurance

The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. for 2022, up 1.2

article thumbnail

Common Mistakes to Avoid When Filing Commercial Insurance Claims

Paragon Independent Insurance Agencies

Before filing a claim, it’s crucial to clearly understand the policy’s terms, conditions, and exclusions. The insurance agents are there to break down all the details, from underwriting to filing claims. Our team covers the Plano, TX area. Get in touch with us today.

article thumbnail

RIMS TechRisk/RiskTech: Using Cyberrisk Analytics to Improve Your Cyber Insurance Program

Risk Management Monitor

Finally, it is important to provide robust underwriting data by using assessment tools to minimize the need for supplemental applications, preparing for additional questions from underwriters, and highlighting significant cybersecurity updates and improvements over the past year. and consider alternative terms and conditions.

Cyber 66