Claims and Costs News

Missouri Regulators Assisting Ferguson Businesses with Property Claims

Representatives from the Missouri Department of Insurance headed to Ferguson on Aug. 27 to assist businesses that experienced damage during recent protests with filing insurance claims and to answer questions about the claims process. The department said it is encouraging …

Insurer Catastrophe Claim Payouts Nearly $25B This Year

There are still three months left in 2011, and hurricane season is not over until November 30, yet this year will go down as record-setting when it comes to federal disaster declarations, according to the Insurance Information Institute (I.I.I.). “The …

Insurers Could Pay $2B for Joplin, Mo. Tornado

Insurance companies already have paid out more than $500 million in claims for the May 22 tornado that struck Joplin, Missouri. But the final total could grow to three or four times that amount. The state insurance department said on …

BuildFax Teams With Equifax to Deliver Property History Data to Insurance Sector

BuildFax, a commercial and residential permitting database in the United States, has joined forces with Equifax Inc. to provide property & casualty insurance carriers a view of underwriting risks while uncovering changes to their portfolio since policy inception.   Equifax …

Engle Martin & Associates, Inc. Launches National Specialty Loss Group

Engle Martin & Associates, Inc., a national loss adjusting and claims management firm, has launched Specialty Loss Group (SLG), dedicated to managing high-value, complex losses from a variety of commercial and industrial business segments. The SLG is comprised of Engle Martin’s nationwide team of executive …

A Third of Large U.S. Firms Disrupted From Japan Disaster

More than a quarter of large U.S. based businesses are experiencing disruptions to their supply chains or contingent business interruptions as a result of the March earthquake in Japan, says a new report. A new Greenwich Market Pulse study says …

Oil Spill Claims Paid Total $3.8 Billion

The Gulf Coast Claims Facility, created to compensate people and businesses for damages related to BP Plc’s Gulf of Mexico oil spill, has paid $3.8 billion in claims since the organization took over the process from the oil company on …

Essentials: Vigilance Guards Against Short Fuse, Third-Party, Bad Faith Set-Ups

The claimant’s attorney forwards a policy limits demand to your insurance company with a short fuse deadline. The insurer has little time to react or assess the demand’s reasonableness. The demand may come before there has been adequate time for …

Texas Regulators Settle Race-Based Discriminatory Pricing Case

The Texas Department of Insurance has reached a settlement with Texas Imperial Life Insurance Company to secure additional benefits to African-American consumers who were historically sold various types of insurance policies at higher rates than policies sold to whites. The …

Japan Nuclear Crisis to Trigger Huge Civil Damage Claims

Japan’s nuclear crisis is likely to lead to one of the country’s largest and most complex ever set of claims for civil damages, handing a huge bill to the fiscally strained government and debt-laden plant operator, Tokyo Electric Power Co. …