Claims and Costs News

Gatlinburg, Tenn. Wildfire Hits Home With Adjuster Born and Raised in the Area

Residents and tourists were unprepared for a devastating wildfire that whipped through Gatlinburg, Tenn., last fall. Winds topping 87 miles per hour fanned the flames that began in the Smoky Mountains and quickly spread through the mountain town, destroying homes …

Commentary: Technology Will Save the Insurance Industry, Not Mergers

Insurance companies are running out of ideas. They’ve bolstered their balance sheets since the financial crisis but have few racy growth prospects in a world of low interest rates, pricing pressure and regulatory hassles. Big mergers may be the most …

‘Personal Comfort Doctrine’ Applies to Allow Pennsylvania Amputee’s Workers’ Comp Claim

A Pittsburgh Airport ramp agent, who sustained a serious leg injury that required amputation, should receive workers’ compensation for her injury despite an insurer’s argument that the injury didn’t happen while she was on duty, according to an opinion issued …

Progressive’s Flo to Help Gain Customers as Distracted Drivers Lead to ‘Rate Shock’

Progressive Corp., the fourth-largest U.S. auto insurer, boosted spending on marketing this year to win customers after scaling back in the second half of 2016 when increased costs from car accidents threatened the company’s profit goals. “We’re excited to be …

World Bank Reports That Natural Disasters Cost $520B a Year

Global natural disasters cost $520 billion of consumption loss annually, 60 percent larger than asset losses that are commonly reported, the World Bank said in a report. The estimate is based on the impact of disasters such as floods, windstorms, …

State Farm Suffers $7B Auto Underwriting Loss, Profits Decline 94%

State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said annual profit fell 94 percent on car insurance claims costs. Net income dropped to $400 million from $6.2 billion in 2015, when results included one-time gains in the …

Illinois Considers Cap on Former Pro Athlete Workers’ Comp

Should injured pro athletes be allowed to earn worker compensation benefits until they are 67 years old, like other workers, even if their athletic careers normally would have ended more than 30 years earlier? That issue is being debated between …

Documenting Subrogation Loss Means Getting Lots of Photos

There are never enough photos when it comes to a subrogation claim, according to Cozen O’Connor subrogation attorneys Joseph Rich and Richard Maleski. During a firm webinar, Building a Better Subro Claim:  Best Ways for Adjusters to Help, the two …

The Case of the “Good” Grade Comics

Comic books first came to the US market in the 1930’s, though their history dates back to 18th century Japan. Since 1939, comic book collecting as a trend and in turn comic book values, have waxed and waned through the …

Liberty Mutual: Worst Workplace Injuries Cost U.S. Firms $59B Per Year

Workplace injuries and accidents that cause employees to miss six or more days of work cost U.S. employers $59.9 billion in 2014, the most recent year for which statistically valid injury data are available from the U.S. Bureau of Labor …