The “2013 Property Claims Satisfaction Study,” published by J.D. Power and Associates, is based on more than 5,500 responses from homeowners insurance customers who filed a property claim between May 2011 and January 2013. The following insurance companies ranked highest …
25% The percentage increase in premiums for vacation and rental homes in the National Flood Insurance Program, effective Jan. 1. Properties that have suffered repeated losses or substantial damage over the years will also see a gradual 25 percent rate …
Conning’s 2012 liability trends study, “Liability and Tort Trends: Trouble Around the Corner?” found that many insurers with the poorest liability results tended to be those that were the most widely diversified. Excess and surplus (E&S) insurers were the best …
Residential appliance fires annually result in an estimated 9,600 fires, 25 deaths, 525 injuries and $211 million in property losses each year, according to the U.S. Fire Administration. A Consumer Reports study analyzed home fires occurring between 2002 and 2009 …
Texting while driving is considered a serious public safety concern, but a new University of Michigan study suggests that drivers might not be aware of their actions. U-M researchers found that texting while driving is predicted by a person’s level …
Disaster response is at the core of the claims professionals’ mission and purpose. It is in times of disaster when claims adjusters can mean the most to policyholders. As we approach the one year anniversary of one of the most …
Expert guidance and testimony play a central role in the late stages of legal proceedings, when experts provide reports and serve as witnesses concerning the substance of the case and the appropriate damages. In the hope of minimizing fees, many …
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 …
As a part of its effort to insure enactment of uniform insurance laws, the National Association of Insurance Commissioners (NAIC) drafted the Unfair Claims Settlement Practices Act which required specific insurance adjuster conduct and claims handling. The Model Act, which …
Many adjusters don’t have a clear understanding of what constitutes insurance bad faith. The tort of common law bad faith is an outgrowth of judicial concern that the insurance industry could employ improper economic motivation to delay or refuse to …