claims handling News

Using Data and Analytics in Workers’ Compensation

In the workers compensation space, not only have claim costs increased because of medical issues, but the landscape has also become much more complex. Along with the elevated incidence of fraud, economic fears, and a growing dependency on prescription drugs, …

Top 10 Market Conduct Complaints by Regulators Against P/C Insurers

Failure to handle claims within specified time frames and using unapproved forms and rates are the top two criticisms of property/casualty insurers by market conduct regulators, according to a new report. Waltham, Mass.-based Wolters Kluwer Financial Services reported its annual …

Florida Insurer Agrees to Settlement Relating to Underwriting, Claims Practices

Universal Property & Casualty Insurance Company, the second largest property insurer in Florida, has agreed to implement corrective action, including changes to its claims and underwriting practices, and pay an administrative fine to the Office of Insurance Regulation (Office) totaling …

Trend of Claims Outsourcing Driven by Finance Execs, New Managers

This is part two in a three part series on outsourcing claims handling. Just as insurers reduced their ranks of company field adjusters who were replaced by in-house or independent adjusters only to be embraced yet again, claims outsourcing is …

Michigan: Bulk of Insurance Complaints in 2012 Concerned Claims Handling

The Department of Insurance and Financial Services (DIFS) says consumers in 2012 filed more than 3,000 complaints against insurance companies doing business in Michigan. Complaints were filed against carriers writing accident and health, annuity, auto, homeowners, and life insurance policies. …

AIA Testifies on Sandy Claims Handling Process in New York

Gary Henning, Northeast region vice president for the American Insurance Association (AIA), testified about the industry’s response to Superstorm Sandy and the lessons learned at a hearing yesterday before the New York Assembly Standing Committee on Insurance. AIA’s testimony emphasized …

Commentary: Lessons From Recent Decisions on Bad Faith Litigation

A rising tide of first-party bad faith decisions is defining the contours of the bad faith cause of action. Recently, three courts have found first-party insurance companies liable for bad faith claims handling. However, there are also two recent bad …

How to Reduce Delays in Claims Handling

Too many people, too much delay — the claims process is burdened with system delay issues much of the time, say two industry experts. Insurers, themselves, may be to blame because some well-known carriers within the industry advertise warp speed …