claims News

Aon Claims Study Highlights in Reps & Warranties Transactions

A new study from Aon on Representations and Warranties in transactions shows that compliance with laws has grown to become the third most significant driver of loss, behind only financial statements and material contracts. Aon released its Global Transaction Solutions …

Bayer Calls Roundup Suits Existential Threat to Company, Farming

Bayer AG Chief Executive Officer Bill Anderson said the wave of lawsuits over its Roundup weedkiller is an “existential” threat to the company and farmers, ratcheting up the stakes as it considers a controversial legal maneuver. “The glyphosate litigation topic …

Viewpoint: How Liberty Specialty Markets Uses Tech for Claims Risk Management

Once perceived as intricate, time-consuming, and on occasion, frustrating, insurance claims processing has undergone a substantial transformation with the integration of new technological solutions. From artificial intelligence (AI) to big data and automation, the insurance industry is witnessing a rapid …

Florida’s 125% Surge in Property-Insurance Bills Sows Havoc

For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped adding up. So in March, she finally decided to …

Viewpoint: The Path to Greener Claims, Leaner Costs, and Reduced Repair Expenses

The increasing emphasis on incorporating sustainability initiatives to fight climate change and ensure a greener world for future generations has led many organizations across various industries to reevaluate their practices. These efforts are, in part, attributed to increasing consumer pressure …

CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024

Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the 7.7% average increase in Q1 compared to 7% …

NICB: Contractor Fraud Costs U.S. Residents Billions Yearly

With 28 separate natural disaster events costing at least $1 billion and totaling more than $93 billion in catastrophe losses, 2023 was a historic year for billion-dollar weather and climate disasters in the U.S. That’s a big enough figure. However, …

Potential Claims Impacts Resulting from the Francis Scott Key Bridge Collapse

How to handle complex ports and terminals business interruption insurance claims, marine and cargo damages, and marine stock claims are topics that have again come to the forefront of claims professionals’ minds following the tragic Francis Scott Key Bridge collapse …

Geopolitical Risks: Why Underwriters Are Watching Aggregations

Executive Summary: With instances of violent unrest rising across the globe in recent years, property all-risk insurance programs bore significant losses. One reason is that sublimits for strikes, riots and civil commotion included on the programs were occurrence sublimits. The …

Survey Shows Decrease in Core Risk Management Activities

Responses to an annual survey showed a decrease in risk management activities over the last year. Origami Risk published its 3rd annual State of Risk report. The survey polled 240 risk professionals from across the U.S. and Europe. It shows …