insurance claims News

Dogs are No. 1 at Causing Insurance Claims, but Bedbugs a Growing Menace

Dogs remain the undisputed champions at generating insurance claims, deer, birds and cats are doing their amount of mayhem as well, and bedbugs are a growing liability for insurers, according to a review of 470,000 insurance claims over five years …

Power Lines Blamed for Sparking 2 Northern California Wildfires Last Year

Power lines buffeted by heavy winds ignited at least two small fires the night of Oct. 8 in Northern California neighborhoods, according to investigators. The findings by the Santa Rosa Fire Department are the first public reports into what caused …

P&C Insurance Claims Transformation in 2017 – Retrospective and Prospective

Insurance carriers have made an unprecedented investment to improve the integrity of their claims systems and processes. This transformation started in the US over 15 years ago with the original goal of improving financial accuracy, financial control, upgrading legacy technology …

Change in Irma’s Course Reduced Economic Loss by $150B

Twenty miles may have made a $150 billion difference. Estimates for the damage Hurricane Irma would inflict on Florida kept mounting as it made its devastating sweep across the Caribbean. It was poised to be the costliest U.S. storm on …

Fewer Ladders, More Drones Being Used to Adjust Harvey Claims

Insurance adjusters are bringing more drones with them than ever before as they head to Texas to assess the damage from Harvey. Companies are using the drones on a much larger scale to record images, save time and spare human …

South Carolina County Reports 18K Claims Filed After Hurricane Matthew

Insurance companies have closed 87 percent of the 18,193 insurance claims filed in Beaufort County in the aftermath of Hurricane Matthew, resulting in a payout of more than $159.3 million. News outlets report that South Carolina Department of Insurance Director …

Tennessee Wildfires Cause $842M in Insurance Claims

State officials say insurance claims have topped $842 million in the deadly eastern Tennessee wildfires that burned thousands of buildings. The Tennessee Department of Commerce and Insurance provided the number to the Knoxville News Sentinel. The department says as of …

AC Malfunction at Pennsylvania Hospital Cost $13.5M in Damages

Officials at a Pennsylvania hospital say a July air conditioning malfunction that pumped humid air into operating rooms cost the hospital an estimated $13.5 million in damages. LNP newspaper reports that figure doesn’t include the price to repair the failed …

Best Practices for Valuing Fine Porcelain

A vase can be worth under .50 cents or over $50 million These days just about every household has some sort of porcelain, whether it’s as a collectible, dinnerware or holiday ornament. And it is one of the most intriguing …

Kentucky School Districts Getting Bills to Offset Insurance Claims

Some school districts have started getting bills over the past couple of weeks to help offset insurance claims against the failed Kentucky School Boards Insurance Trust. The trust announced last year that it would disband due to financial woes and …