insurance claims News

U.S. Lawmaker Wants Insurers, Govt to Share Future Pandemic Business Losses

U.S. legislation introduced on Tuesday would create a taxpayer-backed insurance program to protect businesses from revenue losses during future pandemics and require insurers to pay a slice of the claims. The legislation, introduced by Rep. Carolyn Maloney, a Democrat from …

Virus Threatens to Unleash Lawsuits Against Global Business

The coronavirus has upended markets, disrupted supply chains and forced quarantines. It’s all fertile ground for lawsuits. Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can …

California Eyes Climate Bond to Prepare for Disasters

SACRAMENTO, Calif. — In a state burdened by billions of dollars in wildfire damage, California lawmakers are hoping for an advance loan before the next climate-fueled catastrophe hits. Lawmakers in the Democratic-dominated state Legislature return to work Monday for the …

Another Kentucky Farmer Admits Crop Insurance Fraud

LEXINGTON, Ky. — Another Central Kentucky farmer has pleaded guilty in a crop insurance fraud scheme that a federal prosecutor has called “pervasive and severe” in that region. Daniel Arvin pleaded guilty on Dec. 19 in federal court in Lexington …

Aging Holocaust Survivors Try to Sue Over Nazi-Era Insurance

AVENTURA, Fla. — When David Schaecter was a child in Slovakia in the 1930s, he counted more than 100 people in his extended family. By the end of World War II, he alone survived. The rest had been killed in …

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 …