insurance claims News

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 …

Tennessee Counties Reported $563,000 in Unrecovered Cash Shortages

A Tennessee State Comptroller’s report has found that the amount of money stolen from Tennessee counties outpaced the amount recovered in fiscal year 2013. The Tennessean reports counties began the last fiscal year with more than $563,000 in unrecovered cash …

VFM Services Launches in Canada

VFM Services, a provider of insurance claims fraud screening techniques to UK insurers, launched it’s product, Conversation Management, in Canada. Its New ERA training program, accredited by the UK’s University of Portsmouth, delivers conversation management skills needed by investigators to …

Insurers Group Sounds Alarm Over Iran Ship Insurance

A group of insurers warned shipowners this week to be careful when signing deals to carry Iranian oil because the United States has not been able to clarify whether insurance claims will be paid after the suspension of sanctions ends …

Vehicle Vandalism Peaks on Halloween: HLDI

As Americans carve pumpkins and stock up on candy ahead of Halloween, they also might want to think about finding a secure place to park their cars. Personal vehicles are almost twice as likely to be vandalized on Oct. 31 …

Weather-Related Losses Remain Costliest in Global Power Generation Sector

While weather-related losses remain comparatively rare in the global power generation sector, research published by Marsh highlights that their financial impact is considerably higher than other operational loss events. The latest Marsh Risk Management Research report, Common Causes of Large …