Property Claims News

10 Common EUO Questions Answered

Insurers often require an insured to attend an examination under oath – a formal proceeding where insurers ask questions about a loss that may affect coverage – related to first party property insurance claims. During a recent Combined Claims Conference …

J.D. Power: Good Communication Drives Property Claims Customer Satisfaction

Overall customer satisfaction among homeowners filing property insurance claims has reached a new all-time high, despite record-high property losses following a spate of hurricanes, earthquakes and fires in North America. That’s according to the J.D. Power 2018 U.S. Property Claims …

Biohazard Cleanups Not Pretty—and Neither Are the Costs to Insurers

If Peter Duncanson is on the scene, it’s probably not pretty. It could be a CSI-like crime scene with spattered blood and skin fragments on the sofa and wall. Or a trauma scene where an injured employee or animal traipsed …

Lexington Police Post Videos on Social Media to Solve Crimes

Hours after video showing a woman’s wallet being stolen at a store was posted on YouTube, the suspect came forward and was identified, Lexington police said. The video taken in February showed the woman leaving her wallet on the counter …

Fraud News Around the Nation

Former Washington High School Coach Pleads Guilty to Auto Glass Fraud Brad Burmester of Vancouver, Wash., pleaded guilty to first-degree felony theft in King County Superior Court. He will serve 100 hours of community service and pay $600 in court …

Hurricane Matthew Claims Offer Opportunity for Travelers to Ramp Up Drone Use

Earlier this month, The Travelers Companies, Inc., announced that it would be using drones to assist in assessing damage resulting from Hurricane Matthew. The insurer deployed a team of newly trained drone operators to inspect residential and commercial property damage …

Commercial Property: Inspecting Hard to Reach Areas Quickly and Inexpensively

There are times where an inspection will be necessary in the most unique or hard to reach places. In some cases, it is too difficult or time consuming to rent, transport, place and erect equipment that may or may not …

Property Replacement Costs on the Rise: Xactware

Replacement costs increased by more than five percent between April 2014 and 2015, said Greg Pyne, assistant vice president of Pricing Data Services at Xactware, a Verisk Insurance Solutions company. Pyne outlined the factors that influence reconstruction costs during a …

New Survey Highlights Opportunities for Improving Property Claims Vendor Usage

A new survey highlights opportunities for North American property/casualty insurers to better utilize property claims third party services. Commissioned by BrightClaim, a national claims services provider, and conducted by Ward Group, a provider of benchmarking and best practices studies to …

Contractors Need to Be Involved in the Claims Process, BELFOR CEO Says

Customer service in property claims suffers when the contractor is left out of the settlement process and policy renewals may be in jeopardy because of it. That’s the word from the top executive of one of the world’s largest disaster …