total loss News

What Does it Mean to ‘Total’ a Vehicle?

Nowhere is the difference between “knowing” something and “understanding” something more evident than when it comes to the relationship between “totaling a vehicle” for insurance purposes and the concept of salvage vehicles under state law. Everybody knows what it means …

Viewpoint: Riots Expose Serious Deficiencies in Property Insurance Policies

The riots that took place in the Minneapolis-St. Paul area during the George Floyd protests caused serious damage to many buildings. Several building owners, to their dismay, found their property insurance policies failed to properly respond to the debris removal …

Report: Improper Documentation a Frequent Reason for Claims Handling Citations

Claims errors continue to be the most frequent reason that property and casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a new report by Wolters Kluwer Compliance Solutions. Kathy Donovan, …

Body Shop Still Swinging After 3 Losses Against Insurers in Ohio Courts

A Columbus, Ohio auto body shop, for the third time, has lost an attempt to pocket money paid to it by an auto insurer for vehicle repairs that were never made. The 10th District of the Ohio Court of Appeals …

Insurers With Market Conduct Troubles Can Usually Blame Their Claims Shop

Mistakes by claims professionals were the most common reason for enforcement actions taken against U.S. property and casualty insurers in 2018, taking the No. 1 and No. 2 spot on a top ten list issued by the Wolters Kluwer consulting …

N.J. Court Prohibits Lawyer from Asking Client at Trial if Vehicle Totaled

A New Jersey Superior Court judge recently issued a written ruling, holding that, as a matter of first impression, it was inappropriate for a lawyer to question his client during trial as to whether his vehicle was “totaled” as a …

How Data & Analytics Are Helping Insurers With Flood-Damaged Vehicles After Florence

Initial estimates of the damage caused by Hurricane Florence are expected to total approximately $20 billion, as residents of the Carolinas and Virginia are faced with cleanup and recovery. The Carolinas experienced historic flood levels, according to Moody’s Analytics. Mark …

Wisconsin Residents Remember Flood 10 Years Later

Ten years ago, southern Wisconsin was a wet mess. Dams failed, roads washed out, basements filled, businesses were lost, levees were breached and farmland flooded. The most dramatic event happened the day before when Lake Delton drained into the Wisconsin …

NICB: Record Number of Vehicles Damaged by Recent Hurricanes

Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. Some 23,000 now await processing and retitling to be auctioned off for parts or to be scrapped. That is just one of several insurance industry salvage …

Buyer’s Market Brewing for Cars Deemed Total Losses After Hurricanes

The ink on the “total loss” insurance paperwork, like the 2007 Range Rover itself, was still wet when Morgan Moran began trying to buy his vehicle back after Hurricane Matthew last year. The insurance adjustor had declared the vehicle ruined …