Claims & Reserving
AM Best Says Tower Hill ‘Rearranging the Furniture’; Faces Surplus, Capital Problems
The downgrade of one of Tower Hill's insurance companies by AM Best financial rating firm, announced the day that Hurricane Ian nosed into southwest Florida, has led to new speculation that Tower ...
Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance?
While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are now warning that the storm ...
Citizens’ Early Ian Loss Estimate $3.8B; Florida OIR Suspends Use and File
Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims ...
Insurers Should Be Ready for Global Average Disaster Losses of $123 Billion: Verisk
The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every year, according to the 2022 Global Modeled Catastrophe Losses Report ...
Phishing Triggered Majority of Cyber Claims in 2022 First Half: Coalition
Claims are down among Coalition policyholders in the first half of 2022, but small businesses became bigger targets and an organization's employees remain the easiest was for cyber criminals to ...
An Aerial View Into Reducing Claims Leakage
Claims can be a high-stress and high-stakes process for carriers and policyholders. Often called the "moment of truth," the claims process can dictate the moment when the client is secured for life ...
Viewpoint: ‘Take-Home COVID’ Claims May Lead to Future Insurance Disputes
"Take-home COVID" claims are claims brought against an employer by the spouse or child of an employee who caught COVID-19 in the workplace and brought it home, infecting a spouse or child and causing ...
Record-Breaking Pace for U.S. Product Recalls, Says Sedgwick
The number of U.S. products recalled this year already has surpassed 1 billion, according to the U.S. product recall index recently released by Sedgwick's brand protection division. Only two other ...