Articles by Denise Johnson

Carriers Can Still Profit Despite Unpredictable Economy, Berkley Says

Partnership and greater efficiency will help lead the way to continued profitability despite a new level of uncertainty globally, according to Bill Berkley, executive chairman of the W.R. Berkley Corp. and keynote speaker at the American Association of Managing General …

Disaster Fraud Rampant After Floods, Hurricanes

This year, extensive flooding has already affected parts of Texas and Louisiana. With more rain producing floods in the forecast for the southern part of the U.S. this spring, the likelihood of disaster fraud increases. Disaster-related fraud affects auto, homeowners …

How Model for Preventing Workers’ Chronic Pain Claims Was Born

In response to rising chronic pain claims, Travelers announced the development of a new patent-pending predictive model designed to identify claims and workers most at risk. The company, which developed the Early Severity Predictor (ESP) program, manages more than 250,000 …

Some Senior Drivers Have Higher Crash Risk

Older drivers with a history of falling have a 40 percent higher risk of being involved in motor vehicle crashes. But despite this increased risk, drivers ages 40 – 80 still have a lower risk of being involved in a …

How Telematics Saves on Claims, Improves Customer Experience

Insurers that are not already using the data from their telematics programs for claims would be wise to do so early in their adoption of telematics as the task only becomes more difficult as more data is collected, according to …

3 Examples of How Telematics Can Aid Insurance Claims Handling

While information derived from usage based insurance telematics hasn’t been fully utilized in the claims process, the benefits it can provide – consistency, efficiency and accuracy – offer a way to reduce claims costs. David Lukens, LexisNexis director, says telematics …

Ohio High Court: Consumer Laws Don’t Apply to Insurer Repair Estimates

The Ohio Supreme Court has ruled that laws protecting consumers from deceptive practices don’t apply to insurance company repair estimates. In Dillon v. Farmers Ins. Of Columbus, Inc., the Court voted 5-2 to overturn a lower court ruling that said …

Crisis Services Top Insurers’ Cyber Claims Payouts; Average Claim at $674K

New claims costs data reveal a wide discrepancy on costs associated with cyber losses. More than $75.5 million has been spent on cyber claims losses as reported in the latest cyber claims study published by NetDiligence, a cyber risk assessment …

8 Ways Katrina Changed Commercial Property Insurance

Hurricane Katrina, which devastated New Orleans 10 years ago, is responsible for a number of changes in the commercial property insurance market. According to Rick Miller, U.S. property practice leader at Aon Risk Solutions, Katrina’s impact can be seen in …

Hurricane Katrina and the Evolution of Risk Management

Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses in the United States. Many of the lawsuits filed as a result of …