Monthly Archives: <span>July 2020</span>

Washington Insurance Commissioner Wants to Ban Credit Scoring

Washington Insurance Commissioner Mike Kreidler is calling on the insurance industry to end its use of credit scoring in auto, property, renters and life insurance, citing the economic impact of the COVID-19 pandemic and the calls to end institutional racial …

Man Hospitalized After Fatal Las Vegas Fire Suing Building Owner

A 48-year-old man hospitalized since December after being injured in a downtown Las Vegas apartment fire that killed six people is the latest person to sue the building’s owner and others for negligence. Christian Spangler suffered “significant and severe” burns …

Florida’s Citizens Accuses Embattled Law Firm, Others of Sham Lawsuits, Racketeering

Florida’s state-run Citizens Property Insurance Corp. has joined a chorus of insurance companies accusing the Strems Law Firm of lawsuit abuse. Citizens says it has lost millions of dollars due to an alleged scheme of “sham” claims by the law …

Reported Surplus Lines Premium Again Sets Record in Texas

The amount of surplus lines premium reported in Texas continued its upward swing in May, coming in at nearly $100 million higher than reported in the same month last year, according to the Surplus Lines Stamping Office of Texas (SLTX). …

Houston Pharmacist Gets 10 Years in $21M Workers’ Comp Fraud Case

A Houston pharmacist has been sentenced to 10 years in prison in a $21 million workers’ compensation fraud case. George Philip Tompkins, 75, the self-proclaimed “Compound King” and former owner of Piney Point Pharmacy, and his wife, Marene Kathryn Tompkins, …

Car Crashes Became Deadlier During Lockdowns Across Globe

Coronavirus lockdowns led to reductions in traffic and fewer car crashes this spring, but as drivers sped up on quieter roads, the collisions became deadlier in several cities, a Reuters analysis shows. In New York City, the ratio of fatal …

My New Markets

Auto Physical Damage for Trucking Market Detail: Transportation Insurance Experts (www.tiexperts.com) has a new insurance offering to the trucking industry. Targeting auto physical damage targeting risks $1 million TIV and above for clean to average performing risks. Admitted paper available …

How to Reduce the Expense of cyber business interruption

According to the IBM “Cost of a Data Breach Report, 2019”, business interruption (BI) represents 36% of the cost of a cyber breach, averaging a whopping $1.42 million per breach. The report states that, for the last four years, lost …

Declarations

At Risk “Workers servicing or maintaining machines are at risk of serious injury, including amputations, if hazardous energy is not properly controlled.” — OSHA Marlton Area Office Director Paula Dixon-Roderick said in a U.S. Department of Labor press release announcing …

Coverage Creativity

This morning, I wrote an article for the CPCU CLEW (Coverage, Litigators, Educators & Witnesses) Interest Group called “On Becoming an Insurance Coverage Nerd.” This afternoon, in this column, I get to demonstrate one of the values of being a …