Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Berkshire Likely to Report Big Q3 Claims Costs – and Reduced Insurance ‘Float’
Nov 1 2017 // The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every...
Swiss Re Names Richards as Head Casualty Reinsurance; Parton as Head P/C Business Mgmt.
Nov 1 2017 // Swiss Re has appointed Jason Richards as head Casualty Reinsurance. At the same time, Nicola Parton was named head P/C Business Management, and James Shepherd was appointed head of L&H Business Management. Richards...
Insured Losses from California Wildfires Now at $3.3 Billion
Oct 31 2017 // The largest California insurers have so far reported more than $3.3 billion in insured losses from the October wildfire siege, now considered the most destructive fires in state history. Insurance Commissioner Dave Jones...
Key Metrics of New York Workers’ Comp System Tracked in New WCRI Study
Oct 31 2017 // The Workers Compensation Research Institute (WCRI) released a new tool for policymakers and system stakeholders to track the performance of the New York workers’ compensation system. “Originally established to...
HR Departments Often Ill-Equipped to Handle Sexual Harassment Claims: Viewpoint
Oct 30 2017 // In an ideal world, anyone who experiences harassment at work would head directly to the human resource department. That’s where a sensitive, well-trained professional would conduct an “immediate and...
Munich Re Expects Q3 Loss After Hurricane Claims of $3.2B
Oct 26 2017 // Munich Re expects claims of €2.7 billion ($3.2 billion) from Hurricanes Harvey, Irma and Maria, which will lead to a third quarter loss of €1.4 billion. The group said it expects a small profit for the full year, as...
Florida Insurance Agents Recount Hurricane Irma’s Personal Impact
Oct 26 2017 // It’s been just over a month since Hurricane Irma hit Florida, and it won’t be forgotten in Florida by anyone anytime soon, especially not by those in the insurance industry. The powerful storm made landfall...
Insurance Customers Slow to Adopt Mobile Claims Apps: J.D. Power
Oct 25 2017 // Despite a nationwide advertising blitz for mobile auto insurance apps and widespread use of digital channels to purchase insurance, U.S. auto insurance customers have been slow to adopt digital claims reporting, according...
Florida CFO Voices Concerns to FEMA Over Policy Management Vendor Transition
Oct 25 2017 // Florida’s Chief Financial Officer Jimmy Patronis is urging the Federal Emergency Management Agency to reconsider an upcoming vendor transition that he says could delay the processing of federal flood claims in...
Aon Benfield Names Siccardi as EMEA & UK Head of Client Services
Oct 24 2017 // Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has appointed Leonora Siccardi as EMEA & UK Head of Client Services. Based in London and reporting to Maggie Westdale, CFO of Aon Benfield,...
Georgia Reports $4.7M Recovered for Insurance Consumers So Far in 2017
Oct 24 2017 // The Georgia Department of Insurance’s Consumer Services Division answered more than 8,778 complaints and helped consumers receive $4,828,385 million in claims settlements through the first three quarters of 2017,...
Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire
Oct 23 2017 // Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries...
Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes
Oct 20 2017 // Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third...
GM to Pay States $120 Million to Settle Ignition Switch Claims
Oct 20 2017 // General Motors Co. has agreed to pay $120 million to resolve claims from 49 U.S. states and the District of Columbia over faulty ignition switches, state attorneys general and the company said on Thursday. The largest U.S....
Northern California Wildfires: Insurance Industry Ready to Assist With ‘Massive’ Recovery
Oct 20 2017 // Rebuilding the Northern California areas devastated by wildfire will be a long-term effort, and insurers say they will be there to help their affected policyholders get back on their feet. Tens of thousands of evacuees...
Zurich Estimates Claims of US$700M from Hurricanes Harvey, Irma & Maria
Oct 19 2017 // Zurich Insurance Group estimates that Hurricanes Harvey, Irma and Maria will aggregate claims in the third quarter of approximately US$700 million, net of reinsurance and before tax. After tax, the losses are expected to...
Mass. SJC Reverses Lower Court’s Decision in Legal Malpractice Suit
Oct 18 2017 // The Massachusetts Supreme Judicial Court has reversed a Superior Court decision in favor of a law firm in a legal malpractice suit. The plaintiff, Kiribati Seafood Company LLC, brought the legal malpractice claim against...
Compensation for London’s Grenfell Fire Victims May Be Capped at $5M: Reuters
Oct 18 2017 // The bill for compensating families of those who died in the Grenfell Tower fire in London may be as low as 4 million pounds ($5 million), according to several lawyers and a Reuters analysis of how damages laws apply in...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Oct 18 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed so far, according to Georgia Insurance Commissioner Ralph...
PEMCO in Washington Names Vigil to Executive Team, Barry as Vice President of Claims
Oct 17 2017 // Seattle, Wash.-based PEMCO Insurance has named M.J. Vigil to its executive team as the company’s new vice president of people and brand. PEMCO also named Paul Barry to its executive leadership team as vice president...
