Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Insurers Respond to Rising Claims Abuse
Aug 7 2017 // Whenever severe weather strikes and there is property damage, insurers are among the first responders to help throughout the recovery process. However, in too many cases, some shady contractors, public adjusters and...
Several States See Drop in Opioid-Related Workers’ Compensation Claims: WCRI
Aug 4 2017 // As states institute opioid policies to address the opioid epidemic, a new study has found considerable decreases in the prevalence of longer-term dispensing of opioids to injured workers in a number of states studied. The...
AIG Discloses It Could Face Claims from London’s Grenfell Tower Fire
Aug 4 2017 // American International Group Inc., the provider of commercial insurance, told regulators it could face claims costs from the Grenfell Tower fire that killed dozens of people in June in London. “Our net exposure to...
Chubb’s Claims Team Taps Scheidegger, Latter from Zurich; Promotes Smith
Aug 4 2017 // Chubb announced the appointment of three new positions within its regional claims team. Marc Scheidegger has been appointed as claims director, Continental Europe, and will be based in Paris. With 22 years of experience in...
Allstate Doubles Q2 Profit
Aug 2 2017 // Allstate saw its profit more than double thanks to increased premiums, strong investment results and lower auto insurance claims frequency. Net income was $550 million for the second quarter of 2017 compared to $242...
New Jersey’s Vanguard Hires Graf as Vice President of Operations
Aug 2 2017 // Vanguard Claims Administration Inc. (Vanguard), a Woodbury, N.J.-based insurance agency, has hired Paul J. Graf as vice president of operations. With more than 27 years of multi-line claims management experience in the...
Former Postal Worker Sentenced in Texas for Federal Workers’ Comp Fraud
Aug 1 2017 // A U.S. district judge in Texas has sentenced a former postal employee to 21 months in federal prison for participating in a scheme to defraud the Department of Labor’s (DOL) Office of Worker’s Compensation...
Turkey’s Insurers Gear Up for Spate of Claims After 2nd Major Storm in 10 Days
Jul 28 2017 // The Borsa Istanbul Insurance Sector Index dropped as much as 2.5 percent on Friday after a brief but ferocious storm in Istanbul on Thursday showered the city with hail as large as golf balls, shattering windows, denting...
Allianz Q2 Profit Rises 23% on Restructuring, Fewer Disaster Claims
Jul 27 2017 // As Allianz SE Chief Executive Officer Oliver Baete slims down the insurer to cut costs, rising second-quarter profit helped by lower natural disaster claims rewarded his strategy. Operating profit jumped 23 percent to 2.9...
Team Work Ready Execs Sentenced in Federal Workers’ Comp Fraud Scheme
Jul 25 2017 // Two officials with Team Work Ready (TWR), with chiropractic and physical therapy clinics in Texas and Louisiana, have been sentenced for defrauding the federal Office of Workers’ Compensation Programs and United...
Insurers Pummeled by Car Dealers’ Claims for Hail-Damaged Vehicles
Jul 24 2017 // A hailstorm that pounded down on a Subaru dealership in Plano, Texas, barely lasted 30 minutes, but left behind a trail of smashed windows, dented hoods and millions of dollars’ worth of claims for an insurer to...
Deutsche Bank ($77M), JPMorgan ($71M) to Settle Libor Claims in U.S.
Jul 24 2017 // Deutsche Bank AG and JPMorgan Chase & Co. have agreed to pay a combined $148 million to end private U.S. antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor...
How Surplus Lines Insurers Can Beat Illinois Bad Faith Claims
Jul 24 2017 // Surplus lines insurers, your Illinois policies are exempt from all statutory bad faith claims. Or at least they’re arguably exempt. But whether arguable or actual, you should be moving to dismiss these claims at the...
Insurers Say Legal Malpractice Claims Hold Steady But Defense Costs Rise
Jul 24 2017 // Most leading legal malpractice insurers saw claims level off in 2016 although their cost to defend claims continued to escalate. A study by insurance broker Ames & Gough finds while the number of malpractice claims...
Privacy Is New Hot Workplace Issue for EPLI Claims
Jul 24 2017 // About 40 percent of employment practices liability policies (EPLI) that I review fail to cover allegations of employment-related breach of privacy. These range from complaints that the employer failed to protect sensitive...
Minnesota Fines 2 Insurers for Refusing to Pay Auto Accident Claims
Jul 21 2017 // Minnesota Commerce Commissioner Mike Rothman has fined two insurance companies for violating state consumer protection laws by refusing to pay auto accident claims for damage caused by drivers they insured. In recent...
Fired OSHA Whistleblower Claims Investigator Turns Whistleblower
Jul 21 2017 // A fired U.S. whistleblower investigator says his old employer didn’t take whistleblowers seriously enough. So he’s lodging a complaint — with the same ex-employer he claims doesn’t take...
Insurance Claims from G20 Riots in Germany Could Hit $13.8 Million
Jul 19 2017 // A group representing German insurers says the rioting that accompanied the Group of 20 summit earlier this month could cost insurance companies up to 12 million euros ($13.8 million). Host city Hamburg saw three nights of...
Florida Insurers Place All Options on Table to Address AOB Abuse
Jul 19 2017 // Florida’s home insurers hope the public doesn’t blame them as they implement rate increases, initiate coverage changes and nonrenew policies. They say they have no choice after the Florida Legislature for the...
Natural Disaster Claims Drop 40% to $19.5B in 1st Half of 2017: Munich Re
Jul 18 2017 // Insurers paid out around $19.5 billion for natural disaster claims in the first half of 2017, almost 40 percent less than the year-earlier payout of $32 billion, reinsurer Munich Re said on Tuesday. In addition, some $21.5...
