Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Swiss Re Estimates Aggregate Claims for Hurricanes Charley and Frances to be Under $300 million
Sep 8 2004 // Swiss Re announced that based on current estimates, it expects that its aggregate claims related to the hurricanes Charley and Frances will be under $300 million before tax. The reinsurer’s estimate on Hurricane...
New Laws Clarify Guaranty Fund Obligations
Sep 6 2004 // Policyholders in insurer-funded programs were concerned that they might have to pay twice—some had originally posted large amounts of collateral and were now being requested to pay again. On June 28, 2004, Pennsylvania...
PIFC REPORTS MEMBER COMPANY CLAIMS FILED FROM SHASTA FIRES:
Sep 6 2004 // The Personal Insurance Federation of California (PIFC), an insurance trade association representing insurers that write approximately 50 percent of insured homes in California, reported on the losses being handled by its...
PCI: Frances Will Bring More Claims But Lower Severity
Sep 6 2004 // Preliminary reports from insurers indicate that Hurricane Frances will produce significantly more claims than Hurricane Charley, but the average claim will not be as high, according to Des Plaines, Ill.-based Property...
Dual Hurricanes Will Challenge Claims Handling Process
Sep 3 2004 // The historic one-two punch of Hurricanes Frances and Charley will make the claims handling process in Florida more difficult, but still manageable, according to the Insurance Information Institute (I.I.I.) The I.I.I....
PIFC Updates Member Co. Claims from Shasta Fires
Sep 1 2004 // The Personal Insurance Federation of California (PIFC), an insurance trade association representing insurers that write approximately 50 percent of insured homes in California, reported on the losses being handled by its...
Commerce Insurance Claims It Fears Liability, Not Competition, If Mass. Auto Changes Adopted
Aug 26 2004 // The leading writer of auto insurance in Massachusetts says it opposes the changes to the state’s residual market not because it fears competition or dislikes the assigned risk plan concept but because it fears...
Safeco Estimates Losses From Hurricane Charley
Aug 25 2004 // Seattle-based Safeco announced that claims stemming from Hurricane Charley are estimated at $45 million in pretax catastrophe losses. This figure represents the estimated losses both from claims received through Aug. 24,...
Right This Way! Hotels Make Room for Risk Management
Aug 23 2004 // In the months after the Sept. 11 terrorist attacks, the U.S. hospitality industry took a one-two punch. Travel and tourism plummeted as worried Americans canceled vacation plans and cautious businesses cut back on trips....
Big Hammer, Small Nail
Aug 23 2004 // Some contractors are forgoing coverage altogether and sometimes find themselves shut down by state investigators enforcing rules on proper insurance protection. Small contractors struggling with workers’ compensation...
GEORGIA COMM. REPORTS 43,000 RESIDENTS HELPED TO DATE IN 2004; $7.9 MILLION IN CLAIMS RECOVERED:
Aug 23 2004 // In the first half of 2004, Georgia Insurance Commissioner John Oxendine’s Consumer Services Division helped more than 43,000 Georgia residents settle disputes with their insurance companies, returning $7,900,840 in...
The Ins and Outs of Errors and Omissions Insurance
Aug 23 2004 // Almost all agents have clients with errors and omissions (E&O) exposure and the most difficult job the agent may have is convincing the client that they have the exposure. After 20 years of selling...
CALIF. SUPREME COURT ISSUES MAJOR RULING ON INSURER BAD-FAITH CLAIMS:
Aug 23 2004 // The California Supreme Court threw out a lower court ruling that had resulted in a multi-million dollar damage award against an insurance company. The Association of California Insurance Companies (ACIC) had filed an...
Fiduciary Liability: The Most Misunderstood of Management Exposures
Aug 23 2004 // In the early 1960s, life in the United States was lived at a slower pace. Transportation and communication required more time (and patience) and employees were more inclined to trust employers on issues relating to...
PIFC Reports Member Company Claims Filed from Shasta Fires
Aug 19 2004 // The Personal Insurance Federation of California (PIFC), an insurance trade association representing insurers that write approximately 50 percent of insured homes in California, reported on the losses being handled by its...
Fla. CFO, Insurance Executives See Charley’s Wrath During Tour of Storm-Damaged Areas
Aug 19 2004 // Punta Gorda – Florida’s Chief Financial Officer Tom Gallagher on Thursday took executives from several major insurance companies on aerial and ground tours of areas devastated by Hurricane Charley. Gallagher...
Schifrin, Gagnon & Dickey, Inc. Announces Steve Tilghman to Join Senior Management Team
Aug 19 2004 // We are excited to announce that Steve Tilghman has joined the Senior Management team at Schifrin, Gagnon & Dickey. Steve brings over thirty three years of adjusting, claims consulting and management experience in the...
GAINSCO Reports Q2 Results
Aug 16 2004 // GAINSCO Inc., headquartered in Dallas, reported net income for the second quarter 2004 of approximately $1.0 million. After the accretion of the discount on the redeemable preferred stock of approximately $0.8 million and...
21st Century Tallies Claims From Charley
Aug 16 2004 // Florida-based 21st Century Holding Co. has reported losses for Hurricane Charley. Edward (Ted) Lawson, president & chairman of the Board, commented about Federated National Insurance Company, a subsidiary of 21st...
Fla. CFO Activates System to Expedite Payment of Claims Following Charley
Aug 13 2004 // As local, state and federal officials and volunteer organizations prepare to assist residents affected by Hurricane Charley, the Department of Financial Services is gearing up to quickly help thousands of Floridians who...
