Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Uber CEO Claims Venture Capital Lawsuit Against Him Should Go to Arbitration
Aug 17 2017 // Ex-Uber Technologies Inc. Chief Executive Officer Travis Kalanick said the lawsuit brought by venture-capital firm Benchmark seeking his ouster from the company’s board should be heard in private arbitration. In a...
Making the Adjustment
Aug 16 2017 // This post is part of a series sponsored by CoreLogic. The Modern Age of Desk Adjusting for the Insurance Industry Deploying adjusters to the field is a large overhead cost for insurance companies. Incoming claims vary in...
A Response to Some Insurtech Claims
Aug 16 2017 // There’s a popular word this year that I’m really tired of. It may not be bothering you so much, but I’ve read it so much that it’s become this year’s “it is what it is” for...
People
Aug 7 2017 // Ron Lockton, who has served as vice chairman of global insurance broker Lockton Inc. for the past two years as part of the succession plan, is expanding his role to become president and chief executive officer of the...
Minnesota Says American Family, Bristol West Refused to Pay 3rd Party Auto Claims
Aug 7 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...
How to Catch Commercial Auto Use Fraud
Aug 7 2017 // Pulling the wool over the insurance company’s eyes seems like a victimless crime. After all, if a few dollars are saved by saying a car is a personal vehicle instead of the commercial work truck it really is, who...
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...
