Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Flood Claims Mount; FEMA Extends Insurance Renewal Period for Some in Louisiana
Aug 23 2016 // Due to the damage and displacement caused by recent flooding, the Federal Emergency Management Agency (FEMA) has extended to 120 days the grace period to renew flood insurance policies in certain Louisiana parishes. The...
Soft Prices May Bring Reinsurer Losses when Typical Cat Levels Return: Execs
Aug 23 2016 // It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could...
FEMA Claims Mississippi Misused $30M in Funds to Retrofit Homes After Katrina
Aug 23 2016 // The Federal Emergency Management Agency says it won’t repay Mississippi for nearly $30 million spent to retrofit homes after Hurricane Katrina unless the state can prove the money was well spent. The state failed to...
Failure of Uber Settlement Opens Door for Wage Claims
Aug 22 2016 // The rejection of a $100 million settlement with drivers comes with plenty of silver linings for Uber Technologies Inc. The gray cloud for the ride-hailing company is that a dozen or so lawsuits that would have been...
Judge Nixes $100M Driver Settlement But Uber May Win in End
Aug 19 2016 // Uber Technologies Inc. may come out ahead by failing to win court approval of a $100 million settlement with drivers. A San Francisco federal judge rejected the agreement on Thursday, a turn of events that would typically...
Debt Collectors Cleared to Avoid Liability by Buying Out Claims
Aug 18 2016 // Can a debt collector accused of crossing the line avoid liability by buying a consumer’s legal claim out from under her? A federal judge in Las Vegas said yes. The case deserves attention because if the U.S. Court of...
Reinsurers May Reassess Cat Exposures When Normal Claims Levels Return: S&P
Aug 17 2016 // Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns...
Florida-Based UPC Insurance Appoints St. John as Chief Claims Officer
Aug 16 2016 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, appointed Scott St. John as its chief claims officer effective August 22, 2016. St. John will be responsible for directing...
Florida Homeowners Insurer Olympus Adds Newby as VP of Claims
Aug 15 2016 // Olympus Insurance Co., a Florida homeowners insurer, has appointed Martin Newby as vice president of Claims. Newby will serve as Olympus’ senior claims executive responsible for the development, implementation,...
FBD Shares Surge on Reduced Losses, 2017 Profit Forecast
Aug 12 2016 // FBD Holdings Plc shares surged the most in almost eight years after the insurer posted a smaller first-half loss and said it’s on track to making a profit next year. FBD shares rose as much as 12 percent, their...
Munich Re Q2 Profits Beat Expectations, Aid Claims and Restructuring Costs
Aug 9 2016 // Munich Re, the world’s second-biggest reinsurer, reported second-quarter profit that beat analysts’ expectations as gains from currencies and investments cushioned higher claims from natural disasters and...
Brazilian Corruption Probes Lead to D&O Market Boom
Aug 8 2016 // Insurers who sell policies limiting executives’ liability from lawsuits have seen a surge in business thanks to a sprawling Brazilian corruption probe involving state-controlled Petroleo Brasileiro SA and a rash of...
Homeowner Insurance Claim Severity Up 7% Due to Lightning in 2015
Aug 8 2016 // The number of homeowners insurance claims from lightning strikes in the United States fell in 2015. However, the total insurers paid on those claims rose by nearly 7 percent, according to the Insurance Information...
Citizens Implements Review Program for Florida Water Loss Claims
Aug 8 2016 // Florida’s insurer of last resort, Citizens, has expanded its efforts to curb increasing water loss claims with a new Water Mitigation Estimate Review Program. Citizens Chief Claims Officer Jay Adams said the new...
Allianz Q2 Profit Drops 46% on Nat Cat Claims, Expected Sale of South Korea Unit
Aug 5 2016 // Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income...
New York AG Charges Engineering Firm with Doctoring Sandy Claims Reports
Aug 2 2016 // New York authorities charged a Long Island engineering firm and one of its former executives with forging damage reports for homes swamped by Hurricane Sandy, altering the documents in such a way that owners’ flood...
Sports-Related Brain Injuries Are Emerging Risk for US & UK Insurers: S&P Report
Aug 1 2016 // Sports-related brain injuries are one of the top emerging insurance claims in the U.S. and the U.K., according to a report published by S&P Global Ratings. While the potential risk of such liability claims is rising...
CastlePoint National Conserved by California Regulator to Protect Policyholders
Jul 29 2016 // CastlePoint National Insurance Co., the sole remaining carrier member of the Tower Group, was placed into conservation on Thursday by order of the San Francisco Superior Court to protect policyholders and injured workers...
Swiss Re Q2 Profit Drops on Higher Natural Catastrophe Losses
Jul 29 2016 // Swiss Re AG, the world’s biggest reinsurer, said profit fell in the second-quarter as the company paid more for catastrophe claims including earthquakes in Japan and forest fires in Canada. Net income declined to...
West Virginia Funeral Home Ordered to Reimburse Insurer for False Death Claims
Jul 27 2016 // A federal judge has ruled for an insurance company in its case against the operators of a funeral home in Putnam County, West Virginia, accused of filing false death claims on behalf of pre-need contract customers who...
