Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
London Broker Sees Some Libya Claims, but Situation is Unclear
Mar 23 2011 // London-based Lloyd’s insurance and reinsurance broker United Insurance Brokers (UIB) has indicated that there may be some insurance exposure as a result of the unrest in Libya, and the decision by the UN to sanction...
Texas Lawmakers Roll Out Plans to Reform Wind Pool
Mar 21 2011 // Two lawmakers have introduced separate but similar bills aimed at reforming the troubled state-backed wind risk insurer for property along the Texas coast. At a packed hearing on Mar. 15, Texas House of Representaives...
The Funnel of Agency E&O Claims
Mar 21 2011 // This industry is filled with confusing and often contradictory recommendations regarding how to avoid E&O claims. This is frustrating for me, so I know it is frustrating for agents. I believe the source of the...
Swiss Re Estimates Japan Earthquake, Tsunami Claims at $1.2 Billion
Mar 21 2011 // Swiss Re has released a preliminary estimate of its claims costs, net of retrocession and before tax, from the earthquake and the tsunami in Japan of $1.2 billion. The reinsurer cautioned that these “estimates are...
Regulators Take Over TWIA; Reform Bill Filed
Mar 21 2011 // Management of the Texas Windstorm Insurance Association was taken over by the Texas Department of Insurance in late February as lawmakers and regulators criticized the association’s adminstrative functionality and...
No-Fault Claims Top New York Insurance Fraud List
Mar 15 2011 // Almost nine in 10 suspected health care fraud cases in New York last year came from no-fault auto injury claims, a cottage industry so rife with abuse that the state Insurance Department wants to tighten...
American Claims Management Announces New Business Relationship With Sparta
Mar 14 2011 // San Diego, CA, 3/14/11 – American Claims Management, Inc. (ACM) announced a new business relationship with SPARTA Insurance. Effective March 1, 2011, ACM began handling workers’ compensation claims for policies...
Report Calls Into Question Use of Addictive Narcotics in Workers’ Comp Claims
Mar 11 2011 // A relatively small percentage of medical providers are responsible for writing narcotic prescriptions in California workers’ compensation claims, according to a new report by the California Workers’...
BP Oil Spill Claims Chief Feinberg to Face Florida Lawmakers
Mar 10 2011 // The man in charge of paying BP claims for the Gulf oil spill will soon face a Florida legislative committee to answer questions about how the compensation scheme is going. Kenneth Feinberg, the lawyer who is overseeing the...
Damage Claims Threaten Munich Re’s 2011 Profit Goal
Mar 10 2011 // Heavy damage claims from an earthquake, floods and a storm this year will put Munich Re’s full-year profit goal at risk if claims do not subside in the coming quarters. The world’s biggest reinsurer said it...
Has Time Come to Cap Whistleblower Awards?
Mar 8 2011 // Corporate whistleblowers are getting bigger and bigger payouts for reporting fraud, sparking a fresh debate about whether the rewards are justified. Whistleblowers have collected billions of dollars since the late 1980s by...
United Heartland Names Ische Director of Claim Strategy; Zubek Director of Field Claims
Mar 8 2011 // New Berlin, Wis.-based United Heartland has promoted Jane Ische to director of Claim Strategy and Lee Zubek to director of Field Claims. Ische has served in a variety of positions with United Heartland during the past 15...
E&O Insights: Common Auto, Homeowners Errors
Mar 7 2011 // An Estimated 30% of All Agency E&O Claims Arise from Handling Auto and Homeowners Business When dissecting Errors & Omissions claims frequency, it is apparent there is real E&O exposure for agencies writing...
Few Taking Final Offers to Settle Oil Spill Claims
Mar 3 2011 // Records show that in the last two weeks more than 8,100 people and businesses have been offered final payments from BP’s oil spill compensation fund, but few have accepted so far. Gulf Coast Claims Facility data show...
Tennessee Sets Deadline for Claims Against 3 Shuttered Insurers
Mar 3 2011 // A Tennessee judge has set May 16 as the final date to resolve all outstanding claims against three insolvent risk retention groups that were closed in 2003 after the failure of their Virginia reinsurer, Reciprocal of...
Stempel to Manage New Crawford Office in Panama
Mar 3 2011 // Crawford & Company announced that it has established an office in Panama City, Panama, and named insurance executive Miguel Stempel as its manager of operations in the country, in order to “serve a growing...
San Francisco Agency Looks to Settle Crash Claims for $1 Million
Mar 2 2011 // The San Francisco Municipal Transportation Agency will consider settling nearly $1 million in claims from 12 passengers injured in a July 2009 light-rail crash. The San Francisco Chronicle reported that Muni’s board...
Swiss Re Estimates Christchurch Quake Claims at App. $800 Million
Mar 2 2011 // Swiss Re has announced that, based on current information, it provisionally estimates its claims cost from the earthquake in New Zealand on February 22nd to be approximately $800 million, net of retrocession and before...
Texas Regulators Move to Take Over Windstorm Insurance Association
Feb 28 2011 // The Texas Department of Insurance has informed the director of the state’s property insurance company of last resort for wind in the state’s coastal counties that it is placing the organization under...
New Mexico Fraud Bill Would Allow Judges to Aggregate Claims
Feb 28 2011 // The New Mexico Senate has passed a bill giving judges authority to aggregate the dollar amount of false insurance claims to determine the penalty before sentencing a fraudster. Judges can impose harsher sentences by...
