Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Lloyd’s Equitas Reports Fiscal Year Results
Jun 13 2003 // Equitas, the runoff vehicle established by Lloyd’s in 1996 to handle claims liabilities prior to 1992, principally asbestos and environmental claims, announced decreases in its reserves for the fiscal year ended 31...
Arkansas Gets Tough on Illegal Plans
Jun 9 2003 // Cracking down on a number of illegal benefits plans that have cropped up in his state, Arkansas Insurance Commissioner Mike Pickens revoked the licenses of four insurance agents who sold or were involved in the marketing...
TEXAS MOLD CLAIMS HIT $4 BILLION:
Jun 9 2003 // Texas insurance companies paid out around $4 billion for mold claims in the past three years. According to the Insurance Council of Texas, an insurance trade association, mold claims have represented a larger monetary loss...
Emerging Exposures Lead To New Coverage Issues
Jun 9 2003 // Coverage for technology torts—”techno-torts” or “cybertorts”—is limited under the standard general liability policy. “Coverage A” of the standard CGL form requires bodily injury or...
Lloyd’s Names Jeremy Pinchin to Head New Reinsurance & Claims Post
Jun 6 2003 // Lloyd’s of London’s Franchise Performance Director, Rolf Tolle, announced that Jeremy Pinchin, previously Special Counsel for September 11th claims, will head a newly created department of Reinsurance and...
Houston Law Firm Claims a Win in Battle Against Insurer
Jun 4 2003 // Houston-based Hicks Thomas & Lilienstern announced that a Harris County jury found in favor of the firm and awarded $150,000 in attorneys fees it incurred in a dispute with the firm’s insurance carrier, Valley...
N.Y. Holocaust Survivors to Receive $1.1 Million from ICHEIC
Jun 3 2003 // New York Department of Insurance Superintendent Gregory V. Serio announced that the state’s “Holocaust survivors will benefit from an initial payment of $1.1 million being allocated to four social service...
Baldwinsville, N.Y. Man Arrested for Making Fraudulent Property Claims
Jun 2 2003 // It was a busy week for the New York Insurance Department’s Fraud Squad. In addition to arresting three men charged in a motorcycle scam ring in the Bronx (see previous article), Superintendent Gregory V. Serio also...
Mold Claims Hit $4 Billion in Texas
May 27 2003 // Texas insurance companies have paid out just under $4 billion for mold claims in the past three years. According to the Insurance Council of Texas, an insurance trade association, mold claims have represented a larger...
Mo. Med Mal Data Show Court’s Caps Ruling Needs Reversal: Commish
May 14 2003 // Missouri Department of Insurance (MDI) Director Scott B. Lakin today said the state must act quickly to reverse a 2002 court ruling that has seriously disrupted Missouri’s medical malpractice market. Under the...
CalSurance Professional Liability Program for Real Estate Brokers Now Available Wholesale
May 9 2003 // CalSurance (www.calsurance.com), a national insurance sales, service and support organization, announced that the exclusive partnership it established last year with Arch Insurance Group to offer professional liability...
Regulators Take Steps to Liquidate Company Serving Ala. Hospitals
May 7 2003 // Virginia insurance regulators informed Alabama Insurance Commissioner Walter Bell recently that they are taking steps to liquidate a company that provides liability coverage to 46 Alabama hospitals. The Virginia insurance...
STORMS RACK UP $1.2B IN CLAIMS
May 5 2003 // U.S. property/casualty insurers are expected to pay an estimated $1.2 billion for insured property-loss claims from winter storms and windstorms that pummeled 10 states in early April, according to preliminary estimates by...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
Study Says D&O Liability Premiums Soar, Shareholder Claims Increase
May 5 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
VA’s SCC Temporarily Stops Payments on ROA Claims
May 1 2003 // Virginia’s State Corporation Commission announced that it has temporarily stopped the payment of certain claims by Reciprocal of America (ROA) – a Virginia-domiciled reciprocal that was placed into receivership...
Facts and Findings about Windshields
May 1 2003 // Windshields are the number one insurance claim in the United States. Thirty percent of auto insurance claims are windshields. Edge cracks account for approximately 70-80% of these windshield replacement claims. Edge cracks...
Tillinghast Study Says D&O Liability Premiums Skyrocket as Shareholder Claims Increase
Apr 28 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
ISO Says Insurers Will Pay $1.2B in Storm Claims in 10 States
Apr 25 2003 // U.S. property/casualty insurers are expected to pay policyholders an estimated $1.2 billion for insured property-loss claims from a winter storm and windstorm catastrophe that pummeled 10 states in early April, according...
