Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Munich Re Expects Coronavirus-Related Claims in Excess of $1 Billion During 2020
May 7 2020 // Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter...
Viewpoint: Insurance Denials, Proposed Legislation Raise Concerns
May 6 2020 // The arrival and spread of COVID-19 has had significant and far-reaching social and economic impacts upon individuals and businesses throughout the United States. In an effort to curtail the spread of the virus, local and...
Business Income, COVID-19, and Plaintiff Attorneys: They Keep Trying
May 6 2020 // “I think there was an attempt to dissuade the public from filing these claims and to shape the public opinion that this was not property damage,” said Steven C. Marks, managing partner at Miami-based Podhurst...
What to Expect in Workers’ Compensation Costs From COVID-19: NCCI
May 6 2020 // If only 10 percent of health care workers contract COVID-19 and all of their claims are deemed compensable, workers’ compensation loss costs for that sector could double or even triple in some states, according to an...
Transparency Is Key for Insurance Agents Handling Coronavirus Claims
May 6 2020 // Business interruption insurance has been a much-debated topic during the coronavirus crisis, with some businesses already pushing back against virus-related claim denials. In several cities, groups of businesses have filed...
Insurers’ Loss Estimates Linked to Coronavirus Range Widely: Analysis
May 5 2020 // Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment...
Nursing Home Insurance Market In Need of Care
May 4 2020 // Nursing homes are right in the middle of the deadly coronavirus pandemic hitting the U.S, with more than 20%, or 11,000, of the nation’s COVID-19 deaths happening in these long term care facilities, according to a...
In a Reversal, Texas Supreme Court Allows Prompt Payment Claim Against State Farm Lloyds
May 4 2020 // Texas’ high court recently reversed the ruling of an appeals court in a case involving whether an insurer’s payment of an appraisal award negates an insured’s claim against the carrier under the Texas...
Tennessee Insurance Claims from Deadly March Tornadoes Top $1B
May 4 2020 // More than 15,600 insurance claims seeking more than $1.1 billion have been filed in Tennessee over deadly tornadoes that tore through the state early last month, state officials said last month. Tennessee Department of...
Penn. High Court Deals Potential Blow To Carriers’ Denial Of Business Income Claims
May 1 2020 // In a case where no insurance company or insurance claim was involved, the Pennsylvania Supreme Court issued a ruling that could potentially negate one of the insurance industry’s standard bases for denial of coverage...
Non-Life Insurance Claims from Pandemic to Surpass 9/11 Claims: Willis Towers Watson
May 1 2020 // Insurance broker Willis Towers Watson on Friday estimated general insurance losses between $32 billion and $80 billion across key classes in the United States and UK from the novel coronavirus, surpassing claims from the...
Washington Extends Deadline for Claims with Building Repairs
Apr 30 2020 // Washington Insurance Commissioner Mike Kreidler on Thursday filed an emergency order that requires insurers to extend deadlines relating to withheld depreciation for policyholders who are in the process of completing home...
Markel Estimates COVID-19 Losses of $325 Million
Apr 30 2020 // Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential losses. The holding...
Top Insurers Face Lawsuit from UK Hospitality Sector on Rejected Biz Interruption Claims
Apr 30 2020 // Top insurers such as AXA, RSA, QBE and Zurich face a potential multi-million-pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption claims have been...
Court Nixes $64M Award Against Fireman’s Fund in Reinsurance Spat with Utica Mutual
Apr 30 2020 // A federal appellate court on Tuesday overturned a jury’s award of $64 million against Fireman’s Fund Insurance Co. for allegedly breaching the terms of a reinsurance agreement. The 2nd Circuit Court of Appeals...
Insurtech Demo Day 2020
Apr 29 2020 // Just a week shy of our Virtual Insurtech Summit, to air Wednesday, May 6th, I attended the virtual Demo Day of the Hartford Insurtech Hub on Tuesday, April 28th. As the host for our upcoming Summit, I’ve spent time...
Hiscox Action Group Gears Up to Take Hiscox to Court over COVID-19 BI Exclusions
Apr 29 2020 // Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox’s pandemic exclusions to its commercial business interruption policies. More than 300 UK policyholders have joined the Hiscox Action...
Guest Post: The Insurance Professional’s Guide to Giving Depositions Part 6: Appearing for Your Deposition
Apr 29 2020 // Today’s post is the sixth and final in a series of posts by friend of the Academy, Crystal M. Uebelher, J.D., CPCU. Crystal is an insurance professional and a lawyer. Crystal loves teaching non-lawyers about the law...
NICB: Texas Again Claims Top Spot for Hail Claims
Apr 28 2020 // A three-year analysis National Insurance Crime Bureau (NICB) of insurance claims associated with hailstorms in the United States shows Texas once again leads all states in hail claims by a wide margin. NICB’s report...
Texas High Court Allows Prompt Payment Claim Against State Farm Lloyds
Apr 28 2020 // Texas’ high court recently reversed the ruling of an appeals court in a case involving whether an insurer’s payment of an appraisal award negates an insured’s claim against the carrier under the Texas...
