Claims News

Farmers Expects $2.1B in Claims from California Wildfires

Farmers Insurance expects $2.1 billion in claims from the California wildfires in November. The Los Angeles, Calif.-based carrier said it has so far received more than 9,000 claims combined for the Camp Fire in Northern California and the Woolsey Fire …

Report: Workers’ Comp Medical Payments Fell in California After Reforms

Medical payments per claim with more than seven days of lost time in California decreased after the implementation of workers’ comp reform for claims with experience through March 2017, according to a recent study by the Workers Compensation Research Institute. …

CoreLogic to Buy Toronto-Based Claims Workflow Firm Symbility Solutions

CoreLogic, the Irvine, Calif.-based property data and analytics firm, has agreed to acquire the outstanding shares of Symbililty Solutions Inc. not already owned by CoreLogic. CoreLogic currently holds approximately a 28 percent ownership interest in Symbility. Symbility, which is headquartered …

Report: California Self-Insured Workers’ Comp Claim Frequency Rose Last Year

Workers’ compensation claim frequency reported by California’s private self-insured employers rose last year, the first increase in a decade, according to the California Workers’ Compensation Institute. The CWCI issued a report on Monday that shows the incidence of both indemnity …

Idaho Workers’ Compensation Rates to Decrease in 2019

The Idaho Department of Insurance has proved a 4.2 percent drop in workers’ compensation insurance rates effective Jan. 1, 2019. The proposed rate change comes from the National Council on Compensation Insurance, and is a function of declining claim costs, …

Just Like Many British Homes, UK Insurers’ Shares Are Subsiding This Summer

Just like a lot of British houses this summer, U.K. insurance stocks are sinking. The country’s non-life insurers sector had its steepest drop in more than a year-and-a-half on Friday after its biggest constituent, RSA Insurance Group Plc, warned this …

Litigation Financing Emerges as Alternative Asset Class for Wealthy Investors

When shares of AMP Ltd. plunged earlier this year after the firm was engulfed in a fee-for-no-service scandal, the Australian wealth manager was hit within weeks by the first of five separate class action lawsuits. It wasn’t just the seriousness …

UK Could See Surge in Subsidence Claims Due to Prolonged Dry Weather: Sedgwick

The UK could see a surge in subsidence due to the prolonged spell of hot and dry weather across the country, according to Sedgwick, a London-based provider of technology enabled risk, benefits and integrated business solutions. Based on the company’s …

Study Looks at Polypharmacy Claims in California Workers’ Comp

A study from the California Workers’ Compensation Institute shows the likelihood that indemnity was paid on a workers’ comp claim increased with the number of concurrent prescriptions the injured worker was on. Concurrent use of multiple medications to treat one …

Sicilian Gangsters Crushed Limbs to Fake Car Accidents in Insurance Fraud: Police

Sicilian gangsters dropped 25-kilo (55-pound) cast-iron weights on the limbs of drug addicts, alcoholics and other vulnerable people to obtain insurance payments for fake car accidents worth hundreds of thousands of euros, police said Wednesday after making 11 arrests in …