Claims News

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 …

Tokio Marine to License Metromile’s Connected Intelligence Platform

San Francisco, Calif.-based startup Metromile announced today that Tokio Marine Holdings Inc. has become the first insurance carrier to license Metromile’s Connected Intelligence Platform. Metromile in July announced $90 million in Series E funding co-led by Tokio Marine and Intact …

Subrogation Management Firm SubroSmart Opens London Operations

SubroSmart*, a subrogation management firm, has announced the launch of its London operations, which will be led by George Gager and Chris Lally. The SubroSmart London team brings more than four decades’ combined experience in the global insurance market, said …

Fury of Hailstorms Battered Colorado, Insured Losses ‘Skyrocketing’

The hailstorms that hit Northern Colorado and the Denver-metro just over a week ago carried a $276.4 million insurance price tag. The storms followed a Southern Colorado hailstorm a week earlier that caused an estimated $169 million in insured losses. …

With Ambitions to Expand (and Disrupt Allianz), German Insurer DFV Weighs IPO

With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG [DFV] needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering is one path Stefan Knoll, founder and chief …

Endeavour Expands Capability of Claims Platform Used by Canadian Coverholders

Delegated authority specialist and Lloyd’s broker Endeavour Insurance Services has added new functionality, including Lineage compatibility, to its Advantage claims platform, further improving claims handling for Canadian coverholders and third party authorities (TPA). Developed in partnership with Advent Claims and …

California Chief Justice Expects an Influx of Wildfire Claims

California courts are preparing for an influx of lawsuits tied to last year’s historically destructive wildfires and mudslides, Chief Justice Tani Cantil-Sakauye told lawmakers this week in her annual “state of the judiciary” address. Cantil-Sakauye, who has sparred with President …

California Commissioner Orders Insurer to Halt Operations over Insolvency Risk

California Insurance Commissioner Dave Jones has issued a cease and desist order against Access Insurance Co., which requires it to immediately stop transacting, soliciting, negotiating, or administering and writing any new or renewal insurance business of any kind in the …

Romanian Firm UiPath Ascends as Leader in Automating Business Tasks Such as Claims

Romanian firm emerges as leader in automating business tasks Romanian software firm UiPath has raised $153 million in new venture financing, marking both the company’s rapid ascent as a leader in automating routine business tasks and the emergence of Central …