According to industry experts, there are a number of differences that differentiate standard lines versus excess and surplus lines. Typically excess and surplus lines coverage offers policyholders with unique risk or poor loss history an opportunity to obtain insurance that …
New anti-fraud legislation was passed this year in Colorado, Georgia and Minnesota, according to Tim Lynch, government affairs director at the National Insurance Crime Bureau. Lynch discussed the status of anti-fraud legislation and other NICB efforts during a recent podcast …
A new report released by the National Transportation Safety Board (NTSB) on parasailing safety found that most of the parasailing accidents it investigated were the result of a combination of factors, including an operator’s failure to monitor developing weather condition, …
Earlier this year, General Motors Co. hired Kenneth Feinberg, a victim compensation expert, to oversee payment to those injured in crashes caused by faulty ignition switches in GM cars. GM says it’s trying to do the right thing by making …
In just a few years, adjusters may no longer be saddled with multiple devices for appraising damage, according to a recent industry white paper. Instead, one device alone will serve as a camera, tape recorder, video conferencing device, GPS and …
Insurers continue to focus on improving claims technology, according to Karlyn Carnahan, research director at Celent. The main area of improvement is the replacement of aging claims administration systems, with more than 50 percent of carriers currently in the process …
Insurance industry professionals are bullish when it comes to the economy and their jobs, according to an industry expert. The same appears to hold true for the claims adjusters and managers who responded to the third annual Claims Journal 2014 …
Distinguishing claims that fall under the Longshore & Harbor Workers’ Compensation Act (LHWCA) and the Jones Act can be difficult, said Jack Martone, senior vice president of American Equity Underwriters. Martone discussed the two maritime coverages at the April Risk …
Directors & officers claims are increasing here and in other parts of the globe, according to insurance industry experts. Claims centered on merger acquisition, health care service vendor operations and cyber breaches will be the new norm. Eric Boyum, senior …
Technology and social media are great tools used to investigate insurance fraud, according to expert panelists who spoke at the recent Risk and Insurance Management Society conference in Denver. Susan LaBar, a risk manager for the bus company Coach USA/Megabus, …