When it comes to hail damage or another major weather event, the insurance industry might benefit from the “an ounce of prevention can equal a pound of cure” philosophy used in the healthcare world. Let’s say a person has a …
The number of homeowners insurance claims from lightning strikes in the United States fell in 2015; however, the total insurers paid on those claims rose by nearly 7 percent, according to a new analysis by the Insurance Information Institute (I.I.I.). …
My appraisal team was recently asked to determine feasibility of restoration or conservation as well as the replacement values for 18 rugs damaged in a water loss. Color runs, discoloration and stains were among the types of damage incurred. Seller …
A new report released by the Travelers Companies Inc., reveals that even minor injuries can substantially impact business productivity. The Injury Impact Report identifies the most common causes of workplace accidents and injuries through analysis of 1.5 million workers’ compensation …
Though recent analysis of hail claims revealed a significant decline within the past couple of years, data compiled by Verisk A-PLUS property database indicates hail-related claims costs soared between 2008-2013. The National Insurance Crime Bureau released the most recent three-year …
The cost of dog bite claims for U.S. insurers climbed 16 percent last year on higher medical expenses and larger settlements to resolve court disputes. The average claim increased to $37,214 in 2015 from $32,072 a year earlier, according to …
An early April storm caused significant property losses in Ohio and several other states. According to the Ohio Insurance Institute (OII) and Property Claim Services (PCS) high winds and accompanying rains across the Buckeye state caused between $52.6 and $57.8 …
Intact Financial Corp. may post insured losses of as much as C$1.1 billion ($850 million) from the wildfires in Alberta, which could dent the Canadian economy harder than Hurricane Katrina hit the U.S. Intact, Canada’s biggest property and casualty insurer, …
Catastrophe activity in the U.S. led to $3.8 billion in insured losses in 29 states during the 2016 first quarter, with much of the damage hitting Texas. Those events were the worst in a decade in terms of frequency and …
Valuing Rods, Reels, Bait & Tackle Fishing is defined as the capture of any aquatic animal, including shellfish and octopi, through the use of specialized equipment. This equipment turns up quite often in insurance claims. Over a nine-month span between …