Recognizing the difference between hard and soft fraud can aid in investigating fraudulent contents claims, according to two Property & Liability Resource Bureau national conference panelists who spoke recently on the subject. Both Florida-based experts, Greg Nelson with UPC Insurance …
U.S. annual spending on prescription medicines will increase 22 percent over the next five years, climbing as high as $400 billion in 2020, according to a report released by health care information company IMS Health Holdings Inc on Thursday. Those …
Jewelry and watches remain the costliest content claims items, according to the latest Xactware Annual Property Report. Data from the company’s 2015 report was outlined recently during the Verisk Monday webinar. In its eleventh year, the property report on the …
The property/casualty industry is undergoing significant challenges with increased claim severity in liability and physical damage claims. These increases are outpacing inflation and rate adequacy. According to the Insurance Information Institute, in 2009 the average private passenger auto bodily injury …
Slips, trips and falls are a leading cause of injury for businesses and workplaces, according to Travelers Insurance. Businesses with considerable foot traffic have a heightened concern, especially during the winter months. Some of the hazards associated with slip and …
On Tuesday, February 9, Safety National hosted a webinar on how the bureaucracy of workers’ compensation drives costs. The hosts of the Out Front Ideas webinar, Mark Walls, vice president of communications and strategic analysis at St. Louis-based Safety National, …
There are times where an inspection will be necessary in the most unique or hard to reach places. In some cases, it is too difficult or time consuming to rent, transport, place and erect equipment that may or may not …
Zurich Insurance Group AG is “prepared to shrink” some of its businesses after being caught off guard by the scale of claims it had to absorb last year, according to Cecilia Reyes, the company’s chief risk officer. “We were surprised, …
Workers’ compensation claim severity continues to increase, while claims frequency declines, according the latest California hospital report benchmarking workers’ comp costs by Milliman and Keenan Healthcare. Data from 35 facilities (hospital systems and individual facilities) within California was aggregated to …
Allstate Corp., the largest publicly traded U.S. car and home insurer, said fourth-quarter profit fell on a surge in auto claims. Net income declined 41 percent to $489 million, or $1.18 a share, from $824 million, or $1.86, a year …