Insurance carriers spend approximately $190 million a year on inspection programs, yet 75 percent of inspections done today offer no immediate value to loss experience or a carrier’s bottom line, according to a claims firm. The problem with inspection efficacy …
The board of directors for the state’s largest property insurer is set to hear a presentation on increasing its rates. At Tuesday’s Orlando meeting, the board that oversees operations of the state-backed Citizens Property Insurance Corp. will watch a power-point …
The Protector Plan for Events, underwritten by Travelers, has expanded beyond weddings to deliver specific coverages for private special events including parties for anniversaries, birthdays, sweet sixteen celebrations, baby showers, holiday parties, and retirements. The plan provides coverage for certain …
A new proposal that would change Michigan’s auto insurance coverage requirements for people injured in accidents has been introduced in the state Legislature. The latest proposal to change the system was introduced Tuesday in the state House. Michigan now is …
As the water recedes from Hurricane Irene, lawyers are expecting disputes over insurance coverage to pour in. The biggest fights will stem from arguments over property damage and whether it resulted from wind or water, legal experts said. Similar questions …
Lexington Insurance Company, a Chartis company, announced its spoliation insurance endorsement will be offered to a broad array of insureds, including lawyers, accountants, testing facilities, and document and property storage facilities. Lexington first provided coverage for spoliation claims as an …
An East Coast earthquake? Suffering damage from a seismic shift isn’t a risk many homeowner’s outside of California worry about. Most standard homeowners, renters and business insurance policies do not cover damage from earthquakes — specifically, the potential losses from …
One of Sony Corp’s insurers has asked a court to declare that it does not have to pay to defend the media and electronics conglomerate from mounting legal claims related to a massive data breach earlier this year. The dispute …
This week S.C. Governor Nikki Haley signed into law legislation to address the state’s Supreme Court ruling on Crossmann Communities of North Carolina, Inc. v. Harleysville Mutual Insurance Co.(Crossman). Earlier this year, the state Supreme Court issued a unanimous ruling …
A new Premises Pollution Liability form is now available through ACE Westchester. The new policy is designed to offer additional enhancements for the complex risks and exposures faced by owners of facilities affected by changing environmental regulations. The policy features …