Personal Property Insurance Claims

Flood Claims from Irene still not Processed

From Risk(y) Business , 4 month ago, Read 0 times. Similar articles

In a recent report, 25% of flood claims from hurricane Irene are still not processed and small businesses are suffering. The NFIP is responsible for paying the claims and private insurers are responsible for processing them. Fingers are being pointed at the NFIP because they have yet to fund the claims. Private insurers who process them are not putting their own money to settle the claims. This is another burden on small businesses and shows the inefficiency of the Federally run program. This... Read more

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PIP Contributes to Rise in Auto Insurance Claims Costs

From Go Insurance Rates, 4 month ago, Read 0 times. Similar articles

Auto insurance claims are on the rise across the country according to a new report released by the Insurance Research Council (IRC). The report, issued this week, found that the increase in costs is reversing previous trends of relatively stable costs that have even declined in some cases. Auto Insurance Claims Severity and Frequency Increasing [...] Read more

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NY Court of Appeals Rejects Martin Act Preemption of Common Law Securities Claims

From The D & O Diary, 5 month ago, Read 0 times. Similar articles

A long-standing question under New York law is whether the state’s Martin Act preempts private claimants’ efforts to bring non-fraud common law claims in the securities context. A well-developed body of case law has generally held that it does, although recently some judges questioned this conclusion. ? In a December 20, 2011 opinion (here), the New York’s highest court held that the Martin Act does not preclude private claimants from bringing common law causes of action.... Read more

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Join me for RIMS 2012 Annual Conference & Exhibition in Philadelphia!

From Corporate Insurance Blog, 5 month ago, Read 0 times. Similar articles

Looking for a fantastic seminar devoted to risk and insurance' ?Are you a risk manager' ?Are you part of the insurance industry' ?Are you someone who helps companies get their claims covered and paid (that’s me! that’s me!)? Of course, then, you want to attend a risk management seminar with “no boundaries.” ?Well, look no [...] Read more

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Distractions while driving, more than cell phones

From Risk(y) Business , 5 month ago, Read 0 times. Similar articles

Insurance companies are paying claims from accidents caused by distracted driving. This has put a lot of pressure on legislatures to pass laws preventing the use of cell phones while driving. But is this short sighted' It may be. Look at all the gadgets cars have these days to cause distractions. GPS units, IPod units, video screens, climate control computers etc... just to name a few. No one is discussing all these items as far as distractions to drivers. I have a GPS unit in my car and... Read more

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What do ?seduction' and ?selling life insurance' have in common'

From The Life Insurance Blog, 8 month ago, Read 0 times. Similar articles

?Nothing'? Well that's my answer' but of course, that's just me because I'm probably naive. However, insurance adviser Andrew Smith claims that the six steps to ?get a girl' also work a treat when it comes to selling life insurance. See the original article here. According to Smith: 1. ?Make her laugh – Smith says if you make your clients laugh, a lot of barriers are broken down.? 2. ?Get her talking about herself ? Smith believes once you start listening to a client, they open up... Read more

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Claim Professionals Cannot be Held Personally Liable

From Coverage Counsel, 5 month ago, Read 0 times. Similar articles

HOMEOWNERS ? BREACH OF CONTRACT ? PUNITIVE DAMAGES ? FRAUD ? ATTORNEYS' FEES ? PERSONAL LIABILITY O'Keefe v. Allstate Ins. Co. (2nd Dept., decided 12/13/2011)? There's nothing new in this decision, but it sets forth a number of important and useful principles relating to the defense of first-party property coverage disputes: Personal Liability of Claims Professionals? Agents of a disclosed principal cannot be held personally liable for the principal's breach of contract.?... Read more

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Public Liability Insurance for a Bricklayer

From Ashburnham Insurance Services Li, 6 month ago, Read 0 times. Similar articles

I'm a Bricklayer, do I need liability insurance'Being a Bricklayer you will understand that there are many risks associated with the trade and as such it is crucial to have liability insurance in place. What are some examples of possible liability claims for a Bricklayer'? Whilst working you accidentally damage a third parties property (e.g. you go into someone's property and accidentally knock something over)? Whilst working you accidentally damage a third party (e.g. you leave a... Read more

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Allstate Insurance Offers Auto Customers Money-Back Guarantee

From Go Insurance Rates, 4 month ago, Read 0 times. Similar articles

Allstate Insurance, in an effort to find an edge over its competition,?is promising its customers a money-back guarantee?if they’re not satisfied with their auto insurance claims?service. This enticing refund option was successfully tested in four states last year and now has been expanded to dozens throughout the country. Allstate Tested Money-Back Guarantee Last Year In [...] Read more

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Risk Models Fall Short On Contingent Damage Predictions

From Risk(y) Business , 7 month ago, Read 1 times. Similar articles

Risk modeling has done a very good job at prediciting direct damage estimates from natural disasters and other claims. The models however have fallen short when trying to predict contingent damages. The last few years has been a real eye opening experience for insurers and reinsurers. The Japanese earthquake and the midwest weather catastrophes have wrought billions of dollars in contingent damages that risk models did not predict. Industry experts say the models can't be improved... Read more

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