Claims Journal

Another tough season ahead? https://lnkd.in/eKu_aYfz

While there is no one-size-fits-all solution, CCOs can follow several fundamental best practices to help reduce the risk of bad faith allegations, writes CLARA Analytics CEO Heather H. Wilson. https://lnkd.in/e8ZY2Tee

“Customers are, in essence, paying higher prices for slower service,” said Mark Garrett, director of insurance intelligence at J.D. Power. “The average claimant does not receive final payment on a claim until 44 days after the first notice of loss, and unless insurers communicate frequently and clearly along the way, customer satisfaction suffers.” - writes Jahna Jacobson with Insurance Journal.

In our latest Expert Viewpoints piece Rich Wickliffe, ARM, CLU, CPCU, FCLS writes: "In 20 years of leading special investigation units (SIUs) for a large national property/casualty insurance carrier, I have seen how quickly fraud evolves to exploit hurricanes, floods, earthquakes, tornadoes and now wildfires. It is imperative that insurance professionals—from agents to claims staff—recognize the warning signs. Equally important is the opportunity to educate customers on how to protect themselves from becoming targets." https://lnkd.in/ePnm_7xG

Investors are buying so-called subrogation claims, obtaining an insurer’s right to compensation from a utility if it’s found liable for fire-related damage.

https://lnkd.in/eX8FjSNB Forensic meteorologists play a vital role in insurance claims by analyzing historical weather events to determine their impact on property damage, accidents, and disputes. With expertise in hail, wind, and extreme weather conditions, these specialists provide crucial insights that help claims professionals resolve complex cases and assess liability effectively. Claims Journal's Don Jergler sits down with J.S. Held LLC's Dan Schreiber, CCM to talk about this topic! To read more Expert Viewpoints, visit https://lnkd.in/eQRhpeUW

The World Meteorological Organization listed 151 “unprecedented” extreme weather events in 2024, which was the warmest on record.?

A good analysis of changes in homeowners insurance in the admitted and surplus markets in the state from Mikhail Gorshunov with The Surplus Line Association of California.

Not since “Banksy’s Girl with Balloon” unexpectedly self-destructed on the Sotheby’s auction floor has a work of art made such a sensation as the “duct-taped banana.” Check out our latest Experts Viewpoint piece with J.S. Held LLC's Erin Hollenbank, ASA and James Malackowski.

The approval is on the provision that the company can justify the hike with data in a public hearing scheduled for April 8.