Claims Magazine September 2012
Fraud has become the industry’s public enemy number one, a relentless leviathan siphoning $30 billion from P&C insurers annually.
A new report by Karen Clark & Co. says storms capable of major losses are not as infrequent as we might assume.
Tom Gallagher recounts the damage Hurricane Andrew inflicted and an industry forever changed.
Insured crop losses caused by the worst drought since 1988 could cost insurers and reinsurers more than $5 billion.
A recent string of copycat scams in southern Florida highlight a growing national problem.
Both the NOAA and a Nobel Prize-winning scientist issued statements linking recent extreme weather events to global warming. How strong is the connection?
At first glance whether a property is considered "vacant" should seem obvious. Unfortunately, however, it is not nearly as easy to determine as one would hope.
An updated version of CF&MIC, an authoritative resource guide for professionals handling a multitude of P&C claims, is now available.
Three classic examples of window sash losses illustrate the issues faced by the claims analyst.
To believe we have no enemies is probably pretty naïve but often the only person standing in your way is you.
Organizations need a clear understanding of current trends, challenges and available technology solutions to be able to deploy or improve an insurance claims fraud program.
Sometimes BI valuation is a relatively simple task; the loss period is short, and revenue and expenses have been stable over a number of years. In other cases, however, it is the polar opposite.
We often stress the importance of “best practices,” but it is actually best-practice behaviors that drive cultural shift at organizations.
Identifying common "red flags" that may indicate a claim potentially contains a fraudulent element or points to a malingering claimant.
Using title abstract reports and document forensics to investigate mortgage interests and evidence of fraud are contemporary best practices in supporting the claims process.
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