PropertyCasualty360: Property & Casualty Insurance News & Tips

3 ways to improve employee retention at your insurance agency

Michael Haddon| July 13, 2018

In today's environment, companies need to adopt a much more proactive approach when it comes to employee retention.
News

J&J ordered to pay almost $4.7 billion in talc asbestos cancer case

Margaret Cronin Fisk, Tim Bross and Jef Feeley| July 12, 2018

Women claimed asbestos in the company’s talc products caused them to develop ovarian cancer.
News

Self-driving cars don't need rules yet, U.S. regulator says

Ryan Beene| July 12, 2018

It’s premature to regulate the self-driving vehicles being tested, the U.S. government’s top auto safety official said.
Research

Surge in hacked credit-card information offered for sale on web

Jayleen R. Heft | July 12, 2018

Insurance companies and banks will probably see increased losses this year, according to cybersecurity firm, IntSights.
Research

Even parents with kids in the car can’t stop texting and driving

Riley Griffin| July 12, 2018

Are insurance companies and police too lenient in terms of identifying and punishing distracted drivers?
Will autonomous vehicles drive into a safer future?

Thom Rickert| July 12, 2018

Nearly every major car manufacturer has set a deadline to produce fully autonomous cars by 2021.
Commentary

Long-term NFIP reauthorization is essential

Jon Gentile| July 12, 2018

PIA says failure to act now is not an option.
Expert Opinion

Navigating commercial auto's rocky ride in the American West

Dr. Renu Ann Joseph| July 12, 2018

The U.S. auto insurance market is still finding its feet in the new normal of elevated claim frequency and severity.
News

Is a carrier’s claim file covered by attorney-client privilege?

Steven A. Meyerowitz | July 12, 2018

When an insurer denied liability for a bad faith lawsuit, the plaintiff argued that the denial waived the attorney-client privilege over the claim files.
Slideshow

10 strictest states on speeding and reckless driving

Denny Jacob | July 12, 2018

It pays to play by the rules when you're driving, especially when it comes to speeding.

Social media’s role in claims

Moshe Beauford| July 11, 2018

GDPR will affect how insurers use social media in their investigations.
Around the P&C insurance industry: July 11, 2018

Denny Jacob | July 11, 2018

News from Holmes Murphy, Liberty Specialty Markets, Arthur J. Gallagher & Co. and more.
News

The top 100 P&C insurance groups in 2017

Shawn Moynihan | July 11, 2018

Data from S&P Global Market Intelligence provide a look at who’s on top and who’s taken a hit in the P&C insurance market.
News

U.S. composite P&C rate ticks up in Q2 of 2018

Danielle Ling | July 11, 2018

Trucking and automobile risks suffered the greatest rate increases in the second quarter.
Analysis

Insuring a home spa? Know that a hot tub is not like a pool

FC & S Editors | July 11, 2018

Coverage Q&A: Insured homeowners need to know that hot tubs come with risks that may not be covered.
Breaches abound: 3 factors that increase identity theft risk

Rhys Dipshan| July 11, 2018

The risk of ID theft in any breach will vary depending on the type of data compromised and the demographics targeted.
10 worst airports of 2018

Danielle Ling | July 11, 2018

Try to bypass these international airports if you want to avoid costly claims, delays or other travel nightmares.
News

Macy's says hackers accessed online customers' credit card data

Lisa Wolfson and Hema Parmar| July 10, 2018

Hackers obtained names and passwords of online customers and potentially were able to access credit card numbers.
News

Amtrak rail cars in fatal crash didn't meet current standards

Alan Levin| July 10, 2018

The NTSB is conducting a two-day hearing on safety at Amtrak following a spate of deadly crashes.
Market Insights

P&C insurance agent/broker jobs up slightly in past 12 months

Jayleen R. Heft | July 10, 2018

For the insurance industry, on a year-over-year basis, employment changes in most major segments were mixed.

Commentary

Cybersecurity insurance: popular but poorly understood

Eleanor Vaida Gerhards| July 10, 2018

Insurance brokers and carriers should work closely with clients to identify unique cyber risks and tailor liability coverage accordingly.
Game on: Insuring the 2018 FIFA World Cup

Michael Furtschegger| July 10, 2018

Big or small, international or local, sporting events have an even bigger supporter — insurance.
News

Airlines cancel more than 200 flights as Typhoon Maria nears Taiwan

Adela Lin| July 10, 2018

Taiwan warned businesses and schools to prepare for extreme conditions as Severe Typhoon Maria closes in on the island.
News

Where to find risk consulting candidates of the future

Thomas Varney| July 10, 2018

Here are suggestions as to where an insurance carrier can find the talent required for today’s evolving insurance industry landscape.
Litigating product liability claims with foreign entities

By Shelby Guilbert and Nicholas Hill| July 10, 2018

Read the fine print when purchasing coverage from foreign insurers.
Flames, floods engulf Florida homes in adjuster’s $14M plot

Dennis Jay| July 10, 2018

Corrupt public adjuster damages homes with hammers, hoses, burning lard to balloon insurance claims.
News

Who’s using what in P&C insurance: July 9, 2018

PC360 Staff| July 09, 2018

Property & casualty insurance industry technology and partnership news from Accenture, CSI, RiskMatch and more.
News

Death toll tops 100 as Japan counts damage from record rain

Kazunori Takada| July 09, 2018

Rescuers have stepped up efforts to clear areas hit by flooding and landslides.
Case Study

Insurer questions impact of athlete’s injuries

Steven A. Meyerowitz | July 09, 2018

An ex-pro football player who received workers’ comp benefits may have to return them after appearing on Survivor.
Research

12 industries at risk of failing to manage the Earth's natural resources

Denny Jacob | July 09, 2018

Resource scarcity, regulatory action and pressure from communities and societies over natural resources continue to grow.

Market Insights

Keys to developing customer-centric technology

Fil Firmani| July 09, 2018

Customer-focused portals require a new look at core systems.
5 things to know about transaction liability insurance

William G. Passannante and Carrie Maylor DiCanio| July 09, 2018

Information for risk managers and deal team members on representation & warranty insurance, why you need it and how to deal with claims
Ranking

7 P&C companies in top 100 spots on 2018 Fortune's 500 list

Denny Jacob | July 06, 2018

Companies are ranked by total revenues for their respective fiscal years.
Analysis

U.S. car sales are expected to fall to recession levels

Sarah Gardner| July 06, 2018

Sales of sedans, coupes and sports cars are on pace for their worst year since 2009.
Analysis

Courts to determine allowable evidence for suits involving insurance claims

Matthew J. Smith, Esq.| July 06, 2018

Two cases on opposite coasts could dramatically affect person injury litigation.
Best Practices

How to avoid overpaying for defense costs

Jeremy H. Rogers| July 06, 2018

HITECH requests provide insurers some relief from medical records expenses.
Editor's Letter

Guarding our reputations

Patricia L. Harman | July 06, 2018

Reputational risk is increasing for organizations as social media and technology advance.
News

People on the move in the P&C insurance industry: July 6, 2018

Denny Jacob | July 06, 2018

News from Nationwide, Hanover Stone Partners, Holmes Murphy and more.
Commentary

'Conversational AI' is reinventing the insurance claims process

Srini Vinnakota| July 06, 2018

This technology allows insurers to offer better customer service and data from the outset.
How to respond and recover quickly from a cyber event

Matt Tucci| July 06, 2018

The steps outlined here cost nothing and can pay great dividends should a cyber breach occur.

News

NY State issues new banking rules for medical marijuana and industrial hemp businesses

Rosalie Donlon | July 06, 2018

The guidance is designed to encourage banks and credit unions to establish banking relationships with medical marijuana-related businesses.
News

Can you sue for lost business income after policy's time limit?

Steven A. Meyerowitz | July 05, 2018

One company challenged the lawsuit limitations period, saying it couldn’t ascertain its losses in that time. See what a federal appeals court ruled.
Best Practices

Hurricane season drives mass adoption of insurance drones

Nathan Stump| July 05, 2018

Drone technology enables faster claims processing, a reduction in loss adjustment expenses and improved claims adjuster safety.
Best Practices

Keeping clients’ data safe

Donna Rice| July 05, 2018

With cybercrime on the rise, businesses must implement training and protocols.
Slideshow

5 most expensive moves for car insurance rates

Danielle Ling | July 05, 2018

Here are the 5 most expensive moves for car insurance rates, and how to calculate price increases or savings depending on your next big move.
Best Practices

3 necessary components to an effective and memorable speech

Matt Naimoli| July 05, 2018

Here's what two independent insurance agents say makes a great industry conference speech.
Analysis

Your guide to selling insurance services to e-commerce businesses

Victoria Greene| July 05, 2018

Selling insurance to an e-commerce business is about making them aware of the dangers they face.
Best Practices

Motorcycle and ATV/UTV safety can help protect the ride and the rider

Dana Endress| July 04, 2018

Insuring a classic versus a newer motorcycle may require some additional considerations when selecting an insurer.
Best Practices

Choosing mediation over litigation

Gregory Service| July 04, 2018

Mediation offers policyholders another option to settle a claims dispute.
News

Around the P&C insurance industry: July 4, 2018

Denny Jacob | July 04, 2018

News from Marsh, The Travelers Companies Inc., Alera Group and more.

Slideshow

10 best airports

Danielle Ling | July 04, 2018

Whether you are traveling for business or vacation, here are the 10 best airports to fly in and out of this year.
Analysis

Additional Living Expenses: Just how much is covered?

FC & S Editors | July 04, 2018

Coverage Q&A: Additional Living Expenses insurance coverage is broad, but it still has limitations.
Best Practices

Fireworks can increase the risk of wildfires

Rosalie Donlon | July 04, 2018

Be careful with those fireworks you set off in the backyard. The home you save may be your own!
News

Swiss Re prepares to transition to a low-carbon economy

Denny Jacob | July 03, 2018

The company's thermal coal policy was first announced in June 2017.
Best Practices

Corrosion and hail-damaged HVAC coil repairs

Matt Livingston| July 03, 2018

Wind, hail and water are frequent culprits in degrading HVAC coils.
News

Texas lawyer sentenced for insurance fraud involving roof claims

Steven A. Meyerowitz| July 03, 2018

Attorney gets 5 years in prison for a scheme involving fraudulent lawsuits filed after hail storms.
Commentary

Why insurers, reinsurers should care about silent risk exposures

Yakir Golan| July 03, 2018

How exposed are your clients to cyber risk via unrelated insurance policies that do not specifically exclude cyber events?
News

Calif. insurance commissioner issues order for workers' comp insurers

Denny Jacob | July 03, 2018

Insurers will need to provide details about how savings from the new tax law impact their rates.
Analysis

The real hurricane for insurers could be in cyber insurance

Michael Costonis| July 03, 2018

Insurers need to take steps now to prepare for the cyber market to harden and pivot their business approach.
News

Can an injured pedestrian recover under a driver's UIM policy?

Steven A. Meyerowitz | July 03, 2018

Most underinsured motorist claims involve two or more vehicles, not pedestrians. See how the Delaware Supreme Court ruled in this case.

News

U.S. homeownership expected to rise for the young

Alex Tanzi| July 02, 2018

The home ownership rate of young adults will probably rise to 58.1% in 2025.
News

Who’s using what in P&C insurance: July 2, 2018

FC & S Editors | July 02, 2018

Insurance industry technology and partnership news from Guidewire Software, ATTOM Data Solutions, Appulate and more.
Slideshow

5 tips for staying safe while enjoying your summer barbecue

Michael D. Brown| July 02, 2018

Information insurance agents and brokers can share with clients to help them keep their homes and families safe while grilling
Commentary

Responding to the shift from ransomware to crypto-mining

Rotem Iram| July 02, 2018

Surprising new exposure: Hackers now realize that a company's electricity is an asset they can steal and monetize.
Analysis

Learning from Hurricane Irma: Properly insuring & protecting your business

Kristie Rearick| July 02, 2018

If Hurricane Irma has taught Florida anything, it's to plan for the worst and hope for the best.
Research

Most preventable, accidental deaths occur in July & August

Jayleen R. Heft | July 02, 2018

At least 18 children have died this year after being left in a hot car, and that number is increasing almost daily.
Best Practices

Is your deck a danger? 5 key areas to check

Jayleen R. Heft | July 02, 2018

Avoid a deck collapse by looking out for these warning signs of possible failure.
Best Practices

9 boat safety & life jacket reminders for the busy Fourth of July

Jayleen R. Heft | July 02, 2018

The Coast Guard reported $46 million dollars of damage to property as a result of recreational boating accidents in 2017.
News

Volcano forces Bali airport shutdown — more than 400 flights canceled

Rieka Rahadiana| June 29, 2018

A fresh eruption at Mount Agung near the popular tourist island sent volcanic ashes several miles high into the sky.
News

Lloyd's of London CEO Inga Beale to leave in 2019

Julie Edde| June 29, 2018

After 5 years at the helm of the world’s oldest & biggest insurance market, Lloyd's first female CEO will depart.

Best Practices

What to consider when developing or refining your cyber incident response plan

Zach Warren| June 29, 2018

Companies should consider instituting and strengthening plans for when — not if — they suffer a cybersecurity incident.
Commentary

AI will save insurance jobs, not kill them

Jeff Somers| June 29, 2018

Despite insurance industry hand-wringing over potential job loss, emerging technologies will only make agents’ jobs easier.
News

Geico hit with $2M post-apportion award in bad faith suit

Greg Land| June 29, 2018

Is an insurance company really liable for bad-faith when it alleges that it had no notice of a claim? See what one Georgia jury decided.
Commentary

How traditional companies can disrupt insurance industry disruptors

Paige Schaffer| June 29, 2018

Forward-thinking insurers must grow their product ecosystem while building customer loyalty.
Ranking

10 best states for teen drivers

Denny Jacob | June 29, 2018

A recent study by WalletHub identified the best states for teen drivers using a collection of 23 key metrics.
Research

Fireworks safety: Sparklers were No. 1 cause of injuries in 2017

Jayleen R. Heft | June 29, 2018

Each year, fireworks cause on average 1,300 structure fires, 300 vehicle fires and result in thousands of injuries.
News

AI will thrash the economy like a ‘tsunami,’ Allstate CEO says

William Mathis| June 28, 2018

That change has already come to the auto insurance business.
Research

Hurricane prevention reduces business loss exposures: $1 spent saves $105

Jayleen R. Heft | June 28, 2018

For every $1 a business spends on hurricane protection, it reduces loss exposure by about $105, according to FM Global.
Commentary

Why do injured workers turn to attorneys in workers’ compensation cases?

Joe Rubinsztain| June 28, 2018

There are four system failures that lead to litigation.
Best Practices

Does your insurance agency website make a good virtual first impression?

Ashleigh Rothhammer| June 28, 2018

Your insurance agency website is your 24/7 store front.

News

Colo. early morning hailstorm carries $169 million insurance price tag

Jayleen R. Heft | June 28, 2018

The June 13 storm pounded vehicles and roofs causing widespread damage with golf and baseball-sized hail.
Analysis

Insurers still have room to grow in automation

Jason Tillman| June 28, 2018

Here are answers to frequently asked questions about advancing automation solutions in the insurance industry.
News

Beers at work after hours may be a 'function' for insurance purposes

Steven A. Meyerowitz | June 28, 2018

Are casual drinks after work on the employer's premises the equivalent of a holiday party with similar liability issues? See what one court had to say.
Best Practices

5 key takeaways from Zurich on extreme weather events

Denny Jacob | June 28, 2018

Being prepared for an extreme weather event is more pressing than ever.
News

Around the P&C insurance industry: June 27, 2018

Denny Jacob | June 27, 2018

News from American International Group Inc., Munich Re, NSM Insurance Group and more.
News

Citizen Property Insurance board defers 2019 rate recommendations

Steven A. Meyerowitz| June 27, 2018

The board voted to defer action on a proposed 7.9% statewide increase for personal lines policyholders in Florida.
Slideshow

5 most expensive states for insuring a teen driver

Danielle Ling | June 27, 2018

Gender, age and location are the biggest factors in determining the cost of insuring a teen driver.
Analysis

Critter-related property damage requires an eagle eye

FC & S Editors | June 27, 2018

Coverage Q&A: Take a good look at insurance policy language to determine coverage for wildlife damage.
Commentary

Payment technology challenges in the insurance industry

Bethany Frank| June 27, 2018

With the right technology, insurance companies can make the payments process far more efficient and user-friendly.
News

July 4th holiday expected to set travel numbers record

Jayleen R. Heft | June 27, 2018

AAA predicts drivers will experience the worst congestion on Tuesday, July 3 in the late afternoon.

News

City climate change suits against big oil tossed by judge

Peter Blumberg and Robert Burnson| June 26, 2018

The suits thrown out Monday sought to recover the cost of infrastructure needed to protect against rising sea levels.
News

Tesla Model S that caught fire in Florida hit speed of 116 MPH

Alan Levin| June 26, 2018

The fire in the battery pack was extinguished using 200 to 300 gallons of water and foam, the NTSB said.
Research

Bicyclists’ injury risk could be doubled if they lack latest helmets

Alan Levin| June 26, 2018

New research finds that current standards for bike helmets aren’t a good reflection of most real-world bike spills.
Slideshow

10 worst airlines of 2018

Danielle Ling | June 26, 2018

Flying with these 10 airlines might cost you time and money. Here are the 10 worst airlines of 2018.
Auto insurance appraiser gets 10 years for involvement in staged collision ring

Steven A. Meyerowitz,| June 26, 2018

The California man was ordered to pay $699,784 in restitution to 6 auto insurers, including over $420,000 to Nationwide.
Commentary

Understanding the implications of shared vehicles on insurance

Michael Goldman, FCAS, MAAA| June 26, 2018

Insurance companies are tasked with balancing the risks with the benefit of extending coverage for non-traditional scenarios.
Analysis

D&O issues with blockchain, cryptocurrencies & ICOs

Todd D. Kremin and Jonathan L. Schwartz| June 26, 2018

Recent litigation has defined exposure that insurance professionals should be keenly aware of.
The 4 elements of ‘brand voice’ in insurance

Rick Fox| June 26, 2018

Taking charge of brand management is one of the most crucial things agents or brokers can do to grow their business.
News

MetLife accused of defrauding investors over pension reserves

Katherine Chiglinsky and Neil Weinberg| June 25, 2018

Massachusetts Secretary of the Commonwealth claims MetLife’s public filings had 'material misstatements.'
News

Who’s using what in P&C insurance: June 25, 2018

PC360 Staff| June 25, 2018

Property & casualty insurance industry tech and partnership news from VUE Software, Spex Technologies, American Modern Insurance Group and more.

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