Florida insurers to weather effects of Michael, analysts say

Terry Spencer | October 16, 2018

Florida’s disjointed property insurance system will take a multibillion-dollar loss from Hurricane Michael.

Home improvement contractor gets 7 years for stealing from Sandy victims

Steven A. Meyerowitz | October 16, 2018

A N.J. man stole over $1.4 million from more than 20 victims who hired his home improvement companies to fix their homes.

News

Florida freezes insurance rates after massive damage from Michael

Jim Saunders | October 15, 2018

Gov. Scott directed the state’s top insurance regulator to freeze any property insurance rate increases for 90 days.

News

California utility cuts power to 60,000 in proactive move to prevent wildfires

David R. Baker | October 15, 2018

Customers in 6 counties across the Sierra Nevadas and wine country were blacked out Sunday during a windstorm.

News

Cincinnati Financial to acquire MSP Underwriting Limited from Munich Re

Jayleen R. Heft | October 15, 2018

An experienced property and aviation underwriter, MSP Underwriting has a long track record of success.

News

Pilot who destroyed luxury goods to defraud insurers is going to prison

Jayleen R. Heft | October 15, 2018

Theodore Wright and his co-conspirators allegedly destroyed planes, vessels and a Lamborghini for insurance proceeds.

Market Insights

New Car Assessment Program aids in pricing auto insurance

Christopher O’Connor | October 15, 2018

The effort to gather more information about individuals can result in privacy violations and even unintentional bias.

News

Surprise! Hurricane Michael one of the most powerful storms on record [photos]

Jayleen R. Heft | October 15, 2018

Early estimates point to $5-$10 billion total insured losses, with majority borne by reinsurers, according to Morgan Stanley.

Commentary

P&C insurers look to the cloud for key business solutions

Alex Naddaff | October 15, 2018

P&C insurers increasingly embrace SaaS business models enabled by cloud technology.

Best Practices

The changing face of cyber claims

James Burns | October 15, 2018

Current threats are focusing on wire transfer fraud and ransomware.

News

Facebook says hackers stole detailed personal data from 14 million people

Sarah Frier| October 12, 2018

Intimate info, including locations and hometowns, were stolen by attackers in a major hack disclosed 2 weeks ago.

Research

Insurance litigation balloons in insurer-friendly federal courts, report finds

Greg Land| October 12, 2018

Major increases in homeowner, automobile and most other types of insurance disputes filed in federal court.

News

Early insured loss estimates for Hurricane Michael are in

Danielle Ling | October 12, 2018

Packing 155 mph wind gusts, Hurricane Michael left many coastal communities in ruins.

News

FEMA chief slams U.S. failure to prepare, evacuate before storms

Christopher Flavelle| October 12, 2018

The FEMA director chastised Americans failing to heed evacuation warnings and failure of many people to carry insurance.

Career Moves

People on the move in the P&C insurance industry: Oct. 12, 2018

Denny Jacob | October 12, 2018

News from Assurance, CoverWallet, Charity First and more.

News

U Scope boosts Hurricane Florence recovery efforts with free software

Denny Jacob | October 12, 2018

Some of PHOTO iD’s features include a multi-interface inspection camera, inspection photo reminder notification and more.

Case Study

Can landlord be liable for tenants' pit bull attack?

Katheryn Tucker| October 12, 2018

Landlord tries to persuade court not to hold him liable for a disfiguring attack after his tenants' pit bulls broke out.

Editor's Letter

Expert says technology alone cannot deter cyber risks

Patricia L. Harman | October 12, 2018

People, not programs, are still the best defense against insurance fraud.

News

Pets now allowed to evacuate during storms on N.Y. public transportation

Steven A. Meyerowitz| October 12, 2018

During Superstorm Sandy, many pet owners refused to evacuate because they couldn't take their companion animals.

Expert Opinion

Damage from Florence & Michael? Managing multiple business storm claims

Robert W. O’Brien| October 12, 2018

If a business suffered physical damage from both Florence and Michael, it could raise coverage questions.

Profile

Florida’s Condon-Meek is working smarter

Rosalie Donlon | October 12, 2018

NU 2018 Agency of the Year Award Winner: Leveraging technology and targeting niches put this independent insurance agency on a steady course to a century of service.

Slideshow

‘Unimaginable destruction’: Hurricane leaves 11 dead, smashes rows of houses [photos]

Danielle Ling | October 11, 2018

Coastal communities are in ruins as Michael continues on, making its way through Florida to the Carolinas.

IICF Week of Giving: How the insurance industry gives back

Denise Hunter| October 11, 2018

The IICF Week of Giving brings companies and competitors together to participate in volunteer projects. Here is one insurance professional’s story.

Best Practices

Hurricane Michael: After the storm safety tips

Jayleen R. Heft | October 11, 2018

Here's how to stay safe following Hurricane Michael's extensive damage and extended power outages.

News

Acuity honored by PIA National

Denny Jacob | October 11, 2018

The presentation was made at a gala ceremony held in conjunction with PIA's Board of Directors meeting in Portland, Maine.

Best Practices

Culture is key to attracting younger talent, but you can make it mutually beneficial

Donna Warrick| October 11, 2018

Here are some practical steps most firms can take to enhance their brand for millennial and Gen Z values.

Best Practices

Municipalities and government: New targets for cyber criminals

Thom Rickert| October 11, 2018

Public and private entities must work in tandem to tackle the growing threat of cyberattacks.

Commentary

Rethink sexual harassment prevention training

Colleen Huber| October 11, 2018

With the incalculable cost of damage to a company’s reputation on the line, getting sexual harassment training right isn’t an option－it’s a mandate.

Ranking

The 15 most dangerous places to live: Forbes

Denny Jacob | October 11, 2018

Every country is dangerous to some degree, but it's no question that some are riskier than others.

News

Toxic red tide could sicken people as Hurricane Michael pushes it ashore

Christopher Flavelle| October 10, 2018

The breaking waves could turn the algae into an airborne toxin, spreading the risk beyond the reach of the storm surge.

Commentary

Nanoparticles: The next asbestos?

Christine G. Barlow, CPCU| October 10, 2018

Nanoparticles are found everywhere and have some great benefits. But they're so small that they may also increase exposure to toxic substances.

News

Michael rips into Florida as a Category 4 hurricane

Brian K. Sullivan and Jim Efstathiou Jr.| October 10, 2018

Hurricane Michael made landfall on the Florida Panhandle Wednesday, with 155 mile-per-hour winds.

Commentary

The digital dam is about to burst on America’s insurance industry

Haywood Marsh| October 10, 2018

Leaders in the insurance industry anticipate massive change, but many are fighting against legacy systems.

Market Insights

5 factors driving small business cyber insurance market growth

Denny Jacob | October 10, 2018

There was a 58% increase in growth of policies sold in the third quarter of 2018, according to CyberPolicy's latest report.

News

Around the P&C insurance industry: Oct. 10, 2018

Denny Jacob | October 10, 2018

News from Valen Analytics, Pioneer Programs Insurance Solutions LLC, Pennsylvania Lumbermens Mutual Insurance Company and more.

Mastering the 1-2-3 of cybersecurity

Tara Kelly| October 10, 2018

Insurers face even more risks than their policyholders when it comes to protecting data, requiring more stringent security measures to defeat hackers.

Q&A

Homeowners' insurance issues following bankruptcy, foreclosure

FC & S Editors | October 10, 2018

Coverage Q&A: An insurer's mortgage obligation during foreclosure is the value of a property loss limited to the homeowner's insurable interest.

Profile

Morris & Garritano honors its history but takes nothing for granted

Elana Ashanti Jefferson | October 10, 2018

NU 2018 Agency of the Year Award Winner: CEO Brendan Morris and his team are digging in.

11 things you can do to prepare for hurricane winds

Trudy Knockless| October 09, 2018

The damage and total losses caused by hurricane winds can cripple a business.

Commentary

Hurricane Michael: Two days' old and still growing rapidly

Robert Muir-Wood| October 09, 2018

Unlike slow-moving Hurricane Florence, Michael is accelerating rapidly and is expected to cause more damage from wind than water.

News

Hurricane Michael, now a Cat 4, threatens up to 57,000 homes in Florida

Danielle Ling | October 09, 2018

The approximate reconstruction cost value (RCV) of these homes is $13.4 billion.

NU's Agency of the Year 2018 winners announced

Shawn Moynihan | October 09, 2018

Condon-Meek Insurance, Insurance Office of America and Morris & Garritano take top honors.

Analysis

You’ve been hacked. Now what?

Chris Larson| October 09, 2018

Data breaches happen fast. Here’s a look at what happens next, and where cyber liability insurance can provide assistance.

Commentary

Insurance companies are facing a patchwork of cyber compliance deadlines

Christopher M. Brubaker| October 09, 2018

It's not getting any easier for insurers to stay abreast of emerging cybersecurity rules and regulations.

Best Practices

8 tips for protecting your personal data

Patricia L. Harman | October 09, 2018

There is a lot of information available on the web and in databases. Here’s how to make it less accessible.

Slideshow

10 worst states for pedestrian deaths

Danielle Ling | October 09, 2018

Nine of the top 10 most deadly states for pedestrians are located in the South.

Best Practices

4 out of 5 U.S. fire deaths occur at home

Jayleen R. Heft | October 09, 2018

If you have a reported fire in your home, you are more likely to die today than you were a few decades ago.

News

Who’s using what in P&C insurance: Oct. 8, 2018

PC360 Staff| October 08, 2018

October in the insurance technology sector means InsureTech Connect and the new partnerships announced during the popular Las Vegas summit.

News

Limo regulations probed after deadly N.Y. crash, NTSB says

Ryan Beene and Alan Levin| October 08, 2018

The crash highlights concerns including crash worthiness, seat belt use and the patchwork of regulations.

News

Hurricane Michael chugging toward Florida panhandle

Brian Eckhouse| October 08, 2018

Michael has the potential to become a major hurricane by late Tuesday.

News

California enters peak fire season with Delaware-sized burn scar

Brian K. Sullivan and Mark Chediak| October 08, 2018

Eleven of California’s 20 deadliest fires occurred in previous Octobers, along with 11 of its most destructive.

Analysis

What is a water-logged car worth?

Jared Kalfus| October 08, 2018

Data and analytics help insurers assess the value of flood-damaged vehicles after Florence.

Market Insights

U.S. pet insurance market to double by 2022, according to market research

Jayleen R. Heft | October 08, 2018

The pet insurance market is forecast to grow over 14% per year.

Best Practices

Preparing to respond to a catastrophe? Here’s what you need to know

Patricia L. Harman | October 08, 2018

It only takes one major storm making landfall to create chaos.

News

Top insurance technology issues nagging at industry leaders

Elana Ashanti Jefferson | October 08, 2018

Insurance industry leaders such as Inga Beale of Lloyds and Daniel Schreiber of Lemonade helped set the tone recently during InsureTech Connect 2018 in Las Vegas.

Profile

Insurance Office of America fuses smart growth, savvy branding

Tracey Porpora| October 08, 2018

NU 2018 Agency of the Year Award Winner: This independent insurance agency is focused on the future.

News

Toyota issues second Prius recall in a month on crash risk

Kevin Buckland| October 05, 2018

Toyota is recalling more than 2 million Prius hybrids globally on the risk that a software malfunction could end in a crash.

Career Moves

People on the move in the P&C insurance industry: Oct. 5, 2018

Denny Jacob | October 05, 2018

News from Hanover Stone Partners, Global Insurance Accelerator, Kraus-Anderson Insurance and more.

Market Insights

The MEMIC Group issues record-breaking dividends for Maine employees

Denny Jacob | October 05, 2018

The board of directors authorized the MEMIC policyholder dividend at a meeting in late September.

Commentary

5 digital trends leading the insurance revolution

Luke Cohler| October 05, 2018

The emergence of dynamic new startups has begun to yield major shifts in the industry.

Commentary

Does the SEC’s cyber enforcement change the game for insurers?

Alan Brill| October 05, 2018

There is now a very real risk that a lawsuit could result from the SEC determining that an organization’s cybersecurity is lacking.

Commentary

Some days you feel like a nut… a look at undisclosed principalship

Ken Brownlee, CPCU| October 05, 2018

Failure to investigate a claim can leave an adjuster missing critical facts.

Slideshow

Traffic deaths down 1.8% in 2017, plus 14 additional key NHTSA findings

Jayleen R. Heft | October 05, 2018

In 2017, 37,133 people died in crashes, a decrease from 2016, following two consecutive years of large increases.

Slideshow

5 key takeaways from new J.D. Power cyber insurance study

Denny Jacob | October 05, 2018

No one is truly immune from a cyber attack, so take time this October to understand the ever-changing cyber landscape.

News

New U.S. rules on autonomous driving: Human truck drivers not required

Ryan Beene| October 04, 2018

The feds will no longer assume that a commercial vehicle driver is human, according to 'Automated Vehicles 3.0' guidance.

News

Alliant joins Everest Re to help hedge funds with cybersecurity

Katherine Chiglinsky| October 04, 2018

Alliant Insurance Services works with more 250 hedge funds to help them find insurance.

News

Seeman Holtz Property & Casualty acquires family-owned Spencer Agency

Jayleen R. Heft | October 04, 2018

Spencer Insurance Agency has been serving the Eastern coast of Florida for over 25 years.

3 ways insurance agents can raise their profile in the marketplace

Chris Radford| October 04, 2018

Independent insurance agents can’t afford to be 'the best kept secret' if they want to grow and remain profitable.

Market Insights

Delivering value along the digital journey

Fil Firmani| October 04, 2018

Insurers face three distinct stages in their quest for digital maturity.

Expert Opinion

Minimizing the unpredictability of claims litigation

Alan S. Fanger| October 04, 2018

Trial outcomes frequently rely on perceptions of credibility, appearance and sympathy.

Commentary

Cannabis coverage conundrum: Was this property claim doomed?

Michael S. Levine and Geoffrey B. Fehling| October 04, 2018

One recent case raises several important insurance issues for policyholders and previews likely battlegrounds for future cannabis coverage disputes.

Commentary

Preparing for the next big earthquake

Eric Preston| October 04, 2018

Although seismic events can strike with little or no warning, major tremors are often separated by years or even decades.

Slideshow

10 best practices for business owners in the fight against cybercriminals

Denny Jacob | October 04, 2018

Nationwide found that computer viruses (27%) and phishing attacks (25%) were the most frequently reported type of attack.

News

Digital-asset exchange obtains crypto-asset insurance through Aon

Annie Massa| October 03, 2018

The coverage comes through a consortium of insurers globally arranged by Aon Plc.

News

Indonesia rocked by volcano, days after deadly earthquake and tsunami

Yoga Rusmana| October 03, 2018

The Mount Soputan volcano in Indonesia erupted on Wednesday, throwing ash as high as 4,000 meters into the sky,

News

Around the P&C insurance industry: Oct. 3, 2018

Denny Jacob | October 03, 2018

News from Nationwide, Randall & Quilter Investment Holdings Ltd., Philadelphia Insurance Companies and more.

Research

Women vs. men: Who's the better leader for creating a safe work environment?

Phillip Bantz| October 03, 2018

A Pew survey found 43% of respondents said female executives are better than men (5%) at creating safe and respectful workplaces.

News

U.S. set to surpass record number of kids dying in hot cars

Jayleen R. Heft | October 03, 2018

Since January, 48 children have died from being left in hot cars — one death shy of matching the all-time high.

Commentary

How data consortiums impact the accuracy of predictive analytics

Kirstin Marr| October 03, 2018

Unseating an incumbent insurer while lacking the data required to make the most accurate decisions regarding risk selection and pricing is a challenge.

Commentary

Tackling flood damage to dwellings

Patrick D. Kelahan| October 03, 2018

Agents can share this information with clients to remove some of the mystery and fear around recovery efforts.

Best Practices

Volcano sparks eruption of lawsuits on the Big Island

Hannah Smith | October 03, 2018

Volcanic damage, losses from earthquakes and land shocks may not be covered for homeowners.

Analysis

ADAS is driving smarter windshields, but roadblocks loom

Fred Lizza| October 03, 2018

As advanced driver assistance systems take off, there are questions to be answered about claims, calibration and costs.

Spencer's 2019 scholarship and grant applications are now open

Danielle Ling | October 02, 2018

This year's scholarships and grants see enhanced opportunities.

News

Calif. Insurance Commissioner urges diversity in the board room

Danielle Ling | October 02, 2018

Insurance Commissioner encourages greater governing board diversity for insurance companies in California.

News

Death toll tops 1,200 in worst Indonesian quake since 2006

Yoga Rusmana and Viriya Singgih| October 02, 2018

Rescuers are struggling to extricate people buried under buildings that collapsed due to soil liquefaction.

Market Insights

57 million Americans own a side business, yet most lack insurance

Denny Jacob | October 02, 2018

Of those who have not purchased insurance: 91% do not plan to purchase.

Commentary

3 keys to world-class insurance customer service, shared by NCCI

Mark Mileusnic| October 02, 2018

Customers are at the heart of every business’s success and their satisfaction must be a top priority.

News

Uber agrees to pay record $148 million to states over 2016 data breach

Dan M. Clark and Cheryl Miller| October 02, 2018

The settlement is the result of a multistate investigation that found Uber paid hackers $100,000 to conceal the breach.

News

People, places and things: The future of workers’ compensation

Kimberly George and Mark Walls| October 02, 2018

The workers’ compensation industry will look and feel dramatically different in 10 years.

Investigation

Weather-related events and insurance fraud

Gerry Sorge| October 02, 2018

NICB predicts as weather-related events increase in frequency and size, so will fraudulent claims.

Commentary

10 questions brokers should ask clients about 3D printing

Troy R. Bickerstaff| October 02, 2018

Many industries turn to 3D Printing for product and process innovation. But how does this emerging technology affect a company's insurance and liability?

Indonesia's deadly 7.5 earthquake, 20 foot tsunami topples buildings

Yoga Rusmana, Ruth Carson and Thomas Kutty Abraham| October 01, 2018

Rescuers are scrambling to try to find victims in collapsed buildings where voices could be heard screaming for help.

Commentary

Is InsurTech the best carrier investment? Yes, in some cases...

John Sarich| October 01, 2018

InsurTech is key to creating a friction-less customer experience, but what about back-end insurance processes?

News

Who’s using what in P&C insurance: Oct. 1, 2018

PC360 Staff| October 01, 2018

PC360 is at InsureTech Connect this week covering this and more insurance-technology partnership and development news.

Commentary

Simple, effective time management for insurance agents and brokers

Mike Schultz| October 01, 2018

Everyone is looking for ways to achieve more in less time and be more effective at work.

Analysis

Using data to assist in claims decisions

Chris Brew| October 01, 2018

Rising costs for casualty claims require a new approach for assessing severity.

Best Practices

10 tips to prevent chimney fires

Denny Jacob | October 01, 2018

Nearly all residential fires originating in the chimney are preventable.

Commentary

Talking about race in the insurance industry

Margaret Redd and Alexander Amonett| October 01, 2018

We need to debias insurance processes. It's time to address unconscious biases that lean toward racial profiling.

News

Facebook says security breach affected about 50 million accounts

Sarah Frier| September 28, 2018

The breach adds to concerns that Facebook is collecting too much personal information and not looking after it properly.

News

U.K. insurance stocks are sinking

Joe Easton| September 28, 2018

RSA Insurance Group Plc warned this year’s profit has been hit by unfavorable weather at home and in North America.

Market Insights

Fannie Mae and Freddie Mac have $205B of uninsured earthquake risk

Danielle Ling | September 28, 2018

Here's what the risk could mean for taxpayers.

Research

Fraud impacts customer experience beyond financial implications

Denny Jacob | September 28, 2018

A lack of skilled professionals detecting fraud is a challenge for employers, according to TransUnion and Forrester Consulting.

News

Woman injured in attempt to thwart robbery can't sue Geico for bad faith in denying claim

P.J. D'Annunzio| September 28, 2018

A Walmart shopper who tried to stop a robber from escaping with his ill-gotten gains, only to be hit by the getaway car in the process, can't sue Geico for bad faith over denial of uninsured motorist benefits.

Career Moves

People on the move in the P&C insurance industry: Sept. 28, 2018

Denny Jacob | September 28, 2018

News from AXIS Reinsurance, EPIC Insurance Brokers and Consultants, American International Group Inc. and more.

Analysis

Smile — your claimant might be on social media

Allan Stark and Chris McDade| September 28, 2018

Social media intelligence provides carriers with a broader picture of claims issues.

News

Study: Clients need more information about cybersecurity

Elana Ashanti Jefferson | September 28, 2018

The newly-released 2018 Chubb Cyber Risk Survey reveals that most people know cyber threats exist but have little idea about how to address them.

Commentary

Insurers still struggle to track customer claims satisfaction. Why?

Sam J. Friedman| September 28, 2018

Whoever coined the business maxim, “The customer is always right,” probably never had to investigate an insurance claim.

Best Practices

Insuring against employee fraud

Tiffany Couch| September 27, 2018

Many companies are sidelined when employees steal. Here's what you need to know to protect your business.

Research

Drivers rely too heavily on new vehicle safety tech, AAA research finds

Jayleen R. Heft | September 27, 2018

Many drivers are unaware of the safety limitations of advanced driver assistance systems in their new vehicles.

News

Crop insurance agent sentenced to 60 months for fraud

Steven A. Meyerowitz| September 27, 2018

The agent admitted to urging and assisting farmers to file false tobacco crop insurance claims with the FCIC.