Jim Sams, Author at Carrier Management

Bankruptcy Judge Lets Directors of Failed SVB Tap $210M D&O Tower

A bankruptcy judge is allowing current and former officials with the parent company of Silicon Valley Bank to tap into the $210 million in insurance coverage available through directors and officers ...

LexisNexis: Auto Claim Severity Up 35% Over Pre-Pandemic Rates

Claim severity for both bodily injury and property damage increased by 35 percent since 2019, while collision claim severity has jumped 40 percent, LexisNexis Risk ...

Clear Intent to Exclude Named Storms Not Enough to Deny Coverage

In 2015, the Shiloh Christian Center in Melbourne, Fla., cut its property insurance premiums in half by asking its insurer to drop coverage for named windstorms.

Is a Scooter a Vehicle? Appeals Court Says ‘Yes’ and State Farm Must Pay UM Claim

State Farm must pay an uninsured motorist claim for injuries caused by an electric motor scooter even though the scooter didn't match the definition of "motor vehicle" in ...

APCIA Says Property Insurance Market ‘Hardest in a Generation’

A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the ...

Louisiana Supreme Court Reverses; No Coverage Owed for COVID Shutdown

The Louisiana Supreme Court has joined state high courts across the nation in rejecting a policyholder's business interruption claim for income lost because of government ...

Heavier Vehicles, Distracted Drivers Impacting Claim Severity: CCC Intelligent Solutions

Roadways in the U.S. are carrying heavier, more powerful vehicles operated by motorists who are older, driving faster and more often distracted, according to CCC ...

Insurers Leery of Hyundais and Kias Famous on Social Media for Being Easy to Steal

Social media influencers and an insurance industry think tank are giving Hyundai and Kia vehicles the worst kind of publicity: Many of the cars the company sold are easy ...

No Ransomware Cover in BOP Policy, Ohio Supreme Court Rules

A businessowners insurance policy did not provide coverage for software damaged by a ransomware attack because there was no direct physical damage or loss, the Ohio Supreme Court ruled. "Computer ...

Attorneys: Ransomware a Multi-Layered Risk for Policyholders

The evolution of ransomware is bringing a wider range of risks to insurance policyholders, with new government regulations, exfiltration of data and state-sponsored ...