Claims / Legal
Why the LA Wildfires Should Not Have Been a Surprise Loss
The January 2025 LA Wildfires caused unprecedented losses, but those losses should have been anticipated by insurers. The purpose of catastrophe models is to prepare insurers for losses that haven't ...
Uber Alleges Fraud Scheme by New York Groups Faking Car-Crash Injuries
Late last month, ridesharing giant Uber Technologies Inc. filed a racketeering lawsuit against a group of law firms, doctors and pain-management clinics it claims staged fake car accidents and ...
Southern California Edison Probes Possible Link to Los Angeles Fires
Southern California Edison (SCE), a subsidiary of Edison International, said on Thursday that it was probing whether its equipment was associated with the ignition of two Los Angeles-area wildfires ...
TPL – What?!? Consumers Unfamiliar With Plaintiffs’ Bar Strategies
While liability insurance claims professionals are very familiar with the terms "third-party litigation funding" and "jury anchoring," there aren't many average Americans who recognize those phrases, ...
Insurance Payouts at $4B and Counting for LA Wildfires
Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of ...
‘Underwriting Choices’ Added to Everest’s Social Inflation Woes: CEO
Social inflation wasn't the only factor that pushed the loss severity on the U.S. casualty book of Everest Group Ltd. up high enough to prompt a $1.7 billion loss reserve charge, the CEO said earlier ...
Property-Cat Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe ...
Claims Exec Who Defrauded Allied World Insurance Ordered to Prison, Pay $1.2M
James Keating of Paoli, Pennsylvania, has been sentenced to 20 months of imprisonment, followed by three years of supervised release, for defrauding his former employer of more than $1.4 million. ...