Claims & Reserving
When & Where Apologies Make Sense In Insurance Claims Situations
Despite the prevalence of apologies—think Lance Armstrong, Tiger Woods, Mel Gibson and Bill Clinton—the idea of offering an apology as a result of a claim is rarely considered in the insurance ...
Crop Insurance Subsidies Should Be Reduced: Economist
U.S. farmers have collected a record $17 billion in crop insurance payments on drought-hit 2012 crops but the system could have spent half as much and still saved growers from ruinous losses, an ...
Retailers to Compensate Victims of Bangladesh Factory Disaster
Two Western retailers have promised to compensate families of garment workers killed while making their clothes in a Bangladesh factory building that collapsed last week in the country's worst ...
Penn State to Newtown to Boston: Victim Compensation Expert Feinberg Gets the Call
His work has immersed him in events that read like a roster of recent catastrophes, from 9/11 to the Gulf oil spill. Now, Kenneth Feinberg is adding the Boston Marathon bombings to that list. The ...
U.S. P/C Industry 2012 Income $33.5B In Spite Of $32B In Cat Losses
U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate—in part because ...
Fitch Commercial Lines Analysis: Workers’ Comp Weak; Med Prof Deteriorating
Accident-year loss ratios for all major commercial insurance lines except medical professional liability insurance improved in 2012, but none of them produced an accident-year underwriting profit ...
Florida Sues BP On 3-Year Anniversary Of Oil Spill
Florida's attorney general has filed a lawsuit against BP and Halliburton on the three-year anniversary of the 2010 Gulf oil spill. Pam Bondi filed the 40-page lawsuit Saturday in federal court in ...
PwC’s Latest Securities Litigation Study Confirms Downward Trends
While the first three quarters of 2012 saw an average of 46 cases, securities litigation filings decreased dramatically in the fourth quarter, to 33 cases—the lowest level since the 30 cases filed ...