Use of Facebook, LinkedIn and Twitter by employees and potential new hires, whether in a personal or professional setting, may influence the number of Employment Practices Liability Insurance (EPLI) claims and lawsuits brought against employers. In the following video, Cathy Padalino, vice president and EPL Product Manager for Chubb, explains that when social media is used […]
J.D. Power today released the 2011 “U.S. Auto Claims Satisfaction Study,” based on more than 11,500 responses from auto insurance customers who filed a claim within the past 12 months. The top 5 insurers surveyed with their satisfaction scores are listed below: 1. Auto-Owners Insurance (890) 2. State Farm (878) 3. Amica Mutual (865) 4. […]
Facebook, Twitter and LinkedIn posts may become part of standard underwriting procedures in the future, according to a Celent report titled “Using Social Data in Claims and Underwriting.” According to a Claims Journal article titled “In Few Years, Social Network Data May Be Used in Underwriting,” As users interact with multiple social networking sites, purchase […]
DRI has an informative post by Joseph E.B. Stewart titled The Top 10 Mistakes to Avoid When Preparing Coverage Opinions. Three common mistakes in writing a coverage opinion, according to the author, include: Failing to confirm that you have all policies issued by your carrier Assuming that all policy forms and endorsements have been provided Failing […]
As a protest over State Farm’s change from billable hours to a flat rate payment for insurance defense work, one attorney who spent 32 years defending the insurer changed sides. Read the full story on Law.com.
SEC informal investigations in securities laws whistleblower matters typically start with a “matter under inquiry” (MUI), which may be later be converted to a formal investigation. More serious matters may simply start at the full investigation stage. An article titled A Newly Assertive SEC, Backed By Whistleblowers, Means Rise In Investigations—And Risks in Property Casualty […]
The Doctors Company, the nation’s largest insurer of physician and surgeon medical liability, announced today that it has agreed to purchase competitor FPIC Insurance Group Inc. Panel counsel for Doctors may be relieved to be on the side of the survivor, while FPIC approved panel members may be jockeying for a position once the firms merge. […]
State Farm recently published a list of its top 10 states in terms of dog bite claims, as reported by the Insurance Journal. The number of State Farm claims, and the total claims cost, is indicated by state below. 1. California, 369, $11.3 million 2. Illinois, 317, $9.7 million 3. Ohio, 215, $5.7 million 4. Texas, […]
A Federal Advisory Committee on Insurance is being established by the U.S. Department of the Treasury. This is one in a series of steps being taken to form the new Federal Insurance Office (FIO). State and tribal insurance regulators will comprise half of the Committee’s membership. Other members will represent various aspects of the insurance industry, including […]
Fraudulent sinkhole claims and increased competition are the targets of legislation passed in the Florida Senate today, according to an Associated Press article posted on Forbes.com. Differences between the House and Senate version of the bill remain to be resolved.