Bodily injury, property damage, collision severity and other measures of auto liability claims increased in 2022, according to the 2023 U.S Auto Insurance Trends Report recently published by LexisNexis® Risk Solutions. Specific measures for 2022 auto liability claims are as follows: More than a quarter (27 percent) of collision claims in the first nine months […]
Dog Bite Claims Hit Homeowners Insurance
The cost of a dog bite claim jumped significantly between 2021 and 2022, with the average claim value approaching $65,000 in 2022, up from $49,000 the previous year. Dog bite claims and other canine-related injuries resulted in liability claims under homeowners insurance policies totaling more than $1.136 billion in 2022, according to State Farm® and […]
Panel Counsel Cybersecurity Considerations
Litigation panel managers at P&C insurance carriers are increasingly focused on the cybersecurity practices followed by panel counsel law firms. This article reviews recent law firm data breaches and identifies industry best practices for panel counsel cybersecurity. Law Firm Cybersecurity Attacks Cybersecurity attacks targeting law firms have been increasing in numbers and severity in recent […]
What to Expect in a Panel Counsel Application
If you are asking how to get on an insurance defense panel, one of the common first steps after you have made your initial introduction is to respond to a Request for Information (RFI) or a Request for Proposal (RFP). This article identifies some of the leading questions you can expect in a panel counsel […]
United P&C Enters Liquidation
All insurance policies issued by United Property & Casualty Insurance Company (“UPCIC”) are cancelled as of March 29, 2023, according to the Florida Department of Financial Services. There is one exception for flood insurance policies. The action follows a Florida court order that the Florida Department of Financial Services assume the role of receiver of […]
Florida Tort Reform Enacted
Governor Ron DeSantis signed House Bill 837, Civil Remedies, into law on Friday, March 24, 2023. The bill took effect upon signing. This far-reaching Florida tort reform act contains major provisions as outlined below. The federal standard of eliminating attorney’s fee multipliers is adopted and the law provides that one way attorney fee provision can […]
Get on an Insurance Panel in 2023
If you want to become panel counsel for an insurance carrier or self-insured corporation, you have come to the right place! We have helped more than 250 defense law firms in 40+ states with business development campaigns covering all lines of property and casualty (P&C) insurance, from auto to workers’ compensation. If you want to […]
Cybersecurity Insurance Panel Opportunities
Cybersecurity and data privacy remain a growth area as ransomware and data breaches continue to threaten businesses, healthcare providers, and government agencies on a daily basis. The potential to get on a cybersecurity insurance panel continues to expand since I wrote on this topic in a January post titled, “Cyber Insurance Panel Potential.” As the […]
Auto Insurance Premiums Rise with Inflation
Auto insurance carriers are grappling with inflation trends, according to a recent report by the American Property Casualty Insurance Association (APCIA) titled, “The New Normal? Auto Insurers Continue to Struggle with Inflation.” With the U.S. inflation rate at its highest level in 40 years, inflation is pushing up costs for auto insurers when it comes […]
United Property & Casualty to Exit FL, GA, LA, and NY Markets
United Property & Casualty plans to withdraw its personal lines coverage in Florida, Georgia, Louisiana, and New York, according to a company news release issued on August 25, 2022. UPC, a subsidiary of United Insurance Holdings Corp. (UIHC), is a homeowners insurer operating in the coastal states of Florida, Georgia, Louisiana, New York, North Carolina, […]
