Claims professionals will be among the 3,800 planned layoffs, according to an Allstate news release dated September 30, 2020. Sales, service, and support personnel are also included in the staff reductions. Allstate panel counsel law firms will want to monitor implications for their case files. Allstate Chief Executive Thomas Wilson said of the layoffs, “somewhere […]
Travelers Panel Counsel Insights
COVID-related insurance claims were a key focus of the second quarter report filed by The Travelers Companies, Inc. with the U.S. Securities & Exchange Commission on July 23. According to the report, Travelers panel counsel members have probably seen an increase in early COVID-related claims in the following areas: Hospital workers collecting workers’ compensation benefits […]
Retail Panel Counsel Claim News
Slip and fall claims are falling along with the shopper’s feet that beat a path to retailer’s doors. Retail panel counsel members are sure to notice the shrinkage in claim levels. As e-commerce growth is accelerated by a surge of COVID-19 work-from-home buyers, dozens of traditional brick-and-mortar retailers are filing for bankruptcy in 2020. The […]
News Items for Chubb Panel Counsel Members
Chubb’s Pandemic Business Interruption Program is one initiative that Chubb panel counsel members may want to follow. The world’s largest publicly traded property and casualty insurance company is proposing a that a public–private partnership (PPP) can help businesses be better prepared for the next pandemic. Key features of the Chubb PPP proposal include the following: […]
Allstate to Acquire National General
Allstate is growing market share with its plans to acquire National General Holdings Corporation in a $4 billion cash deal expected to close in early 2021. The Allstate Corporation is the nation’s largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, and Answer Financial brand names and Allstate Financial […]
Global Hawk Insurance to Liquidate
A Vermont Superior Court issued a liquidation order for Global Hawk Insurance Company Risk Retention Group on June 8, 2020. The Commissioner of the Vermont Department of Financial Regulation is named as Liquidator. Any proof of claims against Global Hawk must be filed by December 8, 2021. As of April 30, 2020, court records indicate […]
Lemonade Initial Public Offering Filed
Paying insurance claims in three seconds using artificial intelligence is one way that Lemonade, Inc. intends to gain a competitive advantage in the market for renters and homeowners insurance, according to the Lemonade initial public offering filed with the SEC on June 6, 2020. Formerly known as Lemonade Group, Inc., Lemonade, Inc. was incorporated as […]
Retail Panel Counsel Alert Post-COVID
Distressed retailers are at risk of failure or severe injury due to the COVID-19 pandemic. Retail panel counsel law firms in the insurance defense sector will want to accelerate their business development to mitigate revenue risk associated with the coronavirus threat. Listed below are a few of the leading national retailers that are in the […]
News of Interest to AIG Panel Counsel Members
AIG (American International Group, Inc.) filed its Form 10-K for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission on February 21, 2020. AIG panel counsel members may want to review the document to learn about AIG’s 2019 results as well as future initiatives, particularly in regard to the U.S. property […]
Coronavirus Law Firm Marketing Plans
Strong communications between law firms and their clients are particularly important during this COVID-19 pandemic. As a business owner myself and a law firm marketing consultant, I thought it might be helpful to suggest some guidelines on how to build an effective coronavirus law firm marketing plan for communications. #1. The “What,” “When,” and “How” […]
