Spotting the unseen menace: Medical provider fraud, waste, and abuse

Although the insurance industry is constantly plagued by suspicious claims activity, the unseen menace that’s leading to diminished profits is medical provider fraud, waste, and abuse. With a total of $30 billion lost to claims fraud each year in the property/casualty insurance arena, 80 percent of that figure—or a whopping $24 billion—is attributed to medical […]

In uncertain times, look to cut costs

Personal injury claims reform has been put off again, and whether the new government will pursue reform is unclear. When the Prisons and Courts Bill 2016-17 (HC Bill 170) was scrapped, so were fixed tariffs to cap compensation payouts for whiplash injuries. That’s a blow to efforts to eliminate fraudulent and exaggerated claims from the […]

Now that the discount rate has changed, what’s next?

Insurers are still reeling from the drastic change in the discount rate that went into effect 20 March 2017. The rate is used to adjust lump-sum compensation payments according to the interest that claimants are expected to earn by investing it. Historically, the rate has adjusted settlements down, but poor returns on investments have led […]

ISO Recognised for Supporting the Industry at the 2017 Modern Claims Awards

Modern Claims Magazine is a leading UK trade journal, and its annual awards are judged by a diverse panel of experts from across the insurance industry. That’s why ISO is honoured to be recognised with the Supporting the Industry Award at the 2017 Modern Claims Awards. Congratulations are due especially to ISO’s Simon Bradshaw and […]

PCS-Mobile now available for Android and iPhone

PCS-Mobile is now available for Android as well as iPhone users. The app gives claims professionals convenient access to real-time information about catastrophes and impending severe weather events. PCS-Mobile provides essential data that users can access on the road, in the field, or at the office, including: daily severe weather summaries catastrophe bulletins storm and […]

The pros and cons of solar panels

There are many ways to “go green”—vegetative roofs, lightweight construction materials, insulating materials, and photovoltaic (PV) solar panels are among the most popular. But what are the pros and cons of solar panels for the average property owner, firefighters, and insurers? A photovoltaic solar panel system supplies usable solar power through the direct conversion of […]