Risk Management

PCS Commercial Lines Catastrophe Planning and Response Report is released

Property Claim Services ® (PCS ® ) has published a new benchmarking study, the PCS Commercial Lines Catastrophe Claims Planning and Response Report . This report details results of a survey of industry participants on...

Mississippi House Bill 525

Mississippi Governor Phil Bryant signed House Bill 525 into law on April 11. The law requires motorists who have had their licenses suspended to provide a certificate of insurance to the Department of Public Safety in...

Oklahoma House Bill 2473 - Insurance Verification

Oklahoma Governor Mary Fallin signed House Bill 2473 into law on April 19. Under the new law, when a motorist is pulled over by a law enforcement official during a traffic stop, the officer must attempt to verify auto...

Another successful forum!

Engineering and Safety Service (E&S ™ ) held our annual E&S Loss Control Executive Forum on April 6–8 in Tampa, Florida, and it was a great success. Forty senior-level loss professionals and guests from more than 30...

May 2016 Preview: Historical Catastrophe Activity

To the U.S. insurance industry, the month of May signals that hurricane season is right around the corner—with claims teams preparing for an unpredictable next few months. Significant catastrophe activity has occurred...

Idaho law will penalize insurers who don’t report personal auto policies

Idaho Gov. Butch Otter signed Senate Bill 1283 into law on March 23. The law authorizes the state to penalize insurers who don’t report new or renewed personal auto insurance policies to the state. This data is loaded...

Blockchain, IoT, and Streamlined Claim Handling

At the Uniglobal Insurance Claims Management Conference, I heard a lot of doom and gloom about the future of claim handling—and the future of the insurance industry in general. New business models are poised to enter...

Top ILS Market Trends: Q1 2016

We’ve put another record-setting quarter  for catastrophe bond issuance behind us, with $2 billion in fresh capital coming to market. In some ways, the first quarter of 2016 offered more of the same, with no first-tim...

Blockchain, Smart Contracts, and Index Triggers: Count the Frictional Costs As They Disappear

Is the insurance industry watching developments in blockchain  technology? Some of our folks in the market are, but it’s pretty clear to me that the focus is the other way around. The blockchain community has its eye ...

April 2016 Preview: Historical Catastrophe Activity

Between 1950 and 2013, the month of April saw more violent tornadoes—EF4 and EF5—than any other month. Over the past ten years, there have been 267 tornadoes on average in April in the United States. The April 2011...