Claims
For insurers, a map to more accurate insurance classifications
Verisk's new PAAS Explorer can save insurers time and help prevent premium leakage.
For insurers, Q1 2022 brought underwriting gains, inflation concerns
While Q1 2022 brought underwriting gains for P/C insurers, inflation continued to create significant challenges for insurers.
The U.S. Eleventh Circuit Court of Appeals applies a four-year statute of limitations to an MSP private cause of action claim – dismisses action as untimely
In an important new MSP decision, the U.S. Circuit Court of Appeals for the Eleventh Circuit in MSPA Claims 1, LLC v. Tower Hill Prime Insurance Co.
Are we headed back to the future?
Recent reports of inflated vehicle market values, exorbitant loan-to-value ratios
How short-on-time insurers can keep accelerating program updates
Verisk's newly enhanced Filings tool is designed to make the most of an insurer's time.
Getting a handle on rising claims litigation costs and frequency
Litigation continues to be a major contributor to rising claims costs, and the issue is only getting worse.
Illinois enacts the “Consumer Legal Funding Act” -- new law regulates various aspects of third-party litigation funding practices
In a significant development on the TPLF front, on May 27, 2022, Illinois Governor J.B. Pritzker (D) signed into law the Consumer Legal Funding Act.
Delaware’s State Senate passes concurrent resolution encouraging the Delaware Judiciary to study possible third-party litigation funding (TPLF) disclosure rules
In an interesting development to watch, on June 28, 2022, the Delaware State Senate passed Delaware Senate Concurrent Resolution No. 127.
Claims commitment: Empowering insurers on the innovation journey
The insurance industry has experienced tremendous change in the past few years.
The RAMP Act is introduced in Congress – proposed bill aims to repeal Medicare’s private cause of action (“double damages”) statute
In a major MSP compliance development, the RAMP Act was introduced into the United States House of Representatives on June 14th.
Are property owners and insurers ready for the next big earthquake?
The big question facing many insurers and policyholders is: Are we equipped for these rare-but-devastating disasters?
New ways of accessing policy information speeds claim settlements
Claim handlers spend a lot of time on the phone trying to get third-party policy information for subrogation purposes or to validate coverage.
Why injury analytics aren’t just for soft-tissue claims
Rising injury claim severity is presenting insurers with significant challenges. Not only are these claims more costly, but they’re often more complex.
COVID-19 and Workers’ Compensation in 2022: Legislative Update and Clearing Presumption of Coverage Hurdles
After two years, COVID-19 continues to impact workers’ compensation claims. In previous entries, we provided a broad look at the industry.
How can changes in home ownership and occupancy create hidden risks?
Knowing a property's history, including changes in ownership and occupancy, is essential to paint a vivid picture of a property's condition.