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The Senate Subcommittee on Disaster Management will hold a hearing this afternoon titled Examining the InsuranceIndustrysClaims Practices Following Recent Natural Disasters. Among those testifying is Mike Fiato, Executive Vice President and Chief Claims Officer at Allstate.
The Senate Subcommittee on Disaster Management will hold a hearing this afternoon titled Examining the InsuranceIndustrysClaims Practices Following Recent Natural Disasters. Among those testifying is Mike Fiato, Executive Vice President and Chief Claims Officer at Allstate.
The latest revelations about Allstates use of artificial intelligence (AI) in drafting insuranceclaims emails should serve as a wake-up call for policyholders, insurance regulators, and insuranceindustryclaims handlers.
The latest revelations about Allstates use of artificial intelligence (AI) in drafting insuranceclaims emails should serve as a wake-up call for policyholders, insurance regulators, and insuranceindustryclaims handlers.
As someone who has insured my car in Germany for over 20 years and spent a decade working as an insurance agent, I’ve seen the ins and outs of the car insuranceindustry. Whether you’re a citizen or an expat living in Germany, understanding how to process a car insuranceclaim is important.
And he may be the best friend the Florida property insuranceindustry has. He’s been called “eccentric,” a “do-gooder,” a “troublemaker” and a whistleblower. A mechanical engineer based in Edgewater, George Miles has filed formal complaints with the Florida Board …
Insurance affordability in Georgia is dwindling as claim frequency and insurer costs soar, according to the latest issue brief from Insurance Information Institute (Triple-I), Trends and Insights: Georgia Insurance Affordability. Injury claim severity in the state is slightly higher than in the rest of the country.
This event would not be possible without the generous support of our sponsors Steadfast Claims Services and icare. The function starts at 6pm, with the awards portion running for approximately 1 hour, during which 6 awards will be presented. The event is a not for profit one with all proceeds going to the Amal Mulia Orphanage.
Today marks LMI Group’s quarter century of service to the insuranceindustry and wider communities. May 2002: First of now 17 books on insurance and risk management launched. The first was Business Interruption Insurance and Claims soon to be printed in its 6th Edition. March 2003: LMI Sydney office opens.
Overall, this and other key report findings revolve around the value of proactive measures for effective preparedness and mitigation strategies to address the increasing risks posed by severe weather events and the need for collaboration between homeowners, insurers, and governments to enhance resilience against natural disasters.
One of the most challenging and unpredictable issues facing the insuranceindustry lately is social inflation. This trend describes the phenomenon of unexpected rising insuranceclaim costs because of societal trends and views toward litigation. Educate policyholders about challenging hard market conditions.
This article includes a National Conference of Insurance Legislators map showing states with pending third-party litigation funding (TPLF) legislation. Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.
Shield Insurance Agency in Hudsonville, MI is now hiring! Now Hiring Insurance Customer Service Rep and Account Manager Duties: Provide timely, professional, accurate, communication to clients, your team, carrier representatives, and underwriters.
It empowers individuals to make informed decisions about insurance coverage and understand their policy rights. Consumer education ensures that individuals are prepared and protected with the proper insurance coverage and are knowledgeable about the claims process. Leads to confusion and potential gaps in coverage.
Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insuranceindustry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market. Hurricane Harvey 2017 92.0
Learn about the use of modern electronic communication in the insuranceindustry. Read now » Related Content Electronic Contracts Review the legal issues arising from the formation of contracts using electronic recording technology rather than written paper documents.
Subrogation is more than just a fancy insurance term – it’s a right held by your insurance carrier under your policy that allows them to seek reimbursement from the party found responsible for the accident after they’ve paid a claim for a covered cause of loss. WHAT IS A WAIVER OF SUBROGATION?
Review 2024 regulatory initiatives on artificial intelligence (AI) that are important for the insuranceindustry to understand and monitor going into 2025. Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.
However, when implemented strategically, insurance telemarketing can be a powerful tool in your overall marketing strategy, fostering rapport through real-time conversation and human connection. In the following article, we’ll share how insurance telemarketing can drive leads, sales, and customer retention in the insuranceindustry.
Q&A features In-depth content is vital to establishing your company as a respected resource within the insuranceindustry. Feel free to include these common questions: When should I update my life insurance coverage? Under what circumstances should I file an auto insuranceclaim? Insurance jokes or quotes.
. – Access to Specialist Knowledge : Referral partners often have niche expertise that can illuminate complex commercial property risks and insurance solutions. – Speed and Efficiency : Dealing with complex commercial property insuranceclaims becomes easier when partners streamline processes and expedite responses.
Increased insurance costs: Businesses affected by frozen pipes or sprinkler system issues may need to file insuranceclaims for repair and restoration expenses, potentially resulting in elevated insurance premiums in the future.
THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations.
The insuranceindustry is undergoing a digital transformation, and staying competitive requires innovation across every operational area. Traditional loss inspections are slow, manual, and prone to human errorfactors that can significantly hinder an insurers efficiency and customer satisfaction.
DOGE-Like Effort in FL Could Impact InsuranceIndustry The wave of government efficiency housecleaning thats swept through the federal government has now reached the state government of Florida. If enacted, it could impact property-casualty insuranceclaims and litigation in the state.
In today’s rapidly evolving world, the insuranceindustry stands at a critical juncture. Zywaves new Navigating the Escalating Risk Trajectory Report provides a comprehensive analysis of these dynamic forces, urging insurers and brokers to adapt swiftly and strategically.
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