Archive for May 2017
Business News: Smooth Waters, Swiss Re Capital Markets, Willis Towers Watson
RSG Underwriting Managers (RSGUM) announced the formation of Smooth Waters, LLC, an independent marine insurance consultancy and claims adjusting company and part of RSGUM’s growing Marine Practice. Smooth Waters, LLC serves as a consulting and claims adjusting company for the … Source: Claims Journal
Read MorePCI: 9 States Enact Tougher Distracted Driving Laws in 2017
As auto accidents and fatalities increase on America’s roads, 9 states enacted laws and three states have legislation on the governor’s desk to combat distracted driving by strengthening enforcement, increasing penalties and fines, and focusing on education and awareness efforts … Source: Claims Journal
Read MoreUpdate: Insurers Sound Alarm Over Liability Law Restatement; Vote Delayed
Liability insurers, their lawyers and their regulators are holding their collective breath that a scheduled vote this week on a proposed restatement of law regarding liability insurance will not happen. If approved, the controversial restatement would give policyholders more clout … Source: Claims Journal
Read MoreBack-Bay Flooding Plagues Millions in U.S.
Marty Mozzo gets a gorgeous show each night when the sun sets over wetlands near his property on the bay side of a barrier island. When he and his wife bought the house in 2008, she looked at the marsh, … Source: Claims Journal
Read MoreTexas Coast on Alert Due to Rising Sea, Hurricane Threat
Lalo Ojeda has lived with hurricanes all his life. The Houston Chronicle reports he was 14 when Hurricane Carla inundated Galveston Island in 1961. He evacuated as Hurricane Rita barreled toward the coast in 2005, then rode out the devastating … Source: Claims Journal
Read MoreNICB: Texas Leads Nation as Hail Damage Claims Jumped 48% in 2016
Everything is big in Texas, including hailstorms. The National Insurance Crime Bureau (NICB) reported that insurance claims for hail damage in Texas last year exceeded the previous two years combined. Hail damage fluctuates year-to-year, but 2016 was a particularly devastating … Source: Claims Journal
Read MoreTrump’s Budget Cuts Federal Funding for West Coast Quake Warning System
President Donald Trump’s budget proposal would cut federal funding for an earthquake early warning system for California, Oregon and Washington state, a development that seismology experts and some local leaders say would be the end of the project. The system … Source: Claims Journal
Read MorePrivate Insurers Could Gain Access to Federal Flood Program
Democrats and Republicans, who have agreed on little this year, have found common ground on plans to give private insurers greater access to the $5 billion flood insurance program and to offer more buyouts for homeowners in areas likely to … Source: Claims Journal
Read MoreSouth Carolina Limits Cops Firing Into Cars
South Carolina’s top law enforcement officer spotted an alarming trend while reviewing shootings by police in the state: Increasingly, the suspect’s only weapon was the vehicle they were driving. Shooting at a driver is risky. It’s hard to hit a … Source: Claims Journal
Read More$95.6M Awarded to Philadelphia Building Collapse Survivor
An arbitrator has awarded $95.6 million to a Ukrainian immigrant who was seriously injured in a 2013 Philadelphia building collapse. Mariya Plekan’s attorney, Andrew Stern, announced the division of the $227 million settlement on Thursday. Lawyers for 19 people killed … Source: Claims Journal
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