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Buyer’s Market Brewing for Cars Deemed Total Losses After Hurricanes
The ink on the “total loss” insurance paperwork, like the 2007 Range Rover itself, was still wet when Morgan Moran began trying to buy his vehicle back after Hurricane Matthew last year. The insurance adjustor had declared the vehicle ruined … Source: Claims Journal
Read MoreBusiness News: Berkley Re Solutions, Roost, Pie
Berkley Re Direct Renamed Berkley Re Solutions Berkley Re Direct announced today that it has changed its name to Berkley Re Solutions. On the evolution of the operating unit’s name. The culture at Berkley Re Solutions encourages all employees to … Source: Claims Journal
Read MoreSenators Consider Bill to Exempt Some Safety Standards on Self-Driving Cars
A bill to clear away obstacles to a new era of self-driving cars is facing opposition from safety advocates who say it would give automakers free rein to put unsafe vehicles on the road. A Senate panel was scheduled to … Source: Claims Journal
Read MoreAfter Hurricanes White House Seeks $29B Disaster Aid Package
The Trump administration is finalizing a $29 billion disaster aid package that combines $16 billion to shore up the government-backed flood insurance program with almost $13 billion in new relief for hurricane victims, according to a senior administration official and … Source: Claims Journal
Read MoreTropical Depression Raises Gulf Coast Hurricane Threat
A tropical depression that could grow into a hurricane is forecast to strike the U.S. Gulf Coast late Sunday, potentially shutting down offshore oil and natural gas rigs and dealing another blow to citrus growers. The system off the Nicaraguan … Source: Claims Journal
Read MoreAerial Imaging, Machine Learning Speed Hurricane-Related Damage Assessments
In the wake of three devastating hurricanes this season, many carriers and vendors used drones and airplanes to assess structural storm damage in several states. The use of aerial imaging combined with machine learning has led to speedier claims resolution, … Source: Claims Journal
Read MoreUse of Aftermarket (Non-OEM) Crash Parts in Repair of Damaged Vehicles
According to a 1999 study commissioned by the Alliance of American Insurers (AAI), if you were to build a $25,000 vehicle using only Original Equipment Manufacturer (OEM) parts, it would cost you over $100,000. When repairing vehicles damaged in accidents, … Source: Claims Journal
Read MoreA Crack of the Bat. A Blow to the Head. Now Who Pays the Bill?
Baseball is timeless. Is the Baseball Rule? The century-old legal doctrine blocks fans from suing a ball club if they get hurt by a foul ball or a shattered bat. The reason: Fans accept the risk of injury at a … Source: Claims Journal
Read MoreCooler Temps Prompt Police Warning of Increased Pedestrian Risk
As the season changes and the days grow shorter, law enforcement and safety officials are reminding motorists and pedestrians that fall is one of the most dangerous times of the year for people to cross streets and roads. The advisory … Source: Claims Journal
Read MoreEyewitness to Destruction, Hope: TOPA Insurance CEO Shares Caribbean Hurricane Experiences
When Topa Insurance Group President and CEO John Donahue arrived in the U.S. Virgin Islands (USVI) just a few days after Hurricane Irma hit, one of the first things he noticed aside from the utter devastation was the look in … Source: Claims Journal
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