Archive for June 2016

The Legislature is close to repealing an annual tax break worth tens of millions of dollars that was inadvertently given to auto insurers four years ago, a move agreed to as part of a state budget deal. The Republican-led House … Source: Claims Journal

Continued Zika virus warnings may dampen summer sporting events, such as the Summer Olympics which is set to be hosted by Rio de Janeiro in August, as insurers weigh the risk of insuring such events in the midst of another … Source: Claims Journal

The swollen Seine River kept rising Friday, spilling into Paris streets and forcing one landmark after another to shut down as it surged to its highest levels in nearly 35 years. Across the city, museums, parks and cemeteries were being … Source: Claims Journal

California’s Modesto Metropolitan Statistical Area (MSA) had the nation’s highest per capita vehicle theft rate in 2015, according to the National Insurance Crime Bureau’s (NICB) latest Hot Spots report. Moreover, California owned eight of the top 10 hot spots for … Source: Claims Journal

The push by U.S. auto safety regulators to replace potentially dangerous Takata air bag inflators in millions of vehicles is running into resistance from General Motors Co, documents released on Thursday show. GM’s response highlights the challenges that the Takata … Source: Claims Journal

The Atlantic should produce a near-normal 12 storms during the six-month hurricane season that officially begins Wednesday, while the U.S. coastline has a below-average chance of being struck by a major system, according to Colorado State University’s forecast. Of the … Source: Claims Journal

Lloyd’s of London said that at least 34,000 jobs in the city’s commercial insurance industry are at risk if Britain votes to leave the European Union, with some companies drawing up plans to relocate outside of the U.K. Further job … Source: Claims Journal

BP Plc said it agreed to pay $175 million to settle claims by U.S. investors that its managers lied about the size of the 2010 Gulf of Mexico oil spill to prop up its stock price, removing the company’s last … Source: Claims Journal

As energy, transportation, telecommunication and manufacturing companies become more reliant on automation, robotics and connected networks, they are also increasingly vulnerable to cyberattacks. Rather than stealing data, cyberattacks on critical infrastructure and manufacturers are more likely to target industrial control … Source: Claims Journal

High complexity claims account for the majority of dollars spent in workers’ compensation claims. One way to identify high exposure claims early is by using predictive analytics. Using analytics, carriers can spot problem cases and direct them to a more … Source: Claims Journal