Archive for March 2017

Six Arrested in Virginia Insurance Fraud Scheme Involving 30 Fires Virginia prosecutors say six people have been arrested for their alleged roles in an insurance fraud scheme that involved setting 30 fires. Federal prosecutors say the defendants over the course … Source: Claims Journal

New data from the latest Farmers Seasonal Smarts Digest reveals that 60 percent of all comprehensive hail claims occur between March and May. Drivers from California to Virginia, and everywhere in between, should be aware of the potential for hail … Source: Claims Journal

Before the first snow fell, U.S. meteorologists realized there was a good chance the late-winter storm wasn’t going to produce giant snow totals in big Northeast cities as predicted. But they didn’t change their forecasts because they said they didn’t … Source: Claims Journal

The Queen Mary is so corroded that it’s at urgent risk of flooding or collapse, and the price tag for fixing up the 1930s ocean liner could near $300 million, according to a survey done by experts. It would likely … Source: Claims Journal

The Trump administration is delaying a new rule tightening safety requirements for companies that store large quantities of dangerous chemicals. The rule was imposed after a fertilizer plant in West, Texas, exploded in 2013, killing 15 people. Scott Pruitt, administrator … Source: Claims Journal

Overall customer satisfaction among homeowners filing property insurance claims has reached a new all-time high, according to the J.D. Power 2017 U.S. Property Claims Satisfaction Study. This surge in insurance customer satisfaction corresponds with a 10-year high in catastrophic events, … Source: Claims Journal

Verisk Analytics estimates that personal lines automobile insurers face at least a $29 billion annual problem from premium leakage—omitted or misstated underwriting information that leads to inaccurate rates. According to the Verisk report, sources of personal auto premium leakage in … Source: Claims Journal

New Yorkers just got a lesson on how notoriously difficult it is to predict the severity of an East Coast snow storm. All it takes is a wobble in a low-pressure system’s trajectory or a sudden shove of warm air … Source: Claims Journal

Older drivers are increasingly comfortable with and recognize the benefits of active safety technology, but they are still reluctant to relinquish total control to an autonomous vehicle, according to a nationwide survey by Munich Re, US of drivers age 65 … Source: Claims Journal

The annual auto insurance fee Michigan drivers pay toward caring for people catastrophically injured in crashes is rising to $170, a $10 increase. The Michigan Catastrophic Claims Association announced Monday the new per-car assessment for the 12 months starting July … Source: Claims Journal