5 Reasons Why Veterans Make Great Agency Employees

May 23, 2012

By Kevin McPoyle, CIC, president and co-founder, KMRD Partners, Inc. 

Paul Rieckhoff, founder and executive editor of Iraq and Afghanistan Veterans of America (IAVA), recently reported that 17 percent of returning veterans are out of work. This is more than twice the national unmployment average of 8 percent. What’s worse, the national average is nearly twice what it was before the 2008 financial crisis.  read more..

Assessing Structural Damages After the Storm

Property Claims Following a Tornado, Tropical Storm, or Hurricane

By Thomas A. Mierzwa

May 22, 2012

In the event of a tornado, hurricane, or severe tropical storm, the potential for damage to various buildings and civil structures is significant. This potential increases with various factors, such as the proximity of the storm event to the structure, age, construction quality, engineering, and materials used in construction.  read more..

Time for Claims Transformation

By Karen Furtado

May 24, 2012

It’s time. Time to expand both the thinking and action concerning claims. Time to take things beyond the transaction. The transformation of claims operations is well underway in some insurance organizations while it’s just getting started in others. Progress and needs vary by company size and line of business. But one thing is clear—there are real advantages to be gained with the new possibilities that are now available.  read more..

The Monte Carlo Method for Determining Auto Liability, Part Two

By Tom Morris

May 16, 2012

In Part One, we introduced you to the Monte Carlo analysis, a technique by which an auto collision is evaluated multiple times using a mathematical model. After outlining the basics, we explored an example involving path intrusion from a side street. In the final section of this two-part series, we apply the method to determine liability in a scenario involving a left turn with approaching traffic.  read more..

Fatal Motorcycle Crashes Showed No Improvement Last Year

By Anya Khalamayzer, PropertyCasualty360.com

May 22, 2012

NU Online News Service, May 22, 2:40 p.m. EDT

The strengthening economy and good riding weather may be contributing to disheartening motorcycle-fatality statistics, according to a new Governors Highway Safety Association (GHSA) report.  read more..

A World Without Personal Auto Insurance?

It’s an unlikely scenario—or is it? Celent takes a look at the technology that could change the biggest driver in p&c insurance over the next 15 years.

By Robert Regis Hyle, PropertyCasualty360.com

May 22, 2012 

Can you imagine a world where there are no traffic accidents? What would such a world mean to the hundreds of personal lines insurance carriers that offer personal auto coverage?  read more..

An Inquisitive Claims Culture

The Power of Insatiable Curiosity

By Christopher Tidball

May 14, 2012

ABC News Anchor Diane Sawyer once said that an investigation may take six months, a profile a day. The same holds true when investigating p&c insurance claims. Certainly a quick claim profile can be established, but does it really tell the true story?  read more..

Unloading Confusion: When Is Property ‘Finally Delivered’?

By David Thamann

May 14, 2012

The Commercial General Liability (CGL) form and the Business Auto policy (BAP) contain complementary language when it comes to a claim for injury or damage arising out of loading or unloading property from a motor vehicle. This complementary language is found in exclusions: read more..

Taking Technology by the Horns

Legacy insurance developers adapt to a new technology world, before it’s too late.

By Michael P. Voelker

May 16, 2012

Insurers looking to upgrade legacy systems to modern platforms are faced with the dilemma of whether to bring in developers familiar with new technologies and teach them insurance, or to utilize legacy developers and teach them a new development environment.  read more..

Building IT Systems Like They Used To

Insurance technology leaders give their opinions on whether modern core insurance solutions will have the same type of longevity as legacy systems have offered.

By Robert Regis Hyle, PropertyCasualty360.com

May 4, 2012

As much as insurance technology leaders hate being saddled with legacy policy systems that keep their companies from reacting to changes in a nimble manner, they all seem to have a grudging respect for the 20th century technology that lasted for so long.  read more..

Independent Adjusters Must Be Agile, Responsive

Meeting Diverse Expectations Is An Elaborate Balancing Act

By Melanie Elias

May 9, 2012 

Independent insurance adjusters have many roles when handling property and casualty (P&C) claims.
Retained by insurance carriers to inspect the risk and appraise the damage, adjusters may interview witnesses and coordinate with government agencies, experts, and other contractors hired by the insured to repair the damage.  read more..

The Long, Lethal Shadow of Asbestos

By Ben Berkowitz, Reuters

May 11, 2012 

BOSTON, May 11 (Reuters) - As anyone in the United States with a TV or Internet connection probably knows, lawyers want you if you've been exposed to asbestos, and they're paying to get you.  read more..

Arson Awareness Week Aims To Prevent Youth Firesetting

By Christina Bramlet, PropertyCasualty360.com

May 8, 2012

 

Sunday marked the beginning of Arson Awareness Week (AAW), which is part of a nationwide initiative to educate the public on preventing the loss of life and property stemming from this dangerous crime.  read more..

Top 10 Roadblocks to Fighting Fraud

A Roadmap for Change

By Anthony Roman

May 3, 2012

Our fight against fraud has improved, but the scope of the problem can only be described as enormous. The FBI reports that one in four claims has an element of fraud. Some of us can argue it is much higher. We have successfully formed fraud-fighting special investigation units (SIUs) that have had spectacular individual success. This is a result of talented and aggressive SIU investigators and claims personnel.  read more..

Covering Kid-Run Businesses

By Christine G. Barlow

May 4, 2012

One of the recent videos to go viral is about a 9-year-old boy in Los Angeles who built an arcade out of cardboard. Caine built and designed the machines, has prizes, and offers a fun pass that allows the purchaser 500 plays at the arcade for one month—quite a deal.  read more..

A Snapshot of Legislative Impact So Far

2012 Brings Changes to Underwriting, Claims

By Kathy Donovan

May 4, 2012

Although we are only a little over a quarter of the way through this legislative year, the insurance industry has already seen some significant enacted bills that will impact P&C companies’ policies and procedures.  read more..

Say Goodbye to Paper Checks

Prepaid Cards Save Time, Money

By Contributing Author

May 2, 2012

Are paper checks obsolete as a form of making benefits payments? There is definitely a trend in that direction. One big reason is that paper checks are expensive to produce and process, while prepaid cards help insurers save time and money. Benefits recipients also win with prepaid cards, as they receive faster, safer, more cost-efficient access to their payments. To learn more, read this informative article from FSV.  read more..

Temporary Housing Options During Catastrophic Times

Strong Networks Key To Serving Policyholders

By Contributing Author

May 2, 2012

Over the past few years, the United States has gone through several catastrophic events including tornados, wildfires, and hurricanes. During these events there are many obstacles for the insured as well as the adjusters to overcome, one of which is where the displaced family will live. Immediately following a catastrophic event, families are rushing to locate hotel accommodations as well as determine what longer term housing arrangements might be available for their family.  read more..

The Monte Carlo Method for Determining Auto Liability

By Tom Morris

May 8, 2012 

Determining liability in an auto collision has often been viewed as more of an art than a science. Therefore, it shouldn’t be too surprising that a record number of disputes are being sent to Arbitration Forums for resolution.  read more..

FICO Solution to Combat Insurance Claims Fraud

By Staff Writer

April 26, 2012

FICO, a provider of analytics and decision management technology, announces the availability of a new solution aimed at helping insurers curb insurance claims fraud. The FICO Claims Fraud Solution uses three integrated technologies to identify fraudulent insurance claims faster, in order to help insurers cut general insurance fraud losses that last year reached an estimated $52 billion worldwide, according to research and advisory firm Celent.  read more..

The NFL Draft and Your Organization

By Christopher Tidball

April 25, 2012

With the end of April upon us, it can mean only one thing: the NFL draft. Each year, team owners huddle with their leadership at Radio City Music Hall in hopes of building the foundation for long-term success.  read more..

The Why of Business

Concentric circles of “what, how, why” yield memorable client experiences

By Rick Gilman, APR, CMP

April 25, 2012

I just came from a business luncheon of the local Chamber of Commerce in Maplewood, N.J. This particular lunch saw a pretty good turnout. There was a scattering of real estate agents, a couple of bankers, restaurant owners, representatives of two different community publications (online and print), the local librarian, hair stylists, a few consultants like me, and a handful of newly unemployed looking to get back in the game.  read more..

Tips on Agency Management from the Magic Kingdom

By Laura Mazzuca Toops, PropertyCasualty360.com

April 26, 2012

Last week I blogged about what your agency has in common with the slick 1960s ad agency on "Mad Men." This week we're looking at attributes Disneyland shares with your business  -- and no, it's not a Mickey Mouse operation run by Dumbo and Goofy. (Sorry: I couldn't resist.)  read more..

Actual Cash Value vs. Replacement Cost: Navigating the Policy

By Susan Massmann

April 27, 2012

Standard replacement-cost provisions on Commercial Property forms often offer the insured the option to accept settlement on an actual-cash-value (ACV) basis, but the insured can later opt to receive the replacement-cost amount.  read more..

10 Tips For EUO Success

By Melody S. Mosley

April 24, 2012

Arson is serious business, costing insurers millions of dollars. In the battle against fraud, claims professionals can arm themselves with vital claims investigation tools, including examinations under oath (EUOs) to gather pertinent facts and make informed claims decisions.  read more..

The Value Is In The Service

Housing Claims Solutions for the High-Net-Worth Niche

By Gary Stephen

April 23, 2012 

When a puff back in the chimney of the home of the CEO of a Rhode Island manufacturing company caused extensive damage throughout his family’s elegant 7,200-square-foot Colonial home, his claims adjuster faced a complex case: the smoke damage to the decorative painting on the living room walls would require careful restoration, while the cleaning of a collection of 19th century books would call for an entirely different expert.  read more..