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PropertyCasualty360

PropertyCasualty360 PropertyCasualty360.com is the comprehensive online destination for P&C insurance sellers and buyers providing insurance news, analysis and market trends.

PC360 is an ALM publication (ALM.com).

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"The Delaware Supreme Court’s evisceration of the 'fundamentally identical' standard and mandate that the issue of relat...
06/03/2022
Delaware high court makes decision on ‘relatedness’ of D&O claims | PropertyCasualty360

"The Delaware Supreme Court’s evisceration of the 'fundamentally identical' standard and mandate that the issue of relatedness of claims must be decided by the plain language of the insurance policy at issue make First Solar a significant decision that will impact many insurance coverage disputes and litigation for years to come." http://ow.ly/nXil50Jpzhx

The 'First Solar' decision is significant, and puts the focus of the analysis of whether claims are related in its proper place.

06/03/2022

"It’s a close-knit firm at AXA XL, not only within claim but with our business partners and in many cases with our clients, and the claim team’s feedback during this time that we all felt connected." - AXA XL's Jim DiVirglio on adapting during the pandemic. http://ow.ly/G9ZH50JoGE6

WEBCAST: Making AI Your Most Powerful Customer Experience ToolJoin us June 14 to discover how process automation through...
06/03/2022

WEBCAST: Making AI Your Most Powerful Customer Experience Tool

Join us June 14 to discover how process automation through AI can increase retention of customers through improved engagement and fewer interruptions, as well as better empower employees with increased business agility. (Sponsored by Talkdesk)

http://ow.ly/ZrOE50JoBJm

06/02/2022

"So much of how we did our jobs was impacted by the pandemic – the way we worked, the way we utilize technology, the way we kept our talent together, the way we resolved claims, the interactions with our customers and our brokers and vendors. It was really a new way of delivering service." - Jim DiVirglio, AXA XL http://ow.ly/CQ7050JoGlm

Looking beyond state courts to the federal court system, the U.S. Court of Appeals for the Seventh Circuit became the la...
06/02/2022
Another COVID BI claim rejected by state appellate court | PropertyCasualty360

Looking beyond state courts to the federal court system, the U.S. Court of Appeals for the Seventh Circuit became the latest federal appeals court to hold that pandemic-related business losses do not constitute ”physical loss of or damage to property” covered under business interruption insurance policies in April 2022. http://ow.ly/TkEj50Josrr

Every other federal appeals court to address the issue thus far has reached the same conclusion.

Contractors in the past have been able to recover their attorney fees from insurers if they are successful in the lawsui...
06/02/2022
Florida contractors file constitutional challenge against new insurance law | PropertyCasualty360

Contractors in the past have been able to recover their attorney fees from insurers if they are successful in the lawsuits, a concept known as “prevailing party fees.” But the new law stripped contractors of being able to recover prevailing-party fees when they are assigned benefits. http://ow.ly/hEbV50JorzR

The new law stops contractors from being able to recover prevailing-party fees from insurers when they are successful in lawsuits.

While the more sensational tragedies are the ones that make national headlines, the reality of water parks is that they ...
06/01/2022
The 7 most dangerous water park risks | PropertyCasualty360

While the more sensational tragedies are the ones that make national headlines, the reality of water parks is that they deal with a plethora of visitor injuries on a daily basis, ranging from bumps and bruises to more serious incidents. http://ow.ly/5Sw150Jnza4

Water park managers and visitors alike should be on the lookout for these common risks.

"In today’s turbulent marketplace, insurers need all the information they can get to accurately price policies to suppor...
06/01/2022
How property insurers can stay ahead of soaring inflation | PropertyCasualty360

"In today’s turbulent marketplace, insurers need all the information they can get to accurately price policies to support insurance-to-value and help protect policyholders. That means having access to current, highly refined monthly pricing, based on historical claims and research with contactors out in the field." http://ow.ly/tgCR50JnxWu

For insurers in a time of extreme unpredictability, having accurate, reliable monthly pricing is a must.

Many leaders have long sought to shrink Citizens because of concerns about policyholders across the state, including tho...
05/31/2022
Issues with Citizens not addressed in Florida special session | PropertyCasualty360

Many leaders have long sought to shrink Citizens because of concerns about policyholders across the state, including those who are not Citizens customers, potentially being on the hook to help pay claims if Florida gets hit with a major hurricane or multiple hurricanes.

http://ow.ly/RSz650JmaVJ

Citizens Property Insurance Corp. is a politically sensitive issue, as many homeowners in areas such as heavily populated South Florida have few...

"Agile, intelligent and evergreen are fundamental building blocks of a resilient and successful insurance business."Agil...
05/31/2022
Insurance technology is helping carriers solve many challenges. | PropertyCasualty360

"Agile, intelligent and evergreen are fundamental building blocks of a resilient and successful insurance business.

"Agile means being able to flex proactively and quickly with the business, product, and service expectations and needs of consumers. Intelligent is making the best use of data and analytics to determine what areas need change and where automation is optimal. Evergreen refers to the desire and need for companies to keep technology stacks current and avoid technical debt, which allows them to increase the value of their investment through innovations from partners."

http://ow.ly/Ioi450JmbNC

Being agile, intelligent and evergreen are the hallmarks of a resilient and successful insurance business.

"Escalating the number of 'teen truckers' on the roads and expanding the areas in which they are licensed to drive poses...
05/31/2022
Lowering interstate CDL age limits brings more risk than reward | PropertyCasualty360

"Escalating the number of 'teen truckers' on the roads and expanding the areas in which they are licensed to drive poses real risks to the drivers and all those around them."
https://www.propertycasualty360.com/2022/05/31/lowering-interstate-cdl-age-limits-brings-more-risk-than-reward/

There are more impactful solutions to improve road and driver safety, writes Cathy Chase, president of Advocates for Highway and Auto Safety.

With the insurance industry quickly recognizing the value of AI and initiating digital transformation efforts, there wil...
05/27/2022

With the insurance industry quickly recognizing the value of AI and initiating digital transformation efforts, there will continue to be an investment in AI across the industry as consumers expect an increased digital experience. http://ow.ly/J5Sx50JjQIb

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We are thrilled to be able to recognize companies that are setting the pace for workplace risk management in 2022 with our annual Workers’ Comp Risk Management Award for Excellence! Nominations open through April 29! http://ow.ly/52Fi50ImVzc
U.S. consumers prefer local branches for home & auto insurance
People on the move in the P&C insurance industry: March 18, 2022
"These two agents each had an opportunity to choose their path. The results of their choices are clear. Every agency owner has the same choices. Which will you make?" http://ow.ly/kkaX50Img1y
Remote work has dipped slightly in popularity
A new survey finds that more than any other generation, 62% of Boomer remote workers believe working from home is “extremely desirable” going forward; 54% of remote workers from Generation X agree, as do just over half of all Millennial remote workers. Generation Z is the only group in which a majority of workers feel differently. http://ow.ly/Shca50ImfXF
Although research on climate change’s impacts on the shipping industry is scant, catastrophic events in recent years together tell a concerning story. http://ow.ly/XHbK50ImfRr
The population of the No. 1 state on our list consumes 4.67 gallons of alcohol per capita annually, while the average person in the runner-up state only consumes 3.52 gallons.
Whether your organization uses claim reviews to strengthen financial position (i.e., by accelerating claim closures and adjusting reserves); flag administrative issues, such as breakdowns in incident reporting and injured worker communications; or to drive operational gains by uncovering and addressing workplace hazards, here are 10 best practices that can help improve your ability to achieve desired outcomes. http://ow.ly/P0zM50Img0u
Steps to drive results during casualty claim reviews
Florida's Avatar Property enters receivership