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ICYMI: A former maintenance worker said that saltwater would seep through the building’s foundation during particularly ...
07/10/2021
What caused the Surfside condominium building to collapse? | PropertyCasualty360

ICYMI: A former maintenance worker said that saltwater would seep through the building’s foundation during particularly high tides and that employees would regularly use two large pumps to pump out a foot or more of water from the garage. https://www.propertycasualty360.com/2021/07/06/coverage-when-the-condominium-collapses-414-205391/

Part 1 of 2: A series of events culminated up to the June 24th tragedy.

To guarantee compliance, laws and regulations are met at every level, insurers should examine the ways their SaaS applic...
07/08/2021
Maintain compliance and fuel growth with data ownership | PropertyCasualty360

To guarantee compliance, laws and regulations are met at every level, insurers should examine the ways their SaaS application data is being handled, accessed and stored. Fully owning one’s data is the only way to ensure 100% compliance. https://www.propertycasualty360.com/2021/07/08/maintain-compliance-and-fuel-growth-with-data-ownership/

Insurers should examine the ways their SaaS application data is being handled.

Automation shouldn’t just be seen as a short-term fix to help alleviate the challenges of COVID-19, but more so an integ...
07/08/2021
Businesses, embrace automation today to reap the benefits tomorrow | PropertyCasualty360

Automation shouldn’t just be seen as a short-term fix to help alleviate the challenges of COVID-19, but more so an integral component of the business to derive value and help mitigate future uncertainty. https://www.propertycasualty360.com/2021/07/08/embrace-automation-today-to-reap-the-benefits-tomorrow/

The right technology, processes and mindset can help insurance businesses come out of the pandemic stronger and more resilient.

The Eighth Circuit ruled in Oral Surgeons PC v. The Cincinnati Insurance Co. that the lower court did not err in dismiss...
07/08/2021
Policyholder loses first COVID-19 coverage appellate case | PropertyCasualty360

The Eighth Circuit ruled in Oral Surgeons PC v. The Cincinnati Insurance Co. that the lower court did not err in dismissing the suit brought by Oral Surgeons on the basis that it failed to plead any physical alteration to the property. https://www.propertycasualty360.com/2021/07/08/first-appellate-business-interruption-suit-decided-414-205595/

The decision follows a trend of courts determining that pandemic losses do not meet policy provisions of direct physical loss.

Because low-risk properties lack million-dollar views in most cases, they are typically more affordable. This makes comp...
07/08/2021
High flood risk homes selling for more than lower-risk houses | PropertyCasualty360

Because low-risk properties lack million-dollar views in most cases, they are typically more affordable. This makes competition fiercer for those properties and buyers more likely to bid up the price. https://www.propertycasualty360.com/2021/07/08/high-flood-risk-homes-selling-for-more-than-lower-risks-houses/

While coastal properties have always fetched top dollar, the premium paid for these locations has surged to historic highs.

Coverage for the building likely exists depending on the actual cause of loss as that policy is open perils, and there i...
07/08/2021
Miami building collapse: Possible insurance coverages involved | PropertyCasualty360

Coverage for the building likely exists depending on the actual cause of loss as that policy is open perils, and there is no exclusion for the building falling in upon itself. There are sure to be many coverage questions coming out of this. https://www.propertycasualty360.com/2021/07/07/possible-insurance-issues-involved-in-the-miami-building-collapse/

Part 2 of 2: As the cause of the oceanfront building tragedy is investigated, what insurance issues may be in play?

According to the J.D. Power 2021 U.S. Insurance Digital Study™, overall insurance customer satisfaction with insurers’ d...
07/08/2021
J.D. Power: Top P&C insurers for digital customer service in 2021 | PropertyCasualty360

According to the J.D. Power 2021 U.S. Insurance Digital Study™, overall insurance customer satisfaction with insurers’ digital offerings has not improved much from the previous year, regardless of the industry-wide push to modernize.
https://www.propertycasualty360.com/2021/07/07/j-d-power-top-pc-insurers-for-digital-customer-service-in-2021/

The bar continues to get higher for insurance customer digital expectations.

In excess of 2,800 miners took part in the voluntary survey, which found that slightly more than 38% of miners had sympt...
07/07/2021
U.S. coal miners exhibiting high rates of depression | PropertyCasualty360

In excess of 2,800 miners took part in the voluntary survey, which found that slightly more than 38% of miners had symptoms consistent with major depressive disorder and almost 39% had clinically significant anxiety. https://www.propertycasualty360.com/2021/07/07/u-s-coal-miners-exhibiting-high-rates-of-depression/

A survey of current and former coal miners found more than 1-in-10 had recently considered su***de.

GoFundMe accounts can generate many donations for a business after a catastrophe, especially a business that is a custom...
07/07/2021
Can insurers consider donations as business income in a claim? | PropertyCasualty360

GoFundMe accounts can generate many donations for a business after a catastrophe, especially a business that is a customer favorite. But should those donations be considered business income when filing a claim? https://www.propertycasualty360.com/2021/07/07/can-insurers-consider-donations-as-business-income-in-a-claim/

Coverage Q&A: A gym received GoFundMe donations after a fire damaged the business.

The first lawsuit filed over the Surfside Florida condo collapse claimed the condominium association "internationally, w...
07/01/2021
'This was preventable': First lawsuit filed over Surfside condo tragedy | PropertyCasualty360

The first lawsuit filed over the Surfside Florida condo collapse claimed the condominium association "internationally, willfully, recklessly, or negligently” failed to take appropriate safety measures and keep residents informed.
http://ow.ly/6BiR50Fn6Yo

Many think the class action suit's timing is distasteful as rescue teams continue to search for survivors of the Surfside building collapse.

Aiming to make sure its customers are satisfied with an update to Breyers Cookies & Cream ice cream, Unilever North Amer...
07/01/2021
'Cookie Coverage' sets new ground for product policies | PropertyCasualty360

Aiming to make sure its customers are satisfied with an update to Breyers Cookies & Cream ice cream, Unilever North America has launched Cookie Coverage. The introduction of these policies coincided with National Insurance Awareness Day. https://www.propertycasualty360.com/2021/06/30/cookie-coverage-sets-new-ground-for-product-policies/

Aiming to guarantee customer satisfaction following a recipe update, an ice cream maker ushers in Cookie Coverage.

Nearly 70% of consumers didn’t know making changes to their homes, such as adding a pool or buying a trampoline, or gett...
07/01/2021
Changes from past year are causing home insurance blind spots | PropertyCasualty360

Nearly 70% of consumers didn’t know making changes to their homes, such as adding a pool or buying a trampoline, or getting pets, means changes need to be made to homeowners policies, a Hanover Insurance Group survey found. https://www.propertycasualty360.com/2021/06/30/renovations-pets-causing-insurance-blind-spots/

Policyholders made a lot of changes in the past year, but are they aware of the need to update their insurance coverages?

Exactly what makes a diverse workplace? As many industry events this year have illuminated, it means more than simply hi...
07/01/2021
Forbes: Top P&C insurance employers for diversity in 2021 | PropertyCasualty360

Exactly what makes a diverse workplace? As many industry events this year have illuminated, it means more than simply hiring racial, ethnic and social minorities — a challenge in and of itself. https://www.propertycasualty360.com/2021/06/30/forbes-top-pc-insurance-employers-for-diversity-in-2021/

The P&C insurance industry is squarely in the middle of recent work to improve workplace equity and inclusion.

Not only is COVID-19 changing the business and consumer mindset, but continuous advances with web browser technology hav...
06/29/2021
Using Technology to Disrupt the Auto Insurance Supply Chain | PropertyCasualty360

Not only is COVID-19 changing the business and consumer mindset, but continuous advances with web browser technology have also enabled digital services to step up. Experience has shown that using a mobile browser rather than native apps works well for this type of customer solution. https://www.propertycasualty360.com/2021/06/29/using-technology-to-disrupt-the-auto-insurance-supply-chain/

Advanced technology promises to shorten the claims cycle from hail damage while improving customer satisfaction.

Insurers are coming under increasing pressure from a wide range of stakeholders to shift their emphasis from traditional...
06/29/2021
Climate risk puts insurers on the hot seat | PropertyCasualty360

Insurers are coming under increasing pressure from a wide range of stakeholders to shift their emphasis from traditional risk transfer, disaster recovery and pre-event adaptation efforts to more proactively address the problem of climate change at its most likely source — that is, by limiting carbon emissions. https://www.propertycasualty360.com/2021/06/29/climate-risk-puts-insurers-on-the-hot-seat/

Insurers should expect increasing pressure to go beyond risk assessment and reporting by taking a more proactive role in reducing carbon emissions.

Recent Agent Authority Research from Nationwide found that nearly six in 10 nonprofits were negatively impacted by the C...
06/29/2021
Nonprofits need insurance-agent assistance to navigate new challenges | PropertyCasualty360

Recent Agent Authority Research from Nationwide found that nearly six in 10 nonprofits were negatively impacted by the COVID-19 health crisis, and 81% of nonprofit leaders said they have concerns about their organization’s ability to make it through the economic downturn. https://www.propertycasualty360.com/2021/06/29/nonprofits-need-agent-assistance-to-navigate-new-challenges/

From emerging technology to volunteer shortages, nonprofits face new exposures that present unique insurance needs.

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