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What types of claims are being made on a contractors professional program? Steve Hansen, Vice President, Underwriting, Architects & Engineers/Contractors Professional Liability, Tokio Marine HCC – Cyber & Professional Lines Group, discusses the firm’s contractors professional program, the types of contractors the firm is targeting and the main components of a policy. Source link
A recent survey of insurance underwriters found that 40 percent of their time is spent on “tasks that are not core” to underwriting. The top three reasons they cited are: Redundant inputs/manual processes; Outdated/inflexible systems; and Lack of information/analytics at the point of need. The survey – conducted by The Institutes and Accenture – also…
Read More “Triple-I Blog | Invest in Technology — But Don’t Forgetto Invest in People” »
I came across this article on Insurance Journal (of course!) today. Can a Self-Driving 40-Ton Truck Be Safe? Developers Say Yes But Others Are Skeptical. The optimist in me says that yes, self-driving trucks can be safe. The risk analyst in my says that I have questions about how they can be made safe. The…
Armed with the information procured through bribery, the two gangs then steered the victims towards doctors who are involved in the fraud ring, a US Attorney release said. These doctors would then perform “unnecessary and often painful” medical procedures on the victims, overbilling insurance companies. According to Manhattan US Attorney Damian Williams, the two fraud…
Read More “Two gangs arrested over alleged $100 million auto insurance fraud scheme” »
Former president, CEO and chairman of Lockton Companies, David Lockton, has secured a new role within the insurance industry. Insurance holding company Obsidian Insurance Holdings Inc., has announced the appointment of Lockton to its parent company’s board of directors. “Dave Lockton is a tremendous addition to our board,” said chief executive officer of…
One market is set to surge, according to global brokerage WTW – and that market, is renewable energy. In its annual Renewable Energy Market Review, the firm outlines that companies are increasingly looking to transition to a low carbon environment. The speed of growth, it states, is also prompting increased demand for building…
Read More “WTW – renewables market set for “unprecedented growth”” »
Jeremy Burr, VP of sales specializing in multifamily real estate transactions at Insurance Office of America (IOA), described assault and battery – where an individual uses their own body and/or a weapon of some sort to inflict harm on another – as “the most heinous claim type that is really crushing the casualty side of…
Read More “Coverage could soon be impossible for multifamily real estate insureds to secure” »
WTW has announced the formation of a new crisis management unit with the merger of SCR and its political violence teams. The unit will sit within WTW’s Financial Solutions Global line of business and be headed by Jo Holliday, managing director of SCR. The new unit will work globally, delivering crisis management and…
