State Insurance Headlines

 

2017 natural disasters mean insurance rate increases in 2018
(Benefits Pro © 02/19/2018)
While 2017 was mostly a buyers? market for both property and casualty commercial insurance and affiliated lines, rates across lines could rise this year due in large part to the industry?s estimated $85 billion to $100 billion in total losses from Hurricanes Harvey, Irma and Maria, not to mention wildfires, hail, and tornadoes, according to USI?s ?2018 Insurance Market Outlook.?...

 

The rise of the insurance chatbot
(Benefits Pro © 02/17/2018)
The chatbot is on the rise.You need only look at the celebrity status Amazon's Alexa achieved this year as a top Super Bowl ad to understand this. So ascendant is the humble chatbot that some retail industry pundits are describing 2018 as the year of AI and voice technology. Will that be also true for insurance? How warm is the embrace by insurers, agents and their customers?...

 

6 ways to tackle the insuran ce industry talent gap
(Property Casualty 360 © 02/16/2018)
February is Insurance Careers Month, and for the next few weeks, Insurance Careers Trifectais focusing their efforts on appealing to the millennial workforce.Millennials are now the majority of the U.S. workforce and are projected to make up 50% of the global workforce by 2020....

 

Self-driving cars, data prompt new auto insurance products
(Property Casualty 360 © 02/16/2018)
Dangerous driving behaviors such as speeding, texting or driving while intoxicated may soon cease to exist with computers at the wheel instead of humans.Zero traffic-related accidents, guaranteed. At least in theory....

 

$1 Million Workers' Comp Scam Leads to the Arrest of Miami Roofing Company Owners
(Florida Department of Financial Services © 02/15/2018)
MIAMI, Fla. ? Chief Financial Officer Jimmy Patronis today announced the recent arrest of Jose Esmelin Martinez and Uzziel Isaias Jaramillo, owners of Esmelin Corporation aka as Esmelin Roofing Contractor (ERC). Martinez and Jaramillo allegedly concealed nearly $1.2 million in payroll on their workers? compensation policy renewal application in an alleged attempt to illega lly lower their premium c...

 

POINT OF VIEW: Florida's lawmakers need to fix auto liability system
(Palm Beach Post © 02/15/2018) (Registration Required)
From a $2.59 lawsuit to arrests and even a feature story on the AE series, \"American Takedown,\" Floridians are all too famili ar with the stories of \"personal injury protection\" (PIP) or \"no fault\" auto insurance abuse. In addition to the honor of being home to these outrageous examples of fraud, Floridians also have the privilege of paying for them. How did we get to a place where $10,000 of cover...

 

Hurricane Irma property damage nears $8 billion across Flori da
(Sarasota Herald-Tribune © 02/14/2018) (Registration Required)
By John Hielscher Staff Writer Tuesday Posted Feb13,2018at11:24AM Updated Feb13,2018at4:55PM ...

 

Flood insurance 'warning' clears second committee
(Florida Politics © 02/13/2018)
Policyholders would see a?bold 18-point type warning when their hurricane coverage?wont pay for flood damage under legislation that cleared a Senate panel Tuesday.The Senate Community Affairs Committee OKd the bill (SB 1282) 6-0.TaddeoThe idea is to spare policyholders any nasty shock s following a hurricane or other natural disaster, said the sponsor, Miami Democrat Annette Taddeo.What we w...

 

Distributed Social Proof Insurance: The Next Industry Game-Changer?
(Insurance Journal © 02/13/2018)
InsurTech startup InsurePal is developing an insurance platform that aims to revolutionize the industry?s model for risk selection and fraud prevention by ?social proofing? insurance products....

 

5 things businesses can do now to prepare for hurricanes
(Property Casualty 360 © 02/13/2018)
As the magnitude of the losses from Hurricane Sandy became apparent shortly after the storm, questions im mediately began to circulate as to why the losses were so high and whether this event would be the ?new normal.? Five years after Sandy, Hurricanes Harvey, Irma and Maria have confirmed those fears....

 

Insurance agency cloud lingo you need to know
(Property Casualty 360 © 02/13/2018)
Underwriting insura nce is tough enough; most agencies would prefer not to wade into the fog of IT, especially given just how obtuse the tech world has become.For those insurance brokers making the shift from an in-house solution to the cloud, getting the language right is Job One. Familiarizing yourself with some basic terminology won?t turn you into a tech expert, but it can provide a grounding...

 

 

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