NU Property & Casualty 360

Legal malpractice claim costs up, despite frequency stabilizing

Ames & Gough reported 70% of the surveyed insurers had a claim payout of more than $50M in the past two years.

Posted: May 23, 2023

How insurers can protect against cyber crimes

Insurers that suffer a cyberattack could encounter financial losses, business disruptions and reputational damage, the same losses their policyholders would experience.

Posted: May 22, 2023

Surfside: The historic settlement and the legislative response

The state’s legislative response presents an interesting case study on government efforts to curb the impact of bad faith laws as a result of lessons learned from this tragedy.

Posted: May 22, 2023

Louisiana closes insurance incentive applications as it awaits more funding

The second round of applications for the Insure Louisiana Incentive Program was originally scheduled to remain open through May 25.

Posted: May 22, 2023

Liberty Mutual outlines how boards of directors can reduce cyber risk

"Breaches can be prevented when employees at every level feel they can be vocal about security weaknesses.”

Posted: May 22, 2023

A defective precedent for 'defective work' in insurance coverage

Is New York case law ignoring changes to standard ISO CGL policy forms when it comes to construction defects and ‘your work’ exclusions?

Posted: May 22, 2023

Contractor fraud can account for as much as 10% of NAT CAT losses

More than $9 billion was lost to post-disaster contractor fraud in 2021, NICB reports.

Posted: May 22, 2023

Hackers contacted CEO's son, wife to exert pressure in an extortion attempt

The firm didn’t pay the hackers even though the pressure campaign got personal.

Posted: May 22, 2023

Recognizing the indicators of workplace injuries & fatalities

Contractors who implemented a process safety management program experienced a 29% lower rate of serious injuries and fatalities.

Posted: May 22, 2023

Hyundai, Kia settle anti-theft lawsuits for $200M

Lawsuits were filed after viral videos on TikTok and YouTube demonstrated how to steal Kia and Hyundai vehicles with the use of a USB cord.

Posted: May 21, 2023

Who's using what in P&C insurance: May 22, 2023

Insurance technology news from CAPE Analytics, Coaction Specialty Insurance, Nirvana and more.

Posted: May 21, 2023

Florida contractor arrested for lack of workers' comp, licenses during state of emergency

The contractor faces five years in prison if convicted of workers' comp fraud and unlicensed contracting during a state of emergency.

Posted: May 21, 2023

Coverage innovation award to honor positive changes

Time is running out to recognize innovative solutions in the PropertyCasualty360 Insurance Luminaries program.

Posted: May 21, 2023

Hackers contacted CEO's son, wife to exert pressure during extortion attempt

The firm didn’t pay the hackers even though the pressure campaign got personal.

Posted: May 21, 2023

New Florida property law impacts defective construction lawsuits

Condo owners who purchase poorly constructed properties in the Sunshine State could have no legal recourse.

Posted: May 19, 2023

Catalytic converter replacements grew more than 1,000% from 2019-2022

The national increase is frightening, state-level data is downright horrific. Two Western states saw increases in excess of 7,000%.

Posted: May 19, 2023

People on the move in the P&C insurance industry: May 19, 2023

The latest insurance industry personnel news from McGuireWoods, Cowbell, RT Specialty and more.

Posted: May 18, 2023

Speaking up to stop texting and driving

While drivers may make the dangerous decision to text behind the wheel, passengers have the power to help end this behavior.

Posted: May 18, 2023

Tighter marketing budget? Time to re-evaluate auto insurance KPIs

Take a lesson from savvy insurance marketers and use this period of change to realign.

Posted: May 18, 2023

Former agent pleads guilty to pilfering premiums from elderly clients

The insurance agent stole more than $220,000 from clients, including prominent art dealer Gregg Juarez.

Posted: May 18, 2023

Higher auto insurance rates are stressing American drivers

Among drivers age 18-34, 17% said they went without insurance during the past year. Cost was a big reason why.

Posted: May 18, 2023

Insurers face challenges in battle against high premiums

Supply chain woes, worker shortages, already high premiums for electric vehicles and a growing incidence of unsafe driving are all exerting pressure on the industry to raise premiums.

Posted: May 17, 2023

2 counts dismissed in $5M claim over helicopter crash that killed country music star

Troy Lee Gentry of country musical duo Montgomery Gentry died in a sightseeing helicopter crash in 2017.

Posted: May 17, 2023

5 'next horizon' practices to help women excel in their careers

Leaders and organizations must embrace and champion new policies and benefits to make way for a more equitable future.

Posted: May 17, 2023

Higher auto insurance rates are stressing American drivers

Among drivers age 18-34, 17% said they went without insurance during the past year. Cost was a big reason why.

Posted: May 17, 2023