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Claims Preparation & Guidelines

Claims Preparation & Guidelines

PLACING YOU FIRST BEFORE, DURING AND AFTER THE STORM. CRC group is here to help with all of your claims and policy servicing issues as a result of catastrophes, including helping clients prepare for a potential claims situation.

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Rough Road Ahead in Excess Casualty

Rough Road Ahead in Excess Casualty

The excess casualty market faces a rough road ahead. After a difficult 2020, the market is likely to remain hard at least through 2021 and possibly into the following year. Carriers continue to reduce limits and increase premiums as they grapple with the aftereffects of underpricing in the soft market. Much of the hardening is being driven by losses in auto, and also where social inflation is leading to more so-called ‘nuclear’ verdicts. Along with auto fleets, construction, real estate, habitational and hotels stand among the more difficult markets.

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Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

The term catastrophe became a part of everyday life this year as the global coronavirus pandemic spread across the country. With spring also came the "normal" catastrophes, including a spate of deadly thunderstorms and tornados. This was followed by an early start to a hurricane season that kept setting records through the summer, and a disastrous wildfire season for which the full scope of damages will not be known for some time.

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Mandatory Natural Disaster Evacuations Prove Costly for Homeowners

Mandatory Natural Disaster Evacuations Prove Costly for Homeowners

When a fast-moving wildfire threatens a community, residents may have only minutes to seek safety. It’s an all-too common scenario for Californians and others in the West, who have suffered through more than one devastating fire season. California’s 2018 Camp Fire, the most destructive wildfire in history, burned 6,700 structures while Southern California wild fires burned 177 structures, with losses for these fires totally around $7 billion (source 3). 2019 was a much milder wildfire season, especially in comparison to 2017 and 2018; however, California remains the top state in the country for extreme wildfires with more than 2 million properties at risk (source 7).

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Rain, Wind, Flood and Fire: Climate Change Poses Challenge for Catastrophe Models

Rain, Wind, Flood and Fire: Climate Change Poses Challenge for Catastrophe Models

The severe hurricanes and record-breaking wildfires that have caused widespread damage in recent years have heightened concerns that a changing global climate may be leading to more frequent and extreme natural catastrophes. Among the possible effects of climate change, stronger and slower-moving hurricanes may bring more devastating winds, higher storm surge and greater inland flooding; hotter temperatures can dry out vegetation and raise the risk of wildfires, particularly as people move into formerly wild areas. Those changes may lead to greater risks for property owners and higher-than-expected claims for insurers.

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Cyber REDY® Index June 2021
Cyber REDY® Index June 2021
Private D&O REDY® Index April 2021
Private D&O REDY® Index April 2021
Cyberwrite on REDY®: Helping Clients Understand & Quantify Cyber Risks
Cyberwrite on REDY®: Helping Clients Understand & Quantify Cyber Risks
Tough Outlook Ahead for Most of the Energy Market
Tough Outlook Ahead for Most of the Energy Market
Aviation Market Hardens Amid Pandemic Turbulence
Aviation Market Hardens Amid Pandemic Turbulence
Cyber REDY® Index April 2021
Cyber REDY® Index April 2021
Make Sure Your Insurance Provides the Right ESOP Coverage
Make Sure Your Insurance Provides the Right ESOP Coverage
Tough Call: How to Insure TCPA Liability Risks
Tough Call: How to Insure TCPA Liability Risks
Optimize Your Business Interruption Coverage with the BI Worksheet
Optimize Your Business Interruption Coverage with the BI Worksheet
Private D&O REDY® Index April 2021
Private D&O REDY® Index April 2021
Claims Preparation & Guidelines
Claims Preparation & Guidelines
Disability Insurance: Protection When Illness or Injury Strikes
Disability Insurance: Protection When Illness or Injury Strikes