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Claims Litigation Comes Back to the New Legal Normal

Claims Litigation Comes Back to the New Legal Normal

After largely stalling for nearly two years due to the Covid pandemic, the pace of claims litigation is beginning to pick up. At the same time, the number of new claims is likely to rise as businesses begin to rebound. Claims administrators, however, face a changed claims landscape. Across the United States, courts are moving toward more creative operations, although at varying speeds and with different goals. For instance, in New York State, the court appearances are still virtual and will likely remain that way; California courts are resuming in-person appearances and trials at mid-year. But every jurisdiction can be different, with varying restrictions on access. Some local courts prefer to remain virtual, and some opt for a hybrid approach. This necessitates a highly flexible approach to claims administration going forward with the ability to adapt to all scenarios. Nimble and proactive claims administrators that have shown they can perform well in all-virtual, hybrid, and traditional in-person settings will be best placed to handle this new normal.

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Property Deductible Solutions to Save Money and Meet Lender Requirements

Property Deductible Solutions to Save Money and Meet Lender Requirements

Clients who want to better manage the costs of their property programs often look to higher deductibles as an attractive option, but their lenders may not allow it. Higher deductibles can bring significant cost savings on property insurance programs, particularly for higher hazard risks or accounts with unfavorable loss histories. Taking higher deductibles provides access to more competitive markets and can lead to the most cost-effective property program. Clients willing to take a $100,000 deductible, for instance, will draw far more interest from more markets than those insisting on a $10,000 deductible.

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Russia’s Invasion of Ukraine Has Consequences for Shipping Clients

Russia’s Invasion of Ukraine Has Consequences for Shipping Clients

A few weeks ago, the global economy appeared to be on track to prevail against lingering pandemic effects. However, Russia’s recent invasion of Ukraine and mounting sanctions against the country are pushing the needle back, creating new supply chain and logistical problems, especially when it comes to transporting goods near the war zone.

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Excess Liability: Do Follow-Form Policies Really Follow Form?

Excess Liability: Do Follow-Form Policies Really Follow Form?

Follow-form policies are meant to help simplify and provide consistent coverage for excess liability programs. Ideally, follow form policies would provide excess coverage under the same terms and conditions as the underlying policy, that is follow the underlying form. In the real world, such policies often fall short of that ideal. Even though the coverage is labeled follow form, it’s not safe to assume that the policy actually provides the same coverage.

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Florida Market Still Reeling from Surfside Condo Collapse

Florida Market Still Reeling from Surfside Condo Collapse

The deadly collapse of a 12-story beachfront condominium north of Miami Beach sent shockwaves through the Florida insurance market. One wing of the 40-year-old Champlain Towers in Surfside, Florida, crumpled to the ground suddenly on June 24, 2021, killing 98 people. Several carriers have exited the Florida property market as total settlements rise to more than $130 million, and others are pulling back on property and liability coverage. Faced with the potential for steep losses, insurers are raising rates and deductibles and becoming much more selective. In such a challenging market, it’s crucial to work with experienced, knowledgeable brokers who can provide guidance through a more complex, demanding placement process.

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How to Avoid the Uncertainty Mark-up for Catastrophe Coverage
How to Avoid the Uncertainty Mark-up for Catastrophe Coverage
New Florida Law Strengthens Apartment Safety Regulations
New Florida Law Strengthens Apartment Safety Regulations
Cyber Loss Control: Security Scans Have Pros and Cons
Cyber Loss Control: Security Scans Have Pros and Cons
2022 Excess Habitational State of the Market
2022 Excess Habitational State of the Market
Representations & Warranties Coverage Protects M&A Deals
Representations & Warranties Coverage Protects M&A Deals
Possible Insurance Implications of Roe v. Wade Overturn
Possible Insurance Implications of Roe v. Wade Overturn
2022 Energy State of the Market
2022 Energy State of the Market
Private D&O REDY® Index June 2022
Private D&O REDY® Index June 2022
Excess & Umbrella REDY® Index June 2022
Excess & Umbrella REDY® Index June 2022
Cyber REDY® Index June 2022
Cyber REDY® Index June 2022
Property REDY® Index June 2022
Property REDY® Index June 2022
Senior Living Market Easing but Reprieve May be Brief
Senior Living Market Easing but Reprieve May be Brief