The $19.5 million settlement Home Depot Inc. was able to reach in connection with its massive 2014 data breach was relatively low, which can be attributed to the difficulty plaintiffs in many related cases have had in successfully claiming damages, say experts. Continue reading
When Pamela Davis started in the insurance industry 26 years ago, there were few insurance markets willing to take on the unique risks of nonprofit organizations. Back then, says Davis, who is now president and CEO of the Nonprofits Insurance Alliance Group, nonprofits were seen as substandard risks.
But that was not because nonprofits were poor risks but because they were misunderstood and specialized risks, she maintains. “The premiums were far higher than they needed to be 25 years ago,” she said. Continue reading
A proposal that would have made edible marijuana products legal in Utah for those with chronic pain has died, concluding a more than yearlong effort that was severely stunted after the Mormon church came out in opposition last month. Continue reading
The number of pedestrians killed in traffic accidents is expected to have risen by as much as 10 percent when final 2015 statistics are available. That would be the biggest increase ever recorded.
The annual Governors Highway Safety Association (GHSA) Spotlight on Highway Safety Report provides the first look at 2015 pedestrian fatality trends, based on data reported by state highway safety agencies. Continue reading
With every car rental transaction comes the slightly uncomfortable moment when the agent behind the counter tries to foist the company’s insurance on you. When this happened to me at Hertz at the Hilo International Airport in Hawaii a few weeks ago, I did what I always do: I firmly and politely said no, thank you. Continue reading
WASHINGTON — The federal Medicare program and private health insurers waste nearly $3 billion every year buying cancer medicines that are thrown out because many drug makers distribute the drugs only in vials that hold too much for most patients, a group of cancer researchers has found. Continue reading
Try as one might to vet tenants, the sharing economy involves risks. You should ask tenants why they will be renting, who will live in your home, whether they have pets and what they do for a living. Here are some of the lessons for homeowners based on our experiences as landlords and tenants. Continue reading
The property/casualty industry is undergoing significant challenges with increased claim severity in liability and physical damage claims. These increases are outpacing inflation and rate adequacy. According to the Insurance Information Institute, in 2009 the average private passenger auto bodily injury claim was $13,891. In 2014, that average grew to $16,640 – an increase of almost 20 percent. The private passenger auto collision loss ratio has risen from 67.7 percent in 2010 to 78.3 percent in 2015 – a 16 percent increase. The loss ratio can be adversely impacted by claim handling, underwriting and rate inadequacy with claim leakage as a primary cause of loss ratio deterioration. Continue reading
