Currently viewing the category:
"Commercial Auto"
The Toyota Research Institute (TRI) is exploring blockchain and distributed ledger technology (BC/DL) for use in the development of driverless cars. TRI is collaborating with the MIT Media Lab and other industry partners on ways that both businesses and consumers may share driving and autonomous vehicle testing data, manage ride-share and car-share transactions and store vehicle usage information that could be used in the setting of insurance rates. Continue reading
When it comes to obtaining or renewing business insurance policies such as general liability, workers’ compensation, commercial automobile coverage, property etc., typically the business, policy coverage and risk associated with the policy will go through what is called underwriting. Each insurance company has it’s own set of underwriting guidelines when determining if they are willing to take the risk of the insured. Continue reading
Large liability claims are becoming more expensive, complex and international, with activity increasing outside the United States, according a report published by Allianz Global Corporate & Specialty (AGCS). Continue reading
Michael Johnston, the great, great grandson of the founder of one of the first Baptist churches in Texas, grew up being constantly warned about sin, including the evils of television and dancing. Thus it is a bit strange even to him that he has come to be known as the “marijuana guy” among insurance claims professionals. Continue reading
Not only are liability losses increasing but they are getting more expensive, particularly in relation to global product recalls, corporate liability, cyber and environmental incidents, according to a new report by Allianz Global Corporate & Specialty (AGCS). Global Claims Review: Liability in Focus identifies defective product or work, crash and human error incidents as the largest causes of liability loss for businesses, based on analysis of insurance claims. Continue reading
Automobile accidents can be scary and stressful for all parties involved. Sometimes in the moment we may not think about everything to do after the accident has taken place. Part of the process is dependent on automobile coverage and what the insurance carrier requires of the insured after an accident. Being aware of what is expected and required as a driver can prepare you for when an accident takes place. Continue reading
Verisk Analytics estimates that personal lines automobile insurers face at least a $29 billion annual problem from premium leakage—omitted or misstated underwriting information that leads to inaccurate rates. Continue reading
Captive insurers will help fill the coverage gaps that exist for emerging technologies, such as new entertainment and social platforms, driverless cars, drone delivery, and more, according to captive experts. Continue reading
