The U.S. Food and Drug Administration, in partnership with international regulatory and law enforcement agencies, said that it took action last week against 4,402 websites that illegally sell potentially dangerous, unapproved prescription drugs to U.S. consumers.
This effort was part of Operation Pangea IX, the Ninth Annual International Internet Week of Action, a global cooperative effort, led by INTERPOL, to combat the sale of illegal and potentially counterfeit medical products on the internet. Continue reading
A left-turn at the light with oncoming traffic; the collision occurs and now you are headed to intercompany arbitration on the subrogation claim as the parties dispute who was at fault.
An all too familiar scenario for those adjusting auto losses, but an increasingly relevant fact pattern in the world of subrogation recovery. While 85-90% of all subrogation claims are resolved between carriers and self-insureds without a problem, it is the other 10-15% that can make the difference to the bottom line for insurance organizations.
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A new report released by the Travelers Companies Inc., reveals that even minor injuries can substantially impact business productivity.
The Injury Impact Report identifies the most common causes of workplace accidents and injuries through analysis of 1.5 million workers’ compensation claims filed between 2010 and 2014 from a variety of business sizes and industries. Continue reading
Your home is a place where family gathers to live life, sleep, and prepare for everyday outings. Your home is where memories are made, life happens, and where the majority of Americans spend a great deal of their time. From an insurance perspective, it is not only smart to know different ways to exit your home but also to be prepared by enacting a family escape plan in the event of an emergency situation, especially a fire. Homeowners insurance covers and protects your belongings but not your families. Be proactive in protecting your loved ones by creating a Fire Escape Plan. Continue reading
In the high-risk manufacturing sector, where large-dollar claims are common, small to middle-market companies struggle to find experienced partners capable of providing targeted risk control and effective techniques to lower loss results and reduce the effect on the total cost of risk. Here are four tactics industrial companies can implement to reduce the cost of claims. Continue reading
The data for the study “Insurance Costs for Mid-Rise Wood Frame and Concrete Residential Buildings” was drawn from published literature and consultations with brokers, underwriters and property managers. Interviews with three underwriters and data from the Canadian Wood Council (CWC) show that builders’ risk insurance rates per $100 monthly for comparable wood and concrete buildings are on average $0.008 for concrete and $0.053 for wood. When excluding the rate provided by CWC for wood frame insurance, which was significantly lower than the rates provided by the underwriters, the average rate for wood buildings rises to $0.06, a factor of 7.5 times greater than that for concrete buildings. 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
