Capstone Insights
Now that the yearly task of filing personal taxes has passed, this is an opportunity to discuss another type of filing for businesses that occurs every year – the workers’ compensation and general liability audits. In comparison, insurance audits and filing taxes are similar in that both are mandatory, annually. The workers’ compensation and general liability audits are conducted at the end of each policy period to verify that the premium is correct for the exposure during the policy period. In the event there is a claim, the claim might be denied because the premium exposure for the policy term within the policy period where the claim occurred was underinsured. Continue reading →
Congress has advanced legislation to clarify that sports doctors’ medical malpractice insurance should follow them when they travel out of state with their teams.
The House of Representatives this week approved the Sports Medicine Licensure Clarity Act (US HR 921), which had 190 sponsors and was co-sponsored by Reps. Brett Guthrie (R-Ky) and Cedric Richmond (D-La). Continue reading →
Employee retention rates are a common concern for many businesses, whether How to Improve Employee Retention with Tax-Free “Fringe” Benefits they are large or small. But for small businesses, employee retention is imperative because there may only be one person in each role. If an employee jumps ship, who will pick up the slack while the position is vacant? Continue reading →
Connecticut Bookmaker Gets Prison Time in Insurance Fraud Scheme
A bookmaker who pleaded guilty to charges he shot a gambler with a stun gun and tried to burn down a Middletown restaurant in an insurance fraud scheme is headed to prison.
The Hartford Courant reports 52-year-old John Barile of East Hartford was sentenced Tuesday to 71 months in federal prison. He pleaded guilty in February to charges of arson, insurance fraud, gambling and extortion. 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.
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 →
For all the black robes and ceremony, the American legal system often operates more like a factory assembly line than a citadel of individualized justice. Ninety- five percent of criminal prosecutions end in plea deals. Many defective-product claims settle in mass pacts that benefit attorneys more than putative victims. Now a legal dispute within a plaintiffs’ law firm that organizes massive torts is threatening to pull back the curtain on the mechanics of high- volume litigation. Continue reading →
The medical professional liability insurance market continued its years-long decline in 2014 in terms of net written premium volume, hammered by forces including worsening accident-year results and a rapidly evolving healthcare market, Fitch Ratings found.
Despite its challenges, the MPLI market still managed to report a profit in 2014 and could be a target for consolidation, Fitch said. Continue reading →
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