Editor’s Note: Credit scoring an issue in 2007
Even though 2006 is safely behind us, some sticky issues are on the horizon as we edge our way into 2007. Case in point is the pending Supreme Court cases of Safeco v. Burr and GEICO v. Edo. The cases …
Declarations
Identity Theft “A security freeze puts control of a consumer’s credit report where it belongs — in the hands of the consumer … Until now, only victims of identity theft could place a freeze on their credit reports.” Illinois Attorney …
Fraud Roundup
Ohio arsonists pair ‘light up’ in pool of gasoline It’s not easy being an arsonist. Just ask Musa Shteiwi and his son Essa who had a clear criminal vision for their Steak Thyme Subs eatery: They wanted to torch the …
If asbestos claims were covered by claims-made insteadof occurrence forms, insurers likely would not be
paying claims today.
With occurrence forms, the trigger is the occurrence date, which in many asbestos claims, was during the policy period.
Business Moves
Aon, Valley Oak Systems Aon entered into a letter of intent agreement to acquire Valley Oak Systems of San Ramon, Calif. It expects to consummate the transaction by January 31, 2007. Valley Oak Systems (VOS) offers claims management software, services …
New Markets
Commercial Property Managers Nuts & Bolts: The Hartford Financial Services Group, Inc. has expanded its real estate insurance program to offer property and liability coverage to commercial property owners and managers. The Hartford’s target market encompasses owners and managers of …
Insurers seek Indiana Supreme Court review of family’s damage award
Insurance industry trade groups are asking the Indiana Supreme Court to review an appeals court decision that awarded damages for emotional distress to the family of an injured man, saying it could set a costly precedent. The groups are joining …
Dissecting a claims made policy
You’ve heard the phrase: “If I could predict the future, I would be wealthy.” If our industry truly could do that, underwriting, rating and pricing would become the easiest tasks on the planet. Short of predicting the future, however, underwriters …
News Currents
28.5 million holiday party hosts likely underinsured, study says Most of the 28.5 million Americans who plan to host a party between Thanksgiving and the Super Bowl are underinsured, according to a new study by Trusted Choice. Of those 28.5 …
