Articles by Richard Rambeck

Hundreds Evacuated as Delaware River Floods

After Hurricane Ivan filled their little ranch house in Easton, Pa. with several feet of water, Dale and Charlotte Barr spent $40,000 to get it back in shape, doing most of the work themselves. They were just about to tackle …

Sledgehammers at 40 Paces

You would think that after several centuries in business, insurers would have a better handle on public relations. Apparently they still believe the sledgehammer approach is effective. And then they are surprised when some, most or all members of the …

Sledgehammers at 40 Paces

You would think that after several centuries in business, insurers would have a better handle on public relations. Apparently they still believe the sledgehammer approach is effective. And then they are surprised when some, most or all members of the …

A Profound Challenge of Many Facets

The search for a metaphor has proved fruitless. How would you begin to describe the huge challenge facing the insurance industry after an event for which any description is inadequate? All the industry has to do, at once and with …

A Profound Challenge of Many Facets

The search for a metaphor has proved fruitless. How would you begin to describe the huge challenge facing the insurance industry after an event for which any description is inadequate? All the industry has to do, at once and with …

Banning Major Earthquakes-A Savvy, Market-Saving Move

Apparently, we’ve licked that quake insurance problem. Faced with the devastation (property and market) wrought by the Northridge Earthquake and the realization by insurers that the loss models they had carefully constructed were feats of clay, there was only one …

Washington Regains NAIC Solvency Accreditation By Richard Rambeck

Washington is again accredited by the National Association of Insurance Commissioners to monitor the solvency of insurers. State Insurance Commissioner Mike Kreidler said regaining accreditation was his top priority when taking office in January. At the time, Kreidler, a Democrat …

Oregon Supreme Court Quashes Exclusive Workers’ Comp Remedy

In the multi-decade card game that is the Oregon workers’ compensation system, the state Supreme Court trumped the Legislature (and employers) by issuing a unanimous decision that erodes the exclusive remedy statute. In Terry L. Smothers v. Gresham Transfer Inc., …

Allstate’s Good Hands Put Death Grip on Fraud Perpetrators

“You’re in good hands.” Those words have a profoundly different context if you happen to be part of a group of individuals who submit “creative” claims to Allstate. In that case, those good hands will be locked in death grip …

Oregon Court Decision Forces Insurers to Change Auto Policy Language

The Oregon Supreme Court is at it again, although on a much smaller scale. Less than two years after the Oregon high court called into question the validity of every ex-clusion in an insurance policy with its decision in the …