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CFC expands IP insurance to include legal costs and trade secret breaches
[ad_1] The policy also allows for indemnity related to reasonable expenses incurred while mitigating claims – such as alternative suppliers, technical analysis, third-party design-arounds, or product recalls. In addition, reputation and brand protection is included, with support for costs linked to engaging public relations consultancies. [ad_2] Source link
California appeals court rules against hospital billing Progressive directly from UM policy
[ad_1] The dispute arose after a patient, M.G., who was covered by Medi-Cal, received emergency and ongoing treatment from Dameron following an automobile accident. During the admissions process, either M.G. or her representative signed the hospital’s Conditions of Admission (COA) form. That form included an AOB clause covering “all uninsured and underinsured motorist insurance benefits…
TMHCC CEO named APIW Insurance Woman of the Year
[ad_1] Her career began as an actuary at AIG before moving into underwriting, where she held senior positions, including president of American Home Assurance Company. She later joined Praetorian Insurance Company, which was acquired by QBE, where she served as president of QBE Specialty and chief actuary for QBE’s Americas division. Before TMHCC, she was…
Chubb consolidates two divisions in North America
[ad_1] Meanwhile, Ranucci has 17 years of experience in insurance and previously served as head of North America lower middle market and as global chief underwriting officer for small business. He will oversee operations, including profit and loss management, field and home office underwriting, product development, pricing, portfolio management and analytics. [ad_2] Source link
MPL market faces 10th straight year of underwriting deficit – AM Best
[ad_1] David Blades (pictured above), associate director, industry research and analytics at AM Best, said that social inflation, life care plans, jury anchoring, and litigation financing are frequently cited as contributing to the escalation of excess verdicts. [ad_2] Source link
How can the insurance industry stop nuclear verdicts?
[ad_1] While plaintiffs’ attorneys have evolved, adapting their trial tactics to maximize awards, defense lawyers remain stuck in the past, according to Tyson. The insurance industry’s response to litigation risk, i.e. building litigation management departments focused on controlling expenses, has done nothing to address the real enemy. It’s a miscalculation, Tyson believes, that’s costing carriers…