In the eye of the storm: How insurers can manage SCS risk

In 2024, USAA returned $2.2 billion to members through distributions, dividends, and banking rebates and rewards. The company also paid $4.3 billion in catastrophe-related claims. It also reported process improvements, including a reduction in average catastrophe claims processing time from 14 days to seven days, using advanced technology. Source link

Jon Ward, APCIA’s department vice president of public affairs, emphasized the industry’s commitment to assisting policyholders, stating, “When disaster strikes, insurers’ overwhelming priority is to help their customers rebuild and restore their property.” Source link

With 198,000 businesses in the U.S., the clothing boutique industry is thriving, and continued growth is on the horizon. For the owners of these retail establishments, running a clothing store is more than a passion for fashion—it’s a business with real risks. From in-store slips to inventory damage, even a single incident can cause major…

Under the proposal, a “residential home safety and loss prevention course” is defined as a program that offers instruction on minimizing personal injuries and property losses from fire, theft, burglary, accidents, and weather-related events, including hurricanes, ice storms, and tornadoes.  Source link

Lok-N-Logs, Inc., which owns a warehouse in the Village of Sherburne, Chenango County, filed a claim with Leatherstocking Cooperative Insurance Company after copper and brass were stolen from the building’s electrical and plumbing systems during a break-in in April 2020. Leatherstocking denied the claim, invoking policy exclusions that bar coverage for vandalism when a property…

Everest Group appoints Darryl Page to board Everest Group has named Darryl Page (pictured above, left) as an independent, non-executive board member. Page brings more than 40 years of experience, including leadership roles at Chubb, Fireman’s Fund and Allstate. Source link