Forensic investigation is hardly an unknown field to the insurance industry. However, an area that seems to garner little attention in claim investigation procedures is forensic entomology — which could save insurers and insureds millions of dollars. Bug investigations? You have to be kidding. But, as the following case study reveals, insects can reveal many secrets in the process of claims investigation.
With the growth of property and casualty insurance industry earnings having plummeted to almost a 20-year low on the back of poor investment returns and intense rate competition — which saw last year’s annual rate of premium growth clock in…
Consumer suspicion of insurance companies has reached the point that it is now part of American pop culture to view them as commonplace in the U.S., as are awards of punitive damages.
Consistency and convenience have been earmarked as the key factors likely to satisfy the consumer of the future. The rapid advancements made on the technology front over recent decades are largely responsible for this shift in consumer expectations. To survive…
I am often asked what my profession is. Instead of saying, “insurance adjuster” I often respond “an arson investigator”. I choose the latter for simplicity and to avoid a volley of complaints from the public over perceived injustices in the settlement of claims.
In the early days of environmental underwriting companies were often unaware of the full risk involved. For many companies the risks they took on and subsequent claims were not foreseen. For others, while the possibility of large claims may have…