As the number of companies suffering a data breach continues to grow – with U.S. retailer Staples now reported to be investigating a breach – so do the legal developments arising out of these incidents. While companies that have suffered a data breach look to their insurance policies for coverage to help mitigate some of...
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NOAA: Extreme Cold and Snow Unlikely This Winter
Winter storms caused $1.9 billion in insured losses in 2013, five times higher than the $38 million in damages seen in 2012, so it’s good to read via NOAA’s U.S. Winter Outlook that a repeat of last year’s winter of record cold and snow is unlikely. In a release, NOAA’s Climate Prediction Center says: Last...
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Physician dispensing in work comp; two victories!
I know, you are as tired of reading about physician dispensing in work comp as I am writing about it. At last, there’s some very good news. Quick refresher – docs dispensing drugs adds about a billion dollars in excess drug costs – plus increases disability duration by 10 percent, medical costs, and total claims...
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Earthquake Risk Rising
Some 25 years after the Loma Prieta earthquake, the San Francisco Bay area faces increased risk of a major quake, two separate studies suggest. A study published online in the Bulletin of the Seismological Society of America says that sections of the San Andreas fault system—the Hayward, Rodgers Creek and Green Valley faults—are nearing or...
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I.I.I. Report: Actuarially Sound Rates Key To Residual Property Market
Just in time for the peak of hurricane season, our updated paper on the residual property market is hot off the press. At first glance the numbers on the property insurance provided by the nation’s FAIR and Beach and Windstorm plans indicate that attempts by certain states to reduce the size of their plans appear...
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Joe Paduda’s “health policy stuff” Update
This biweekly edition of Health Wonk Review brings the best writing about health care, policy, and the impacts thereof direct to your eyeballs – with NO effort on your part! Roy Poses leads us off with his intel on the rollout of the Sunshine Act – the part of PPACA requiring much more disclosure of financial relationships...
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Cavalcade of Risk #218 Now Up
David Williams hosts this week’s abbreviated – but meaty – Cavalcade of Risk. From child-proofing your vacay to unique worker’s comp risk calculations, you’re sure to find something interesting. Thanks, David! The post Cavalcade of Risk #218 Now Up appeared first on Work Comp Roundup.
Drones and Insurance
Unmanned aerial vehicles (UAV), otherwise known as drones, appear to be moving closer to commercial application, and property/casualty insurers are getting involved. On the one hand, insurers are looking at ways to use this emerging technology to improve the services they provide to personal policyholders, at the same time they are assessing the potential risks...
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P/C Industry Poised for Further Growth Amid Stronger Economy
While low interest rates are likely to continue to present a challenge well into 2015, a stronger economy presents the property/casualty insurance industry’s best opportunity for growth, according to I.I.I. president Dr. Robert Hartwig. Dr. Hartwig shared his thoughts on the industry’s growth outlook in his Commentary on 2014 First Half Results. There are two...
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Bypassing Pharmacies Boosts Prescription Costs And Other Top News Tidbits
(Edited by The Insurance 411) Bypassing pharmacies boosts workers’ comp prescription costs in Pa. Nearly half of what Pennsylvania’s workers’ compensation program pays for prescription drugs goes to physicians who dispense them directly to patients, bypassing pharmacies, a lucrative practice that is limited by many states and not reimbursed at all by private insurance, Medicare...
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