Apportionment of layered property coverage expenses

Article Abstract:

A study of the problems related to the apportionment of layered property coverage expenses indicates that disagreements over the apportionment of claim-related costs entail huge amounts, that foreign insurers are frequently implicated in these disputes, that claim handling expenses are not always well comprehended and that resolution is made difficult by arguments between layers of coverage and among participants on the same layer. In this light, more practical guiding principles for communication and claim coordination between multiple parties are recommended.

Fire, marine, and casualty insurance, Analysis, Insurance claims adjustment, Claims adjustment (Insurance)

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Hurricane modeling and the Florida Commission

Article Abstract:

Florida created the Florida Commission on Hurricane Loss Projection Methodology in 1995 to settle disputes between actuaries in assessing the losses in natural disasters. The move was prompted by recent disasters such as Hurricane Hugo in 1989 and Hurricane Andrew in 1992 which have revealed inadequacies in methods of evaluating catastrophe costs. The commission set its own standards in evaluating computer-aided catastrophe models used in estimating risks and losses.

Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Other Justice, Public Order, and Safety Activities, Surety insurance, Disaster Insurance Programs, Models, Management, Florida, Natural disasters, Hurricanes, Disaster insurance

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