Title Insurer First American Says App Defect May Have Exposed Customer Data

U.S. real estate title insurance company First American Financial Corp. said on Friday it had learned of a design defect in one of its production applications that had made possible unauthorized access to customer data.

The statement was sent in response to a report by security news website Krebs on Security, which said First American’s website had exposed about 885 million files dating back to 2003.

Research Finds No Improvement in Worker Outcomes When Medical Prices Increase

When the price of physician services increases relative to group health rates, injured workers report fewer problems getting the care they want but no significant improvement in physical function or speedier return to work, according to a study released Thursday by the Workers’ Compensation Research Institute.

WCRI used data taken from interviews with injured workers in 14 states and claims data from 30 states to measure the impact of medical price changes, relative to prices paid by group health.

Should California Insure Against Spending too Much on Fighting Wildfires?

(TNS) - This would be a first for California: state government buying insurance to protect itself against overspending its budget.

But before you start pelting the politicians and screaming fiscal irresponsibility, know that the budget-busting would be for fighting wildfires.

That puts it in an entirely different category from, say, controversial spending to help immigrants who are here illegally, or trying to register voters at the notoriously jammed DMV.

California Utility Sued by Insurers Over Wildfire Damages

Several insurance companies have filed lawsuits blaming Pacific Gas & Electric Co. for a deadly California wildfire that destroyed 14,000 homes and triggered billions of dollars in insurance claims.

The lawsuits filed by Allstate, State Farm, USAA and their subsidiaries come on top of several other cases filed by victims of the Camp Fire, which devastated the towns of Paradise, Magalia and Concow north of Sacramento after it started Nov. 8.

Largest Wildfire in California History Officially 100% Contained

Officials announced on Wednesday that the Mendocino Complex Fire, the largest wildfire in California’s history, is now 100 percent contained.

The blaze burned a combined 459,123 acres, destroyed 280 structures including 157 residences, killed one firefighter and injured four others. The Mendocino fire north of San Francisco broke the record set in December, 2017, when the Thomas Fire killed two people, burned 440 square miles and destroyed more than 1,000 buildings in Southern California.

California’s Governor: Insurance Fared Better in Wildfires Bill

California lawmakers didn’t go as far as Governor Jerry Brown wanted to address potential liabilities for utilities from wildfires, and the governor said that “it’s hard to say” if they ever would.

Brown, citing longstanding practice, declined to say if he would sign the bill passed last month that included measures considered beneficial for utilities such as PG&E Corp. But the wide-ranging plan didn’t tackle the issue of inverse condemnation, in which utilities can be held liable for costs if their equipment is found to have caused a fire — regardless of whether they followed safety rules. Brown had pushed a proposal that would have given utilities relief from the rule, which was opposed by insurance companies, trial lawyers and fire victims.

Report Shows California Wildfires, Climate Change Altering Insurance Landscape

Insurers may be non-renewing more in wildfire-prone areas of California, sending an increasing number of people to the residual market or to surplus lines insurers.

A report released on Monday shows that market shares of the FAIR Plan, the state’s residual insurance market, and the surplus lines market, are on the rise, as people look for coverage, and look for more affordable coverage.

Wildfires are inevitable – increasing home losses, fatalities and costs are not

Wildfire has been an integral part of California ecosystems for centuries. Now, however, nearly a third of homes in California are in wildland urban interface areas where houses intermingling with wildlands and fire is a natural phenomenon. Just as Californians must live with earthquake risk, they must live with wildfires.

Shaped by ignitions, climate and fuels, wildfires are likely to become more frequent and severe with climate change. The 2017 experience of the largest and most damaging wildfires in California history, and ongoing destructive fires in 2018, provide a window of opportunity for learning to better coexist with wildfire.

California Wildfire Insurance Policy Notification Bill Signed

California Gov. Jerry Brown has signed legislation to requires insurance companies to let homeowners know whether their policies are sufficient to rebuild or replace their homes after a disaster.

Assembly Bill 1799, by Assemblyman Marc Levine, D-Marin County, addresses consumer protection and underinsurance issues uncovered by the devastating 2017 wildfire season.

Pages

Subscribe to RSS - Insurance