Catastrophes like floods, fires, earthquakes, tornados and hurricanes can cause widespread property damage — suddenly forcing families out of their homes and in need of temporary housing. Many of those displaced are eligible for coverage of the…
In the insurance space, the concept of an indemnity period specifies the time frame for which the policyholder (insured) can claim compensation for financial losses resulting from an insured event. It serves as a boundary for the coverage provided by…
Across the auto industry, trends range from lengthy cycle times and high indemnity costs to inefficient repair processes. This can often mean having to make a dozen calls to solve each challenge. But what if carriers and third party administrators (T…
The marine insurance sector is a rather traditional business; we are not exactly known for being early adopters of innovation. Despite the tendency for slow adaptation to change, two factors are pushing the industry to begin thinking and operating di…
When you think about first responders, what image comes to mind? For many, it’s police, firefighters, paramedics or 911 operators. Those in the insurance industry may see loss adjusters assessing damage. Unless you work in our field, it’s unlikely yo…
For anyone dealing with a property damage loss, it can be inconvenient at best and traumatizing and life-altering at worst. But for those who are already vulnerable, the experience can be exponentially more difficult. In commemoration of World Alzhe…
In tough economic times and a tight labour market, the opportunity to use unvetted contractors to undertake repairs can be enticing. However, homeowners, business owners, property managers and insurers must keep in mind that using lower-priced, unvet…
Automotive industry stakeholders are watching closely as hurricane season brews in the Atlantic. The auto sector — already strained by lingering supply chain disruptions, parts shortages, rising costs and insufficient skilled laborin the repair…
In a typical day, a variety of situations may unfold that could stop a business’s operations in its tracks. Consider for example, a warehouse of consumer goods is heavily damaged by a tornado. It partially rips off the roof and destroys a considerabl…
Many in the Northern Hemisphere are celebrating the arrival of summer, but for the southeastern U.S. and Caribbean regions, this time of year ushers in the perils of Atlantic hurricane season. Sedgwick’s repair solutions team has many years of experi…
A new type of insurance policy is emerging in global markets: parametric insurance. As with any insurance coverage, it comes with both benefits and risks. To determine when it would be appropriate to take out a parametric cover, we must first underst…
May is Building Safety Month, an international campaign to raise awareness about the importance of building safety and what it takes to create and maintain safe, sustainable and resilient structures. As building consultants for Sedgwick’s property so…
The Property & Liability Resource Bureau (PLRB) will host the 2023 PLRB Claims Conference & Insurance Services Expo March 19-22 in Orlando, Florida. An array of stakeholders will come together to exchange ideas about restoration in business income (B…
Price increases can be seen across all industries — from food and fuel to construction and manufacturing. When we look at the claims industry, these same factors are influencing costs in workers’ compensation, auto and property claims. Inflati…
As reported in the Financial Times, on 31 August 2022, the head of one of the world’s largest building materials companies confirmed that he’s seeing a ‘second wave of cost increases’ following the surge in gas prices. Spiralling energy prices are …