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Given all the controversy about wind versus flood coverage following Hurricane Katrina, I invited Bob Hunter, director of insurance at the Consumer Federation of America, to lay out his arguments for why he believes there is an inherent conflict of interest when insurers must settle both types of claims–one type they cover and one they do not. Mr. Hunter is well acquainted with the program, having dealt with the problem first hand as a former federal insurance administrator. Read what he has to say and let me know what you think of his suggested reforms.Recommended Stories
An innovative insurance approach to urban forest management
Climate insurance solutions would support risk reduction and recovery activities within the urban forest.
Does insurance hold the key to building resilience for urban forests?
Community leaders and insurance carriers all have a role to play in bringing forest insurance products to market.
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eBook
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The Future of P&C Insurance: The Race to Contain Costs Amid Rising Catastrophic Losses
The P&C insurance sector is currently facing challenges. This eBook outlines the most pressing problems, the most promising solutions, and a few examples of these principles in action.
Case Study
Sponsored by CoreLogic
Revolutionizing Claims Processing: How a Leading Insurer Transformed Water Mitigation Reviews
Discover how one insurer drastically improved the efficiency of their water mitigation claim reviews, reducing costs and time while enhancing decision-making. Learn how this approach can transform your claims process, making it faster, more accurate, and less resource-intensive.
Assessment
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Distribution Channel Management Assessment
Navigating today’s insurance landscape requires more than instinct. Assess the strengths and gaps in your distribution strategy with this comprehensive tool. Discover actionable insights to refine operations, enhance data quality, ensure compliance, and scale efficiently. Evaluate your current capabilities and see where you stand across five crucial areas. Start building a more resilient and agile network today.
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