Previous Announcements
● A public watchdog group
needed assistance in their efforts to question the latest
utility rate hike in front of the local public utility
commission. The matter involved questioning the substantial
portion of the rate hike attributable to insurance costs. IEN
placed a local insurance expert who had experience in placing
and advising on the same type of insurance within the same
market factors as the utility was encountering.
● A claims handling expert is
presently assisting an attorney on a case involving a
residential fire loss. During the claims adjusting process
there were certain actions taken by the adjuster which appeared
to be irregular and not in conformance with industry standards
and practices. There are allegations of breach of contract, a
claim of bad faith and a violation of the state’s Unfair Trade
Practice Act.
●
IEN referred 4 highly qualified
experts to an attorney on a matter early in the discovery phase
involving questions surrounding the premium development for a
large Property & Casualty and Professional Liability coverage
program. IEN placed the expert who was retained to help form
the interrogatories and other discovery requests for the case.
The experts all met the requirements to be able to evaluate the
premiums developed, loss effects on premiums and the algorithms
underlying the results.
●
An
insurance actuarial expert was retained in order to value
damages due a health policy insured. IEN referred the expert to
an attorney representing the insured. The basis for the suit
was that the health insurance company attempted to cancel the
health policy and failed to do so correctly. The expert is to
value several different aspects of premium and benefits over the
projected life of the insured.
●
Insurance
Expert Network successfully introduced a property insurance
claims expert to an attorney who retained the expert to review,
evaluate and report on the claims handling that was done on a
specific claim on a residential property. The claim was for
water damage to the insured property due to a covered cause of
loss. The attorney reported to IEN that the introduced expert
had nearly the perfect claims handling and expert witness
experience for his case.
●
An attorney
looking for a life insurance underwriting expert came to IEN.
In less than 24 hours IEN had referred two life insurance
underwriting experts who could opine on the rescission based on
material misrepresentation. Within a 2 year contestability
period the carrier attempted to rescind the life Insurance
policy based on answers given in the application. These answers
were investigated by the carrier subsequent to the claim
presentation. The plaintiff is contesting that the answers were
misrepresentations.
●
Insurance Expert Network, LLC placed a life insurance expert on
a case. The expert will offer his opinion not only on the Error
& Omissions of the agent for possibly not processing the
insurance application properly, but also on the life insurance
company’s alleged claims handling bad faith. The claims
handling by the company were to be analyzed by the expert to
determine if the handling met industry customs & practices and
whether they also fell within state insurance regulation
requirements.
●
An IEN
insurance claims expert recently was retained on a case
which involved the question of coverage applicability for
medical bills under workers compensation and commercial
general liability policy. IEN was able to provide an expert
familiar with not only the coverage forms but also the
claims handling standards, industry and specific domicile
issues of the insured.
●
On
very short notice, IEN was able to provide a liability
insurance expert to an attorney who was able to provide not
only the requested review and analysis the case documents
but also to provide an affidavit within the deadline. The
case involved whether the carrier conducted itself within
both industry standards and practices but also insurance
regulatory requirements.
●
Insurance Expert Network, LLC referred an life insurance
actuary expert to an attorney who needed one to review and
analyze a single premium life insurance policy and the
performance of it over time. The attorney was unsure whether
he needed an underwriting or actuary expert. IEN was able
to provide several experts in both categories and provided
conference calls with any of the experts with whom the
attorney wanted to speak.
●
In a
recent case involving a property insurance claim denial
there were also issues of insurance broker errors &
omissions. We were able to provide an insurance expert who
had both company underwriting and insurance agency/brokerage
knowledge. The expert provided could handle the near term
agency/brokerage standards and practices and, if required
later, would be able to provide the property insurance
underwriting expertise.