Deductible

“UNDER DEDUCTIBLE” SUBROGATION & DEDUCTIBLE REIMBURSEMENT: Helping Insureds Battle the Cost of Insurance

Insurance policy deductibles and subrogation make strange bedfellows. Most property and automobile insurance policies require that the insured pay a deductible—an out-of-pocket payment the insured is required to pay toward a covered loss before the insurance company kicks in with its own claim dollars. Some policies allow the insured to select a deductible, with the…

Uninsured Motorist

UIM Coverage and the “Floating Layer” Theory

Most insurance claims professionals understand that, as opposed to uninsured motorist (UM) coverage, which pays damages to an insured who is involved in an accident with an uninsured driver, underinsured motorist (UIM) coverage is automobile insurance coverage which protects an insured involved in an accident with a tortfeasor who doesn’t have liability limits sufficient to…

Chat GPT

What Artificial Intelligence Has to Say About the Societal Benefits of Insurance Subrogation

By ChatGPT (artificial intelligence chatbot) Foreward By Gary L. Wickert Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by computers or machines, as opposed to actual human intelligence. According to the current system of classification, there are actually four types of AI: reactive, limited memory, theory of mind, and self-aware. For many of us,…