Sampson

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Top stories summarized by our editors

Sampson: Insurers ready to help policyholders hit by Ida

9/7/2021

Insurance companies "recognize the tragedy and anxiety that many American families, individuals and businesses are facing as wildfires and severe weather are raging in the midst of uncertainty over the pandemic," APCIA's David Sampson said. Policyholders affected by Hurricane Ida and other recent disasters should contact their insurer promptly to initiate the claims process, and those who evacuated should review their coverage with their carrier, Sampson said.

Sampson: Building costs add to storm-recovery concerns

8/9/2021

Property owners need to make sure they have the proper levels of insurance coverage as the Atlantic hurricane season nears its peak, especially as building material costs have skyrocketed amid supply chain problems and construction labor shortages, APCIA President and CEO David Sampson writes. "Insurers are also encouraging property owners to mitigate potential damage, which could help bend the loss curve and ease pressure on costs," Sampson writes.

Sampson: Transparency around litigation funding is needed

7/28/2021

The rise in third-party litigation financing "should concern everyone, particularly where that financing occurs away from public view and oversight, designed with rate of return in mind rather than justice and fairness," APCIA's David Sampson said. APCIA recently commended the US District Court for the District of New Jersey for mandating disclosures about litigation funding and encouraged other courts to adopt similar rules, while trucking industry experts are addressing concerns over litigation financing contributing to a rise in so-called nuclear verdicts against trucking companies.

Sampson: APCIA looks to help address ransomware threats

7/7/2021

The severity and frequency of ransomware attacks are rising "as bad actors continue to evolve and adapt," APCIA President and CEO David Sampson says. APCIA, which recently released its Cyber Extortion/Ransomware Guiding Principles, "has an opportunity to play a role in addressing this societal problem through partnership with policyholders, policymakers and other stakeholders," Sampson says.

Sampson: Loss costs up as prices of consumer goods rise

6/7/2021

Rising prices for consumer goods and services are placing pressure on insurance premiums and leading to increased claims costs, particularly for home and auto insurers, APCIA President and CEO David Sampson writes. Home insurers are seeing impacts as construction material costs rise and natural catastrophes become more severe and frequent, while auto insurers are being affected by higher auto-parts costs, litigation abuse and "nuclear" verdicts, Sampson writes.