Archive for January 2020

U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious programs, … Source: Claims Journal

The past decade broke new records in terms of economic damages and insured losses, according to Aon’s latest catastrophe report. The costs to global economies reached US$2.98 trillion between 2010 and 2019, which was US$1.19 trillion higher than 2000-2009, said … Source: Claims Journal

BEIJING/SHANGHAI, Jan 22 Deaths from China’s new flu-like virus rose to 17 on Wednesday, with more than 540 cases confirmed, leading the city at the center of the outbreak to close transportation networks and urge citizens not to leave as … Source: Claims Journal

RiskStream Launches Innovation Lab The RiskStream Collaborative, a consortium of insurers that making a joint investment in blockchain technology, has created a new entity that will work with insurers, non-insurance organizations and governmental agencies that are looking to explore targeted … Source: Claims Journal

HONOLULU — The family of a 5-year-old boy who died on a kayaking excursion filed a lawsuit against the school that conducted the trip. The family of Alaric Chiu filed the lawsuit Thursday against Mid-Pacific Institute citing reckless behavior and … Source: Claims Journal

The owner of a tourist duck boat that sank in a Missouri lake, killing 17 people, has settled its final pending lawsuit for an undisclosed amount. Thirty-one lawsuits have been filed against Ripley Entertainment since the former World War II … Source: Claims Journal

OMAHA, Neb. — How many people does it take to operate a locomotive? For the railroad industry, the answer is simple: One. The industry is hoping this year’s scheduled completion of an automatic railroad braking system will bolster its argument … Source: Claims Journal

It’s out: the annual report by tort reform advocates of what they say are the nation’s worst local courts and states that are abusing the civil justice system. The report also warns of state courts that did not make the … Source: Claims Journal

Airbnb Inc. is laying the groundwork for a public market debut later this year, announcing a new corporate governance strategy that values safety, sustainability, diversity and accountability. The home-share startup has said it will track guest safety incidents, verify all … Source: Claims Journal

A Pennsylvania judge on Friday slashed to $6.8 million from $8 billion a punitive damages award against Johnson & Johnson to a man who said it failed to warn that boys using its antipsychotic drug Risperdal could grow breasts. Judge … Source: Claims Journal