Archive for March 2020

An insurer whose policy covers the “actual cash value” of a property may deduct for depreciation of labor costs when it calculates the amount of the loss, the North Carolina Supreme Court ruled. The court noted that the question of … Source: Claims Journal

LOS ANGELES — In a Koreatown restaurant known for its beef bone broth soup, the lunchtime crowd Friday was half its normal size. The reason was a virulent rumor about a customer with coronavirus. Han Bat Shul Lung Tang was … Source: Claims Journal

At least 3.8 million U.S. homes lie in flood plains. Together, they may be overvalued by $34 billion. New research published today in a National Bureau of Economic Research working paper shows that markets fail to incorporate risks from flooding … Source: Claims Journal

DES MOINES, Iowa — The Iowa Supreme Court on Friday dramatically reduced the compensation a paralyzed northeast Iowa man received from a jury in a lawsuit against an insurance company even while finding the company’s actions were “reprehensible.” Despite criticizing … Source: Claims Journal

Apple Inc. has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries. The preliminary proposed class-action settlement … Source: Claims Journal

Even as U.S. officials warn of an inevitable outbreak of coronavirus in the United States, and are alerting Americans to take precautions, some health agencies charged with protecting the public appear unprepared to deal with the threat. Barely more than … Source: Claims Journal

Autopilot, Super Cruise and Drive Pilot are different names given to technology that automates steering and braking in a growing number of vehicles, but none of it can safely “pilot” cars without regular human intervention. These systems and the potential … Source: Claims Journal

For the second year in a row, much of the U.S. is primed to suffer multi-billion dollar flood losses, with farmers already steeling themselves for planting delays. Relentless storms that have marched across the Midwest and into the South this … Source: Claims Journal

U.S. regulators have told Boeing Co. that pilots may require additional training to properly respond to emergencies on the 737 Max after airline crews failed to perform proper procedures in simulator tests. In a Feb. 19 letter to Boeing reviewed … Source: Claims Journal

Nationwide Teams With Notion for Smart Home Monitoring Nationwide has teamed up with Notion to offer smart home monitoring products to policyholders to guard against theft, fire and water damage. The Notion smart home monitoring system uses sensors with multiple … Source: Claims Journal