Archive for June 2020

Pandemic threats were once on the list of potential emerging risks facing the insurance industry and society. Now that this risk has materialized with the COVID-19 crisis, it is perhaps a good time to take a look at the latest … Source: Claims Journal

One nearly empty passenger jet “climbed like a rocket,” prompting the pilots to exceed their assigned altitude. Others have scraped their tails on takeoff, gone off course or strayed close enough to other aircraft to prompt mid-air collision alerts. The … Source: Claims Journal

A lawsuit has been filed against the owners and operators of a World War II-era airplane that crashed at a Connecticut airport last October, killing seven people. The lawsuit, filed Tuesday in state Superior Court by survivors of the crash … Source: Claims Journal

Global insurance companies linked to Adani’s Carmichael coal mine in Australia are distancing themselves from the controversial development, as pressure mounts on financial institutions to cut their ties to the fossil fuel industry. A growing global consensus has seen financial … Source: Claims Journal

Google filed a lawsuit accusing home speaker maker Sonos Inc. of infringing five of its patents, escalating tensions between the partners that have already led to a U.S. International Trade Commission probe. In a complaint filed on Thursday in San … Source: Claims Journal

Atlanta-based global insurance claims management firm McLarens reported it has acquired London-based Lloyd Warwick International (LWI), a provider of global specialty loss and insurance adjusters. McLaren purchased the firm from LWI employees and Crawford & Co. Financial terms of the … Source: Claims Journal

Nebraska potentially faces nearly $3.7 billion in agricultural losses from the coronavirus pandemic if economic conditions do not improve, the Nebraska Farm Bureau said. Its estimate projects revenue losses for this year’s commodities, including corn, soybeans, wheat, beef cattle and … Source: Claims Journal

Drivers working for ride-hailing services such as Uber Technologies Inc. and Lyft Inc. will be considered employees under California’s new gig worker law, the state’s leading industry regulator said on Thursday. Shares in Uber and Lyft fell 5.3% and 4.2%, … Source: Claims Journal

Players should expect the directors and officers insurance market to “undergo radical changes” based on 2019 results and the “unprecedented turbulence” created by the COVID-19 pandemic, according to an A.M. Best report. A.M. Best expects that the efforts to address … Source: Claims Journal

U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 … Source: Claims Journal