Archive for June 2020

Michigan Gov. Gretchen Whitmer is requesting a federal disaster declaration for the Midland area, where a failure of two dams destroyed 150 houses and caused more than $200 million in damage. Under a disaster declaration, Whitmer said she hopes to … Source: Claims Journal

The U.S. oil and gas industry is paying a hefty price to protect its top brass against potential bankruptcy and investor lawsuits. Oil companies are shelling out as much as 75% more to renew insurance liability coverage for directors and … Source: Claims Journal

Catastrophe modeling firm Karen Clark & Company (KCC) said on Wednesday it expects insured losses of close to $150 million from tropical storm Cristobal. Cristobal is the third named storm to form and impact the United States coast during this … Source: Claims Journal

Analysts for Standard & Poor’s Global Ratings shared a view that U.S. underwriting losses from COVID-19 would fall in the $15-$30 billion range. However, risk officers speaking at a rating agency conference last week said the estimate is light. S&P … Source: Claims Journal

Tony Banks told Amazon.com Inc. right away when he tested positive for Covid-19. More than a month later, he’s on the mend, but struggling with fatigue and shortness of breath that makes most physical activity feel like he’s just sprinted … Source: Claims Journal

The sunsets are still there. So are the eagles. And the deer. Now, with access to the Missouri River mostly open in the Omaha metro area, the boaters, birders, anglers and nature lovers are back, too. The reopening of Omaha’s … Source: Claims Journal

The U.S. National Transportation Safety Board (NTSB) on Monday urged strengthening air cargo shipping requirements for prototype and low-production lithium-ion batteries after a 2016 FedEx delivery truck fire in Canada. NTSB official Robert J. Hall said existing rules pose a … Source: Claims Journal

Startup Betterview raised $7.5 million in new funding to fuel expansion of its artificial intelligence technology that helps property/casualty insurance carriers spot and manage property risk. Guidewire Software led the round, which brings the insurtech’s total venture capital tally to … Source: Claims Journal

A U.S. appeals court has blocked Bayer AG from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product. A three-judge panel of the 9th U.S. … Source: Claims Journal

More hurricanes and tropical storms than usual could make landfall in the United States this summer, forecasters predict. That is sending Texans and officials who are increasingly facing severe weather events scrambling to prepare for another natural disaster while they … Source: Claims Journal