Archive for August 2020

Duck Creek Technologies Inc, a software company that serves the property and casualty (P&C) insurance market, on Wednesday raised the price range for its initial public offering (IPO) and expects to raise about $375 million. Boston-based Duck Creek, which is … Source: Claims Journal

The coronavirus pandemic dealt a relatively modest $2.5 billion blow to five insurers with large U.S. operations in the second quarter — a cost that was far less than feared and which the industry has absorbed without touching capital, analysts … Source: Claims Journal

A well-known workers’ comp number cruncher and an actuary are calling Chicken Little on insurance industry warnings about the cost of COVID-19 claims. Health Strategy Associates owner Joe Paduda and Bickmore Actuarial principal Mark Priven dispute assertions by Moody’s, the … Source: Claims Journal

LONDON — Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters fear the coronavirus pandemic will lead to hefty litigation claims. Premiums for directors’ liability insurance, known as D&O, … Source: Claims Journal

LONDON — Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday. Overall … Source: Claims Journal

OAKLAND, Calif. — Alphabet Inc’s Google’s Android phones on Tuesday started detecting earthquakes around the world to provide data that could eventually give billions of users precious seconds of warning of a tremor nearby, with an alerting feature first rolling … Source: Claims Journal

McDonald’s says it’s suing Stephen Easterbrook, the CEO it ousted last year over an inappropriate relationship with an employee, alleging Monday that he covered up relationships with three other employees and destroyed evidence. The company now wants to reclaim hundreds … Source: Claims Journal

JACKSON, Miss. — Four executives from two Mississippi poultry processing plants have been indicted on federal charges tied to one of the largest workplace immigration raids in the U.S. in the past decade. U.S. Attorney Mike Hurst and the acting … Source: Claims Journal

LOS ANGELES — There were no fires this time in Watts. There was no looting, no shooting and no National Guard troops patrolling. Protesters filled the streets around the country in late May and June following the Minneapolis police killing … Source: Claims Journal

PORTLAND, Ore. — Protesters outside a Portland police union building set fires and used a mortar to launch commercial grade fireworks at police and officials said Monday that two officers were injured and 16 demonstrators were arrested. A day after … Source: Claims Journal