Archive for September 2020

Gold Medal International is sitting on millions of dollars worth of socks at its North Carolina warehouse that it can’t ship to stores. The reason? The 66-year-old family-owned sock maker can’t get enough credit insurance to cover potential losses if … Source: Claims Journal

COLOMBO, Sri Lanka — Sri Lanka’s government is sending scientists to determine whether a three-day fire on a giant oil tanker off its coast damaged the marine environment, an official said Monday. Ships and helicopters from Sri Lanka and neighboring … Source: Claims Journal

SHAVER LAKE, Calif. — Rescuers in military helicopters airlifted 207 people to safety over the weekend after an explosive wildfire trapped them in a popular camping area in California’s Sierra National Forest, one of dozens of fires burning amid record-breaking … Source: Claims Journal

Another federal court has dismissed a COVID-19 business interruption lawsuit, finding that a closure order does not constitute a covered “direct physical loss” and that the policy excluded damages caused by viruses anyway. The ruling by the U.S. District Court … Source: Claims Journal

A painting by American artist Robert Spencer, missing since 1995, was recovered after a Pennsylvania art museum included it in an exhibit. Christopher A. Marinello, owner of Art Recovery International, said one of his researchers spotted a notice in November … Source: Claims Journal

Hundreds of COVID-19 lawsuits have been filed across the country and business leaders say liability immunity is necessary in order to protect against abusive and meritless lawsuits. The stakes are high. Big and small businesses alike are targets for opportunistic … Source: Claims Journal

As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged or evacuated because of natural catastrophes … Source: Claims Journal

While few, if any, organizations saw the coronavirus pandemic and all of its death and disruption coming, some were better positioned to deal with it than others. According to risk expert Jim Wetekamp, some organizations were better prepared to respond … Source: Claims Journal

DETROIT — Safety features such as automatic emergency braking and forward collision warnings could prevent more than 40% of crashes in which semis rear-end other vehicles, a new study has found. The Insurance Institute for Highway Safety, a research group … Source: Claims Journal

OMAHA, Neb. — Tyson Foods is planning to open medical clinics at several of its U.S. plants to improve the health of its workers and better protect them from the coronavirus. The Springdale, Arkansas-based company, which processes about 20% of … Source: Claims Journal