Archive for March 2022

WASHINGTON (AP) — Companies critical to U.S. national interests will now have to report when they’re hacked or they pay ransomware, according to new rules approved by Congress. The rules are part of a broader effort by the Biden administration … Source: Claims Journal

NEW YORK (AP) — Kara Trainor composed herself, looked into a camera and began to speak to the drugmakers she holds responsible for two decades of suffering that has extended from her to a son born dependent on opioids. Three … Source: Claims Journal

Legal malpractice claims usually aren’t filed until after somebody loses a lawsuit. But what happens when the underlying dispute hasn’t been resolved, but a litigant has to hire new counsel to clean up mistakes that were made during discovery? A … Source: Claims Journal

Appraisal and arbitration are similar – and different. Are they so similar that appraisal can be called a form of arbitration, or are they so different that appraisal is a thing unto itself? And most important, the next time you … Source: Claims Journal

A committee of the Citizens Property Insurance Corp. governing body produced some good news on litigated claims and some bad news Thursday, giving further insight into a big part of Florida’s insurance market. The bad news first: The number of … Source: Claims Journal

It’s every investor’s dream: Make money when markets go up, and when markets go down, and even when markets go practically nowhere. But inside Allianz SE, where a handful of hedge fund managers claimed they could do just that, few … Source: Claims Journal

Aircraft lessor BOC Aviation Ltd 2588.HK believes a deadline giving lessors just over two weeks left to end contracts with Russian carriers due to sanctions over its invasion of Ukraine is “unrealistic,” a senior executive said on Thursday. “The EU … Source: Claims Journal

YOGYAKARTA, Indonesia (AP) — Indonesia’s Mount Merapi volcano spewed avalanches of hot clouds in eruptions overnight Thursday that forced about 250 residents to flee to temporary shelters and left ash blanketing nearby villages and towns. No casualties were reported. The … Source: Claims Journal

NEWPORT BEACH, Calif. (AP) — The pilot of a police helicopter desperately tried to keep flying before crashing into the ocean off Southern California last month, killing another officer, investigators said in a preliminary report Wednesday. Two Huntington Beach officers … Source: Claims Journal

Nearly a third of homeowners’ insurance claims are caused by water damage, costing carriers an average of more than $11,000 per claim. Insurers can recover some of those costs through subrogation if the damage was caused by defective materials or … Source: Claims Journal