Archive for August 2023

Claims for weather-related incidents are set to exceed $100 billion for the third year in a row, as floods, hail and wildfires linked to climate change become more frequent. Munich Re has put the total global insured costs of natural-catastrophe … Source: Claims Journal

Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report. “Reinsurers generally have realigned their risk profiles and are in a strong position to … Source: Claims Journal

When to harvest is one of the most crucial decisions a winemaker can make. Too early, and the result is bitter. Too late, and it’s overly sweet. It’s a delicate balance—one that’s increasingly being upended by the climate crisis. In … Source: Claims Journal

The New York Knicks sued the Toronto Raptors, claiming a former Knicks employee stole scouting reports and other proprietary information after getting a job offer at the rival National Basketball Association team. The Knicks filed suit Monday against the Raptors, … Source: Claims Journal

Berkley Assurance Co. is asking a federal judge in Virginia to throw out a $5.8 million jury verdict against it in a case where the insurer maintains a construction firm failed to notify it of its mold claim in a … Source: Claims Journal

United Airlines has agreed to a $30 million settlement after a deplaning incident left a quadriplegic man in a vegetative state, court papers show. The settlement with the family of Nathaniel Foster Jr, known as N.J., was disclosed on Tuesday … Source: Claims Journal

The Biden administration on Tuesday finalized tighter rules for complex devices meant to prevent catastrophic blowouts on offshore oil and gas drilling rigs, reversing some Trump administration policies and returning to a more stringent regulatory stance adopted after the 2010 … Source: Claims Journal

Advancing flames devoured forests and homes as dozens of wildfires raged across Greece on Wednesday, leaving 20 people dead over the past three days, while major blazes also burned in northwestern Turkey near the Greek border and on Tenerife in … Source: Claims Journal

Drugmaker Mallinckrodt aid on Wednesday it expects to file for a second bankruptcy in the coming days, after reaching a debt reduction deal that would cut $1 billion from the amount it owes to victims of the opioid crisis. The … Source: Claims Journal

The U.S. workplace safety regulator said on Wednesday it was investigating a recent chemical solvent leak at an Ohio battery plant jointly owned by General Motors and South Korea’s LG Energy Solution The joint venture, Ultium Cells LLC, said on … Source: Claims Journal