Archive for January 2024

With the Red Sea crisis roiling shipments of everything from cars to energy, it’s a matter of time before soaring costs and supply-chain strains show up in companies’ earnings reports. Several firms are already warning of the impact. Electric-vehicle maker … Source: Claims Journal

Successful litigants holding trial-court judgments have traditionally found themselves positioned similarly to mountaineers atop Mount Everest: After a long, brutal and costly ascent to the summit, they are only halfway home, as their opponents vow to appeal and take their … Source: Claims Journal

Sedgwick named Kimberly George its global chief brand officer. George will serve as a member of the company’s marketing and communications leadership team and a global ambassador for the Sedgwick brand. With 22 years of tenure at Sedgwick, George has … Source: Claims Journal

Florida is planning to borrow as much as $3.8 billion to infuse a state fund that reimburses property insurers for losses when homes are damaged or destroyed by hurricanes. The Florida State Board of Administration Finance Corporation expects to sell … Source: Claims Journal

Progressive Casualty Insurance and North Carolina-based Builders Mutual Insurance Co. have been served with class-action lawsuits over data breaches on their own computer systems in 2022, cyber attacks that may have exposed the personal data of more than 411,000 people. … Source: Claims Journal

The vast majority of insureds expect claim payouts to take no more than five days, a new survey shows. The survey shows 82% of customers expect claim payouts to take no more than five day, and 1% of respondents were … Source: Claims Journal

Chicago commuters will have a slippery start to the work week as a couple waves of ice and sleet are due to come their way through Tuesday. The current forecast calls for 0.1 to 0.25 of an inch of ice … Source: Claims Journal

The U.S. Federal Aviation Administration has recommended that airlines operating Boeing 737-900ER jets inspect door plugs to ensure that they are properly secured after some operators reported unspecified issues with bolts upon inspections. Regulators have stepped up scrutiny on Boeing … Source: Claims Journal

Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in … Source: Claims Journal

Anyone who has lived through a natural disaster and then applied to the federal government for assistance knows that it can be a lengthy, frustrating and bureaucratic process. New rules announced Friday by the federal agency in charge of emergency … Source: Claims Journal