Archive for April 2024

Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with U.S. claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a … Source: Claims Journal

Nord Stream’s insurers have denied that their policies provide cover for gas pipelines damaged by blasts in 2022 because the damage was caused by war, in their written defense to a lawsuit filed at London’s High Court. Nord Stream is … Source: Claims Journal

Coverys named Brian J. Farrell Jr. senior vice president of claims. Farrell was most recently vice president of claims at Chubb, where he was responsible for differentiating the claims experience and solution management for large and complex clients. Coverys is … Source: Claims Journal

Five insurance companies have been ordered to pay $345 million to cover damages awarded to 20 men who said they were victims of sexual abuse at a prestigious boarding school in Georgia in the 1970s and 1980s. Floyd County Superior … Source: Claims Journal

New York Attorney General Letitia James announced an agreement with the Roman Catholic Diocese of Brooklyn to address years of reported mismanaging clergy sexual abuse cases and for failing to uphold the policies and procedures it adopted for investigating and … Source: Claims Journal

When cars began to hit American roads in great numbers a little more than a century ago, they did more than create a sense of freedom (and, eventually, traffic jams). They created new markets in a wide range of industries, … Source: Claims Journal

Few people in Florida and California will be surprises to hear that the majority of homeowners in those states have been affected by rising property insurance costs. A survey by Redfin, a U.S. real estate broker, found that just over … Source: Claims Journal

California’s already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone state entirely starting in July. The two companies, units … Source: Claims Journal

United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday. U.S. regulators had in January grounded some Boeing 737 MAX … Source: Claims Journal

Smartmatic has settled a lawsuit accusing right-wing television network One America News of defamation by falsely claiming that the voting technology company rigged the 2020 U.S. presidential election to help Joe Biden beat Donald Trump. Terms of the settlement are … Source: Claims Journal