Archive for July 2024

Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Florida insurance agents are now … Source: Claims Journal

The U.S. Transportation Department said on Tuesday that it is opening an investigation into Delta Air Lines after the carrier canceled more than 5,000 flights since Friday as it struggles to recover from a global cyber outage that snarled airlines … Source: Claims Journal

Industry stakeholders continue to try to get a grasp of the implications from last week’s massive technology outage affecting motley industries around the world, but the theme of policy language is reoccurring for a cyber insurance industry not known for … Source: Claims Journal

U.S. severe convective storms continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, SCS accounted for a minimum $37 billion – or 61% … Source: Claims Journal

Pinnacle Actuarial Resources Inc. added Sara Chen, Nathan Dykstra and Juhyun Shin as consulting actuaries. Chen was most recently as an actuarial senior consultant for Nationwide. She has worked in the industry since 2017 and is located in Des Moines, … Source: Claims Journal

Boeing-owned Wisk Aero expects its pilotless air-taxi to begin carrying passengers “later in the decade” as it works with the U.S. regulator to secure approvals, its CEO said on Monday, amid skepticism among industry analysts about certification timelines. Wisk is … Source: Claims Journal

A nationwide AT&T wireless outage in February that lasted over 12 hours blocked more than 92 million voice calls and prevented more than 25,000 attempts to reach 911, according to report released Monday and first reported by Reuters. The U.S. … Source: Claims Journal

Four insurance companies, unable to escape a duty to defend a New York hotel where a young woman was secretly videotaped in the shower in 2015, have reached a settlement in the case that made headlines around the world. Citizens … Source: Claims Journal

Delta Air Lines canceled more than 600 flights on Monday, as the U.S. air carrier continued to struggle to restore operations after last week’s global cyber outage, even as other airlines were recovering from the incident. About 16% of Delta’s … Source: Claims Journal

A half-dozen Maui wildfire victims sued a group of insurers, including State Farm and Allstate, accusing them of throwing a wrench into a tentative $4 billion deal to settle their claims. The lawsuit filed Friday in state court in Maui … Source: Claims Journal