Archive for August 2024

Insurers and reinsurers’ losses from Hurricane Debby are expected to be in the low single-digit billions of dollars, a figure that would be “very manageable” for the industry, according to a report from Gallagher Re. Wind and water-related losses could … Source: Claims Journal

Delta Air Lines said on Thursday it is pursuing legal claims against CrowdStrike and Microsoft after a global outage last month caused mass flight cancellations, disrupting travel plans of 1.3 million customers and costing it at least $500 million. A … Source: Claims Journal

More people are moving in than out of parts of the U.S. where wildfires, flooding and extreme heat are more common, a new report from Redfin shows. The nation’s high-fire-risk areas saw 63,365 more people move in than out last … Source: Claims Journal

The insurance industry is at a pivotal moment in embracing generative AI. According to the ISG Pulse Check State of the European Insurance Industry 2024, insurance firms are actively engaged in generative AI transformations and currently comprise nearly a quarter … Source: Claims Journal

A U.S. court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission said on Thursday. FTX drew customers in with “an illusion that it was a safe and secure … Source: Claims Journal

California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or … Source: Claims Journal

A U.S. judge dismissed on Wednesday much of Mexico’s $10 billion lawsuit seeking to hold U.S. gun manufacturers responsible for facilitating the trafficking of firearms to violent drug cartels across the U.S.-Mexico border. U.S. District Judge Dennis Saylor in Boston … Source: Claims Journal

Delta Air Lines was sued by passengers who complained that the carrier refused to offer full refunds after delaying or canceling their flights in the wake of last month’s massive computer outage. The proposed class action was made public on … Source: Claims Journal

If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award. That was the word this week … Source: Claims Journal

Catastrophic workers’ compensation claims present a complex web of medical, legal and financial challenges. Professionals need a roadmap for navigating the intricate journey from initial injury through long-term care and potential settlement, with key strategies to improve outcomes in these … Source: Claims Journal