Archive for September 2024

Two organizations recently expressed optimism that the softening cyber market that emerged in 2023 will remain favorable into the future. In separate reports, Moody’s Ratings and Amwins Brokerage offered insights on the sector’s landscape. Moody’s shared that the market is … Source: Claims Journal

Francine knocked out power to more than 400,000 homes and businesses and canceled hundreds of flights across the US South after coming ashore as a hurricane. The storm has weakened to a tropical depression with winds of 35 miles (55 … Source: Claims Journal

Several global automakers are scaling down their electrification targets, hurt by slowing demand for fully electric vehicles due to lack of affordable models, slow roll-out of charging points, growing trade tensions and increased competition from cheaper Chinese rivals. The global … Source: Claims Journal

U.S. nuclear verdicts are breaking records with 27 court cases each awarding compensation of more than $100 million during 2023, according to Swiss Re executives. Social inflation in U.S. rose to 7% in 2023 – a 20 year high – … Source: Claims Journal

Very few people who live near the East Palestine, Ohio, train derailment opted out of a $600 million class action settlement despite residents’ reservations about whether the deal offers enough, so lawyers argue the agreement should be approved later this … Source: Claims Journal

Venbrook Group LLC is expanding its private risk practice by opening of a new West Coast office. Venbrook has also named Christina Oakes executive vice president of the division. She will be based in Los Angeles. Oakes has more than … Source: Claims Journal

Toronto-Dominion Bank will pay almost $28 million in fines and restitution after the Consumer Financial Protection Bureau said the lender shared inaccurate information about tens of thousands of U.S. customers with consumer reporting companies. A CFPB investigation found the information … Source: Claims Journal

U.S. utilities faced a near 70% jump in cyberattacks this year over the same period in 2023, according to data from Check Point Research, underlining the escalating threat to a critical infrastructure. The utilities and power infrastructure across the U.S. … Source: Claims Journal

Electronic-payment gateway Slim CD has notified customers that its systems were hacked starting more than a year ago, potentially exposing the names, addresses, and credit card information of nearly 1.7 million individuals. The Coral Springs, Florida-based company that handles credit … Source: Claims Journal

A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of Insurance Regulation reported this week. The … Source: Claims Journal