Archive for September 2024

U.S. property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average U.S. property insurance rate decreased 0.94% in the second quarter from a year … Source: Claims Journal

AT&T Inc. agreed to pay $13 million to settle an investigation by the US Federal Communications Commission into whether the telecommunications company failed to protect customer data that was stolen when a cloud vendor was hacked last year. The unnamed … Source: Claims Journal

Since the COVID-19 pandemic, insurance claims costs have risen dramatically. Many factors, including the global pandemic, climate change, inflation, and the increase in the price of repairs or replacement items, are driving the cost increase. While there is enormous pressure … Source: Claims Journal

Pop star Miley Cyrus copied fellow megastar Bruno Mars’ hit “When I Was Your Man” in her number-one single “Flowers,” according to a copyright lawsuit filed in California federal court. The complaint, filed on Monday by music-rights owner Tempo Music … Source: Claims Journal

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard … Source: Claims Journal

Parts of North Carolina saw something Monday that has not been seen in hundreds, or perhaps 1,000 years – 18 inches of rain in half a day. That’s “once in every 1,000 years!” the National Weather Service said on social … Source: Claims Journal

Sports-betting platform DraftKings Inc. has been using names and images of Major League Baseball players without permission and in violation of Pennsylvania law, their union alleged in a lawsuit. Boston-based DraftKings and another popular betting site – Bet365 – are … Source: Claims Journal

An Oregon judge has overturned a $260 million verdict against Johnson & Johnson in a lawsuit brought by a woman who said she got mesothelioma, a deadly cancer linked to asbestos exposure, from inhaling the company’s talc powder, the company … Source: Claims Journal

Younger small business owners seem to be less aware of the importance of workplace safety than older owners, showing an apparent gap between generations in how they approach keeping workers from harm. A survey from Pie Insurance conducted with more … Source: Claims Journal

A BNP Paribas SA manager faces allegations he ordered staff to cut female employees bonuses to boost the pay of male colleagues in London, according to fresh claims by a broker who previously won a landmark case against the French … Source: Claims Journal