Posts by Y@DminG

While 2024 brought record-breaking data-breach costs and evolving cyber risk, all signs point to stable rates and ample capacity in 2025. Intense competition among cyber insurance carriers has resulted in higher limits, enhanced cyber risk management services, flexibility in insurance … Source: Claims Journal

American Express Co. will pay about $230 million to resolve a long-running investigation into some of the firm’s prior sales practices which regulators said misled small-business owners. Amex reached agreements with federal prosecutors and the Federal Reserve to settle the … Source: Claims Journal

Increases in average medical payments and average indemnity payments drove public self-insureds’ total paid losses up last year even though the number of claims fell, a new report shows. The California Workers’ Compensation Institute reviewed the initial report on fiscal … Source: Claims Journal

The Eaton Fire in central Los Angeles County poses a potential credit risk to power provider Southern California Edison, which operates electrical lines in the area where the destructive blaze first started, Moody’s Ratings said in a report on Thursday. … Source: Claims Journal

While the Southern California fires that sparked in high-wind conditions last week inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said in a Thursday briefing that the industry price tag of the Palisades and Eaton … Source: Claims Journal

Government inspectors documented unsanitary conditions at several Boar’s Head deli meat plants, not just the factory that was shut down last year after a deadly outbreak of listeria poisoning, federal records show. Newly released reports from Boar’s Head plants in … Source: Claims Journal

Toyota Motor unit Hino Motors has agreed a $1.6 billion settlement with U.S. agencies and will plead guilty over excess diesel engine emissions in more than 105,000 U.S. vehicles, the company and U.S. government said on Wednesday. The Japanese truck … Source: Claims Journal

The dry, dangerous winds that have kept fire-scarred Los Angeles on edge for days are finally forecast to end — but a lack of rain and another round of winds forecast next week has officials worried. “Things are starting to … Source: Claims Journal

A judge has dismissed New York City’s lawsuit seeking to hold Exxon Mobil, BP and Shell. liable for misleading the public about their products, and their commitment to renewable energy and fighting climate change. In a decision on Tuesday, state … Source: Claims Journal

The rap artist Drake has sued Universal Music Group NV for defamation in U.S. federal court, accusing the company of putting his life in danger by releasing and promoting a song by his rival and labelmate Kendrick Lamar. In a … Source: Claims Journal