Posts by Y@DminG

A commercial general liability policy with a pollution exclusion does not protect a Virginia homeowners association from lawsuits filed by swimmers alleging they were injured by chemicals discharged into the community pool. That is the argument made by Philadelphia Indemnity … Source: Claims Journal

Cyberattacks cost U.K. businesses approximately £44 billion (US$55.3 billion) in lost revenue over the past five years, according to research published by Howden, the London-based insurance intermediary group. Half of those businesses (52%), or 1.3 million private sector companies, have … Source: Claims Journal

Flood risk is rising across the Eastern and Southern states from extreme rainfall, hurricanes, and sea level rise, according to a new report by Moody’s Ratings. The increasing flooding hazard poses “significant credit challenges” that include rising property insurance rates, … Source: Claims Journal

New vehicle sales in the U.S. are projected to have risen 6.7% in November from a year earlier, driven by higher discounts to clear elevated inventory, according to a joint report by industry consultants J.D. Power and GlobalData last week. … Source: Claims Journal

Zoom Communications Inc. has offered $18 million to settle a four-year-old U.S. Securities and Exchange Commission probe related to its privacy policies and communications. In the most recent quarter, the company recorded an $18 million expense for a “tentative settlement … Source: Claims Journal

The U.S. Supreme Court sought the federal government’s views in a billion-dollar copyright clash between the music industry and internet provider Cox Communications Inc. Entertainment companies including units of Sony Group Corp., Warner Music Group Corp. and Universal Music Group … Source: Claims Journal

The 2024 Atlantic hurricane season ends Nov. 30 after 18 named storms including the earliest Category 5 storm on record, and possibly one of the costliest hurricanes to the insurance industry. Of the 18 named storms, 11 were hurricanes and … Source: Claims Journal

Suspicious behavior on T-Mobile U.S. Inc.’s network devices tipped off the company to a breach that was potentially part of a sprawling cyber-espionage campaign that has raised urgent questions about the exposure of a critical sector of the economy. Jeff … Source: Claims Journal

Nissan persuaded a federal appeals court to decertify 10 class actions accusing the Japanese automaker of selling cars and SUVs with defective automatic emergency braking systems that caused vehicles to stop suddenly for no reason. The 6th U.S. Circuit Court … Source: Claims Journal

While the insurance industry is quickly adopting AI technologies to improve the speed and accuracy of routine functions, analyze data and assess risk, malicious actors use the same tech to disrupt business and profit from cyberattacks. Recognizing the potential exposure … Source: Claims Journal