Posts by Y@DminG

Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens … Source: Claims Journal

Snow and ice are disrupting transport and straining power grids, after the first major storms of the winter season hit northern Europe. Northern France is under a orange weather warning, after Storm Caetano left as much as 20 centimeters (8 … Source: Claims Journal

The topic of nuclear verdicts took center stage at this year’s Target Markets Annual Summit in Scottsdale, Arizona, where a panel of carriers and reinsurers discussed rising settlement costs amidst an uncertain litigation environment. Panelists representing Lloyd’s, Markel, MunichRe and … Source: Claims Journal

Cargo theft tends to pick up over the Thanksgiving period, an analysis warns. According to a supply chain analysis by CargoNet, 174 significant theft events typically take place during a six-day window from the Tuesday before Thanksgiving through the following … Source: Claims Journal

McKinsey & Co. is in the final stages of negotiating a deferred prosecution agreement to resolve a U.S. criminal investigation into the consulting firm’s work helping opioid manufacturers boost sales that allegedly contributed to a deadly addiction epidemic, people familiar … Source: Claims Journal

The parents of an 18-year-old who was killed in a hail of gunfire at Tuskegee University filed a wrongful death lawsuit this week, saying the school failed to provide adequate security measures that could have prevented the fatal shooting. Tamika … Source: Claims Journal

Highway safety officials in Colorado are seeing a slight decline in a number of dangerous driving practices, such as driving while intoxicated, failing to use seat belts and speeding. A poll by the Colorado Department of Transportation assessed the opinions … Source: Claims Journal

U.S. prosecutors unveiled criminal charges on Wednesday against five alleged members of Scattered Spider, a loose-knit community of hackers suspected of breaking into dozens of U.S. companies to steal confidential information and cryptocurrency. Martin Estrada, the U.S. Attorney in Los … Source: Claims Journal

A new study examining potential unintentional bias in auto insurance finds that while Black and Hispanic drivers pay more than other drivers for coverage, they also have more claims and driving infractions. The study’s authors accept that higher losses and … Source: Claims Journal

Allstate today said it estimated pretax catastrophe losses of $286 million for the month of October. Losses during October included $102 million, pretax, from Hurricane Milton as well as $144 million in unfavorable reserve reestimates from Hurricane Helene primarily from … Source: Claims Journal