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Moody’s Ratings said in a report on Thursday that it expects the Los Angeles wildfires to increase property insurance costs across California. According to Moody’s, the state’s already noticeable insurance pricing and availability challenges are likely to intensify, with negative … Source: Claims Journal

A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A federal … Source: Claims Journal

California Insurance Commissioner Ricardo Lara is asking all California insurance companies to provide advance payments on claims for Los Angeles wildfire survivors. Lara’s order is designed to help speed the recovery process for wildfire survivors affected by several fires in … Source: Claims Journal

The National Highway Traffic Safety Administration said on Wednesday that General Motors is recalling about 2,890 Chevrolet Equinox EV vehicles due to concerns about their adaptive cruise control. The recall affects certain 2025 Chevrolet Equinox EV all-wheel drive electric vehicles. … Source: Claims Journal

Bankrupt Purdue Pharma LP and members of the billionaire Sackler family agreed to pay $7.4 billion to a group of U.S. states and other parties to settle long-running litigation over OxyContin’s role in the deadly opioid epidemic. The deal comes … Source: Claims Journal

Last year saw record-breaking cargo theft activity across the United States and Canada, with 3,625 reported incidents representing a 27% increase from 2023, according to global data analytics and technology provider CargoNet, a Verisk company. The estimated average value per … Source: Claims Journal

Losses from the Palisades and Eaton fires near Los Angeles will be close to $28 billion, catastrophe modeler KCC reported on Thursday. KCC estimates that the insured loss from privately insured and FAIR plan policies to residential, commercial and industrial … Source: Claims Journal

Two new wildfires that erupted in Southern California are spreading quickly over dry hillsides and forcing evacuations, stoking new fears in a region that’s been devastated by recent deadly blazes. The Hughes Fire, which began Wednesday and grew within hours … Source: Claims Journal

Microsoft’s LinkedIn has been sued by Premium customers who said the business-focused social media platform disclosed their private messages to third parties without permission to train generative artificial intelligence models. According to a proposed class action filed on Tuesday night … Source: Claims Journal

More than 31 million housing units in the U.S. will experience more than 30 days of winter temperatures below 32ºF this year, and 10.3 million of those will experience more than 50 days of below-freezing temperatures this winter, according to … Source: Claims Journal