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BoatUS Estimates Hurricane Matthew Damage to Recreational Boats at $110M

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Hurricane Matthew, which threatened four coastal states as it corkscrewed through the Atlantic in early October, caused an estimated $110 million in damage to recreational boats, according to Boat Owners Association of The United States (BoatUS). The national advocacy, services … Source: Claims Journal

Oakland Warehouse Fire Death Toll Grows to 36 as Investigators Search for Answers

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The death toll in the Oakland, Calif., warehouse fire has grown to 36 and authorities say they expect the number to rise when they resume work later Monday following a temporary work stoppage. A wall is leaning inward, posing a … Source: Claims Journal

FM Global: Next Generation Fire Sprinklers Aimed at Curbing Warehouse Fires

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Warehouses, served by increasingly powerful automated materials-handling equipment, are steadily getting taller, posing new fire risks and stressing traditional fire protection systems like heat-triggered ceiling sprinklers. FM Global, a global commercial property insurer, has pioneered research on next-generation sprinklers that, … Source: Claims Journal

Study Finds Extreme Tornado Outbreaks Spawning Greater Number of Twisters

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The most extreme tornado outbreaks are mysteriously spawning many more twisters than they did decades ago, a new study claimed. The once-every-five-years-or-so outbreak that might have involved 12 tornadoes 50 years ago now has on average about 20, said Columbia … Source: Claims Journal

Business News: CLARA Analytics, IICF, Lemonade

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CLARA Analytics Launches PUMA Search Engine to Help Insurance Carriers Reduce Workers’ Compensation Costs CLARA analytics, a division of LeanTaaS, a Silicon Valley healthcare SaaS provider, announced the commercial availability of PUMA, a search engine that helps insurance carriers and … Source: Claims Journal

No CGL Coverage for Building Contractor’s Shoddy Workmanship Causing Damage to the Work Itself

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In a decision filed November 18, 2016, Arkansas U. S. district judge Susan Webber Wright, the same jurist who in 1998 handed a defeat to Paula Jones in her sexual harassment lawsuit against then President Bill Clinton, dealt this time … Source: Claims Journal

Liberty Mutual Set to Buy Fosun’s Ironshore for $3B

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Liberty Mutual Holding Co., the fourth-largest property/casualty insurer in the U.S., agreed to buy Ironshore Inc. from Fosun International Ltd. for about $3 billion to expand in the specialty commercial market. Ironshore will retain its management and brand after the … Source: Claims Journal

J&J to Pay Record $1B for Faulty Hip Implants

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Johnson & Johnson was ordered by a Texas jury to pay more than $1 billion to patients who claimed the company hid flaws in its Pinnacle artificial hips that had to be surgically removed, in J&J’s second loss linked to … Source: Claims Journal

Word of Mouth, Desire for More Money Leads Injured Auto Crash Claimants to Hire Attorneys

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In a recent online poll about experiences with auto injury insurance claims, almost half of respondents with auto injury claims hired attorneys to help settle those claims, according to a survey commissioned by the Insurance Research Council. The most common … Source: Claims Journal

Super Regional P/C Insurer Conference 2017 Announced for C-Suite Carrier Professionals

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Insurance Journal and Demotech, Inc. announced that the inaugural Super Regional P/C Insurer Conference will be held July 16-18 2017 at the Grand Geneva Resort & Spa in Lake, Geneva, Wis. The theme of the event is “Finding Your True … Source: Claims Journal