Industry News
A powerful patch of thunderstorms and wind is expected to strengthen into Tropical Storm Lala by Thursday before taking aim Hawaii this weekend. The weather system was 935 miles (1,500 kilometers) east-southeast of Hilo, Hawaii, with top winds of 35 …
Via: Claims Journal
UnitedHealth Group Inc. board members ignored a raft of governance and oversight risks for years before catastrophic failures triggered billions in losses for investors, a shareholder lawsuit alleges. An amended complaint filed Aug. 7 in a Minnesota federal court reveals …
Via: Claims Journal
In today’s wildland–urban interface (WUI) losses, the question is often more complex than simply “burned versus not burned.” An increasing number of claims involve non-thermal impacts, including smoke infiltration and the deposition of combustion byproducts in structures that remain standing. …
Via: Claims Journal
American International Group Inc. CEO Eric Andersen said that while the artificial intelligence buildout presents a “great opportunity” for the insurance industry, it’s also pushing property and casualty providers to their limits. AI data centers “need everything from project finance …
Via: Claims Journal
The peak of tornado season may be behind us, but the eastward expansion of what has been traditionally known as tornado alley into more populated areas may continue raising awareness of the growing insurance risk long for some time. Record …
Via: Claims Journal
One farm worker died from heat exposure in 2020, resulting in a fine and citation from the U.S. Occupational Safety and Health Administration. Two years later, the employer failed to follow its remedial safety guidelines for heat exposure, failed to …
Via: Claims Journal
Nearly 30,000 pounds of Argentine beef that wasn’t fully inspected before being distributed in Texas and Florida are being recalled, the US Department of Agriculture said. The USDA’s Food Safety and Inspection Service announced that Florida-based Corte Argentino LLC was …
Via: Claims Journal
Flight-tracking service FlightAware is suing prediction markets giant Kalshi accusing the company of using its data and name to run “gambling markets on flight cancellations” without permission. In July, Kalshi announced markets allowing customers to bet on flight-cancellation risk. The …
Via: Claims Journal
Meta Platforms will face a coalition of state attorneys general in a California federal court trial beginning on Wednesday over claims it engineered Facebook and Instagram to be addictive to children, a case that could expose the company to massive …
Via: Claims Journal
Toyota is recalling 508,354 vehicles in the U.S. as an instrument cluster that fails to display critical safety information increases the risk of a crash or injury, the National Highway Traffic Safety Administration said on Tuesday. Related: Why Toyota RAV4s …
Via: Claims Journal