Industry News
Insurance companies lost a bid to hold Edison International’s Southern California utility liable for a massive Los Angeles-area wildfire without a trial. Superior Court Judge Laura Seigle on Tuesday tentatively denied a request to put Southern California Edison on the …
Via: Claims Journal
General Motors Co. has set a plan to guarantee the supply of as much as $4.5 billion in critical auto parts to safeguard the company from supply shocks caused by such events as extreme weather, natural disasters and cyberattacks. The …
Via: Claims Journal
The insurance industry is implementing AI in all areas, from underwriting to claims, from catastrophe modeling to itemization of contents. When AI takes on some or all parts of a process where does that leave underwriters, call centers – and …
Via: Claims Journal
Record-breaking temperatures are battering a continent that's less equipped to deal with the shock than other parts of the world.
Via: Claims Journal
The U.S. Midwest and Ohio Valley, including Chicago and Cincinnati, face an enhanced, or level 3, risk of severe thunderstorms. That’s triggered numerous flood warnings and watches from Indiana into western Pennsylvania and Virginia, the National Weather Service said. As …
Via: Claims Journal
The U.S. just sweltered through the warmest month ever recorded. The average temperature for the U.S. mainland reached 76.9F (24.9C) in July, the National Oceanic and Atmospheric Administration said on Monday. The US government has been tracking temperatures for 132 …
Via: Claims Journal
President Donald Trump won court permission to revise his $10 billion defamation lawsuit against the British Broadcasting Corp. by excluding his earlier claim that a 12-second clip in a documentary caused massive financial damage to his business. The ruling by …
Via: Claims Journal
Gallagher Bassett named Varun Jain to the newly created position of executive vice president – enterprise performance and product leadership. Jain will drive execution across three areas: enterprise product leadership, global account management and strategic initiatives implementation. He joined Gallagher …
Via: Claims Journal
The reinsurance industry’s robust earnings and abundant capital, evident since 2023, have led to increasing competition and a softening market. “The key question is whether reinsurers can maintain underwriting discipline or will irrational competition emerge, leading to another traditional soft …
Via: Claims Journal
Taylor Farms is recalling prepared foods containing jalapenos from retailers including Walmart and Whole Foods in several states over potential salmonella contamination, the second major foodborne illness linked to the produce supplier in recent weeks. The recall adds another layer …
Via: Claims Journal