Industry News
A Stellantis NV plant in Michigan will remain shut down for several weeks due to a shortage of key components, a sign of the growing fallout from a supplier’s aluminum factory fire last month. Production at the automaker’s Warren plant, …
Via: Claims Journal
Living in the northeast, ice dams are a part of life, and a common cause of loss in the insurance industry. However, they are often misunderstood, and effective remedies can be elusive. It’s essential for insurance and claims professionals who …
Via: Claims Journal
Thieves who staged a daring daylight heist at the Louvre museum in Paris made off with jewels worth an estimated 88 million euros ($102.63 million), Paris public prosecutor Laure Beccuau said on Tuesday. “It is important to remember that this …
Via: Claims Journal
Europe’s auto industry is preparing for production disruption within days because of China’s export restrictions on semiconductors made by Nexperia. Chip shortages are likely to hit key suppliers within a week, while the impact could spread across the entire sector …
Via: Claims Journal
Amazon.com Inc.'s reputation as a reliable provider of cloud services took a hit after an outage disrupted the operations of hundreds of companies, ranging from Apple to McDonald's.
Via: Claims Journal
The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying less on them and more on a niche bond market …
Via: Claims Journal
A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA). Northeast …
Via: Claims Journal
In 2022, Jake Clay started an Amazon delivery firm in Odessa, Texas, after hearing about the company-sponsored program from a friend. He sank $75,000 into the business and earned more than $200,000 in the first year. An Air Force veteran, …
Via: Claims Journal
A cyber attack on Askul Corp. is disrupting e-commerce and logistics for major Japanese retailers including Muji owner Ryohin Keikaku Co. It’s the second such incident to unsettle the country’s consumer market in less than a month. Household goods seller …
Via: Claims Journal
BNP Paribas shares tumbled on Monday, after a U.S. jury found the French bank helped Sudan’s government commit genocide by providing banking services that violated American sanctions, raising questions about whether the lender will be exposed to further legal claims. …
Via: Claims Journal