Industry News
A new analysis using data from the National Highway Traffic Safety Administration data on fatal crashes in states where drivers are most likely to be over the legal alcohol limit shows Connecticut and Texas with the highest percentages of drivers …
Via: Claims Journal
Billionaire Mike Ashley said he brought his lawsuit against Morgan Stanley because he was concerned with how “grotesquely and unfairly” the bank had acted during a margin call rather than the potential damages. The retail tycoon made the comments as …
Via: Claims Journal
The federal government announced that additional $100 million of Inflation Reduction Act funding will be allocated toward 21 high-risk landscapes the Agriculture Department has identified as priorities. The total will include $400 million in funds from the Inflation Reduction Act …
Via: Claims Journal
A gang member who ran a fire restoration company has been convicted of using violence, threats of violence, and extortion to terrorize and dominate the fire restoration industry in New York City. After presiding over a two-week bench trial in …
Via: Claims Journal
The Workers’ Compensation Insurance Rating Bureau plans to submit to the National Association of Insurance Commissioners (NAIC) insurer-specific California workers’ comp terrorism exposure data, including policy counts, payroll and terrorism premium information, by March 1. The data from the WCIRB, …
Via: Claims Journal
AccuWeather experts warn that the return La Niña and historically warm water across the Atlantic Ocean could contribute to a “super-charged” hurricane season in 2024. AccuWeather long-range forecasters say that the current El Niño pattern is expected to transition to …
Via: Claims Journal
Protection and Indemnity (P&I) clubs sought further price improvements at the February 2024 renewals in order to keep up with claims inflation, despite a relatively benign year for P&I claims in 2023, according to a report from AM Best. The …
Via: Claims Journal
When does a hallucinogenic drug become the direct cause of a catastrophic injury, triggering a homeowners’ policy exclusion? Not when a young man falls out of bed and is later moved by his comrades, potentially worsening a spinal injury, a …
Via: Claims Journal
Artificial intelligence experts and industry executives, including one of the technology’s trailblazers Yoshua Bengio, have signed an open letter calling for more regulation around the creation of deepfakes, citing potential risks to society. “Today, deepfakes often involve sexual imagery, fraud, …
Via: Claims Journal
Last year saw 141 days with large hail (2 inch or greater)—the highest number of days in 20 years, according to a new report by CoreLogic. The 2024 Severe Convective Storm Report details how severe thunderstorm risk is growing in …
Via: Claims Journal