Industry News
California Insurance Commissioner Ricardo Lara is asking all California insurance companies to provide advance payments on claims for Los Angeles wildfire survivors. Lara’s order is designed to help speed the recovery process for wildfire survivors affected by several fires in …
Via: Claims Journal
A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A federal …
Via: Claims Journal
Moody’s Ratings said in a report on Thursday that it expects the Los Angeles wildfires to increase property insurance costs across California. According to Moody’s, the state’s already noticeable insurance pricing and availability challenges are likely to intensify, with negative …
Via: Claims Journal
Last year saw record-breaking cargo theft activity across the United States and Canada, with 3,625 reported incidents representing a 27% increase from 2023, according to global data analytics and technology provider CargoNet, a Verisk company. The estimated average value per …
Via: Claims Journal
Losses from the Palisades and Eaton fires near Los Angeles will be close to $28 billion, catastrophe modeler KCC reported on Thursday. KCC estimates that the insured loss from privately insured and FAIR plan policies to residential, commercial and industrial …
Via: Claims Journal
Two new wildfires that erupted in Southern California are spreading quickly over dry hillsides and forcing evacuations, stoking new fears in a region that’s been devastated by recent deadly blazes. The Hughes Fire, which began Wednesday and grew within hours …
Via: Claims Journal
Rupert Murdoch’s U.K. newspaper group apologized to Prince Harry over allegations journalists at its tabloid newspapers used unlawful information gathering, as it settled a long-running lawsuit that threatened to dredge up decades-old accusations of wrongdoing. News Group Newspapers Ltd. will …
Via: Claims Journal
New estimates peg insured losses to property from the Palisades and Eaton fires in Los Angels together will fall between $28 billion and $35 billion, which includes losses to the California FAIR Plan. The estimates out on Wednesday from the …
Via: Claims Journal
New York Attorney General Letitia James said on Wednesday her office obtained a $1.065 billion judgment against Yellowstone Capital, a cash advance provider accused of predatory lending, as part of a settlement that gives small businesses more than a half-billion …
Via: Claims Journal
More than 31 million housing units in the U.S. will experience more than 30 days of winter temperatures below 32ºF this year, and 10.3 million of those will experience more than 50 days of below-freezing temperatures this winter, according to …
Via: Claims Journal