Industry News
New vehicle sales in the U.S. are projected to have risen 6.7% in November from a year earlier, driven by higher discounts to clear elevated inventory, according to a joint report by industry consultants J.D. Power and GlobalData last week. …
Via: Claims Journal
Flood risk is rising across the Eastern and Southern states from extreme rainfall, hurricanes, and sea level rise, according to a new report by Moody’s Ratings. The increasing flooding hazard poses “significant credit challenges” that include rising property insurance rates, …
Via: Claims Journal
Cyberattacks cost U.K. businesses approximately £44 billion (US$55.3 billion) in lost revenue over the past five years, according to research published by Howden, the London-based insurance intermediary group. Half of those businesses (52%), or 1.3 million private sector companies, have …
Via: Claims Journal
A commercial general liability policy with a pollution exclusion does not protect a Virginia homeowners association from lawsuits filed by swimmers alleging they were injured by chemicals discharged into the community pool. That is the argument made by Philadelphia Indemnity …
Via: Claims Journal
The U.S. Supreme Court sought the federal government’s views in a billion-dollar copyright clash between the music industry and internet provider Cox Communications Inc. Entertainment companies including units of Sony Group Corp., Warner Music Group Corp. and Universal Music Group …
Via: Claims Journal
The 2024 Atlantic hurricane season ends Nov. 30 after 18 named storms including the earliest Category 5 storm on record, and possibly one of the costliest hurricanes to the insurance industry. Of the 18 named storms, 11 were hurricanes and …
Via: Claims Journal
Suspicious behavior on T-Mobile U.S. Inc.’s network devices tipped off the company to a breach that was potentially part of a sprawling cyber-espionage campaign that has raised urgent questions about the exposure of a critical sector of the economy. Jeff …
Via: Claims Journal