Industry News
At New Century Motorcycles in Alhambra, a handful of electric motorcycles are relegated to the back of the store, tucked behind the dirt bikes. The store sells one a month, at most, a salesperson said. Motorcyclists have long loved their …
Via: Claims Journal
Shipbuilder HII has settled claims against General Electric Co. that one of its units produced faulty propulsion gears for the USS Gerald R. Ford, the US’s costliest warship, that hobbled the vessel eight months after it was delivered, the companies …
Via: Claims Journal
JPMorgan Chase, the largest U.S. bank, has begun suing customers for check fraud, saying they improperly withdrew funds by taking illegal advantage of a temporary technical glitch that went viral on TikTok. The glitch in late August let customers deposit …
Via: Claims Journal
Taiwan will suspend trading on its $2.5 trillion stock exchange Thursday as a powerful typhoon barrels toward the archipelago. Super Typhoon Kong-Rey has intensified as it skirts the Philippines and tracks toward Taiwan, where it’s expected to make landfall on …
Via: Claims Journal
A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy. The Fourth Circuit …
Via: Claims Journal
McDonald’s was sued on Tuesday by consumers in a proposed class action stemming from the E.coli outbreak linked to onions in the fast-food chain’s Quarter Pounders. Amanda McCray of Chicago and William Michael Kraft of Davie, Florida, said they experienced …
Via: Claims Journal
North Carolina Gov. Roy Cooper approved more than $600 million worth of disaster relief funding Friday for western North Carolina counties affected by Hurricane Helene after legislators passed the recovery bill the day before. The bill is the second legislative …
Via: Claims Journal
Jeremy Ford hates wasting water. As a mist of rain sprinkled the fields around him in Homestead, Florida, Ford bemoaned how expensive it had been running a fossil fuel-powered irrigation system on his five-acre farm — and how bad it …
Via: Claims Journal
Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people rapid, direct cash payments. The nonprofit …
Via: Claims Journal
A new report from Gallagher Re found that cyber insurers could reduce loss ratios up to 16% by removing most-at-risk entities. Using independent analysis of cybersecurity performance data provided by Bitsight in combination with claims data, the study uses a …
Via: Claims Journal