Industry News
The Atlantic hurricane season continues to roll through its traditionally most active time of year without a storm, however there is a growing chance that may change soon. Two systems — one in the Caribbean and the other near Cabo …
Via: Claims Journal
Halliburton Co., the world’s largest provider of fracking services, said a recent cybersecurity attack that’s disrupted its business is unlikely to materially impact its finances or operations. The Houston-based company continues to evaluate the nature and scope of the breach …
Via: Claims Journal
Trust impacts customer satisfaction, loyalty and brand advocacy more than other factors when small businesses choose a commercial insurance provider, a new survey shows. A J.D. Power 2024 U.S. Small Commercial Insurance Study showed that among small businesses with the …
Via: Claims Journal
The Hawaii Supreme Court will be asked to weigh in on an issue that threatens to thwart a $4 billion settlement in last year’s devastating Maui wildfires. Judge Peter Cahill on Maui agreed to ask the state high court questions …
Via: Claims Journal
Hewlett Packard said it would continue legal proceedings to seek up to $4 billion in damages from British billionaire Mike Lynch’s estate in the UK. The U.S. company had been seeking compensation over its acquisition of British tech firm Autonomy …
Via: Claims Journal
Ransomware groups increased their activity significantly in the second quarter, new report from a Travelers subsidiary shows. The report from Corvus Insurance details attacks against 1,248 victims, a 16% increase from the previous quarter. The company’s Q2 2024 Cyber Threat …
Via: Claims Journal
California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guidewire’s HazardHub data …
Via: Claims Journal
Product recalls in the U.S. decreased across the automotive, consumer product, food and drink, medical device and pharmaceutical industries in the second quarter, a new report shows. A report from Sedgwick shows the 788 recalls across those industries represent a …
Via: Claims Journal
As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who specialize in PFAS say insurers are mandating coverage exclusions and, in some cases, declining to write liability policies at all …
Via: Claims Journal
Main Street America Insurance said Thursday it will stop offering personal lines insurance in favor of a commercial lines strategy. The Jacksonville, Florida-based insurer founded about 100 years ago in Keene, New Hampshire said it is “tightening” its focus and …
Via: Claims Journal