Archive for January 2020

The explosion ruptured the dusk settling over the desert in Surprise, Arizona. For hours, smoke had poured from a metal shed packed with lithium-ion batteries at a small electric substation. The batteries were tied to the electric grid, and somehow … Source: Claims Journal

If it turns out that Saudi Arabia hacked into the phone of Amazon.com Chief Executive Officer Jeff Bezos, as investigators have alleged, the oil rich nation likely utilized its preferred method of cyber espionage: outsourcing. While countries like Russia, China … Source: Claims Journal

State Auto Property and Casualty Insurance Co. is liable for the cost of replacing a computer server that was damaged and perhaps permanently compromised by a ransomware attack despite the carrier’s argument that the business owner did not suffer a … Source: Claims Journal

HONOLULU — Hawaii lawmakers have proposed initiatives to help reduce the number of traffic-related fatalities after transportation officials confirmed more than 100 deaths in the last year. Those initiatives include installing traffic cameras to capture drivers running red lights and … Source: Claims Journal

HOUSTON — A massive explosion Friday leveled a warehouse in Houston, killing two workers, damaging nearby buildings and homes and rousing frightened residents from their sleep miles away, authorities said. The explosion happened about 4:30 a.m. inside a building at … Source: Claims Journal

McKesson Corp.’s board reached a $175 million settlement with investors who claimed directors failed to maintain adequate internal systems for spotting suspicious opioid shipments, as the U.S.’s largest drug distributor continues to grapple with claims it helped fuel a public-health … Source: Claims Journal

Travelers Companies Inc has set aside a “modest” amount of additional money to cover its possible exposure to child sex-abuse claims, the insurer’s finance chief, Daniel Frey, told analysts during an earnings call on Thursday. Two analysts asked about Travelers’ … Source: Claims Journal

A satellite operated by AT&T Inc.’s DirecTV unit is in danger of exploding and needs to be moved away from an orbital zone occupied by other big communications satellites. There’s “a significant risk” that battery cells aboard Spaceway-1 could burst, … Source: Claims Journal

Attorneys general from nine states urged a federal judge to toss out Google’s $13 million settlement of a class-action lawsuit blaming its Street View mapping technology for a massive violation of consumer privacy. The proposed accord in a debacle that … Source: Claims Journal

Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout after a qualifying event and protect against unpredictable but … Source: Claims Journal