Archive for February 2022

Monterra Energy said on Tuesday it plans to pursue legal action against Mexico and seek damages of about $667 million for the “unlawful” closure of its Tuxpan fuel imports terminal in the Mexican state of Veracruz for five months. The … Source: Claims Journal

A claims adjuster’s sub-standard investigation of a potential fatal accident claim does not warrant a multi-million award of damages against an insurer that issued a policy with a $25,000 limit, the Kansas Court of Appeals ruled. An appellate panel on … Source: Claims Journal

HANFORD, Calif. — On May 13 of last year, the cellphones of thousands of California residents undergoing treatment for chronic pain lit up with a terse text message: “Due to unforeseen circumstances, Lags Medical Centers will be closing effective May … Source: Claims Journal

LONDON (AP) — Northern Europe was battered by the third major storm in five days, with heavy rains and high winds on Sunday and Monday killing at least two more people, disrupting travel and prompting hundreds of flood alerts across … Source: Claims Journal

FORT WORTH, Texas — Inside a partially completed Amazon warehouse here, workers last summer walked on conveyor belts four stories high without safety harnesses, welders used plasma torches while surrounded by flammable cardboard boxes, and laborers raised metal racks alongside … Source: Claims Journal

ATHENS, Greece (AP) — Greek emergency workers rescued a Belarussian truck driver Sunday from a burning ferry off the island of Corfu and found the body of a Greek truck driver as they combed the wreckage for missing passengers. The … Source: Claims Journal

The cargo ship carrying about 4,000 Volkswagen AG vehicles that caught fire last week could cost the automaker at least $155 million, according to a risk-modeling company’s estimate. Of the roughly $438 million total value of goods aboard the Felicity … Source: Claims Journal

BOSTON (AP) — Massachusetts General Hospital will pay $14.6 million to settle a lawsuit that alleged overbilling for double-booked surgeries that were simultaneously overseen by the same surgeon. It’s the third time since 2019 that the Harvard-affiliated teaching hospital agreed … Source: Claims Journal

The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial auto claims over … Source: Claims Journal

Simply stated, insurance policy deductibles or retentions are a dollar threshold that must be satisfied before an insurer will pay any defense or indemnity costs on a claim.[1] Many insureds seek to contain their insurance premium costs by purchasing policies … Source: Claims Journal