Posts by Y@DminG

Investors in a catastrophe bond targeting Mexico are betting they’ll be spared losses as Hurricane Polo looks set to avoid landfall as a dangerously destructive storm. “I’d never say never,” said Florian Steiger, chief executive of Zurich-based cat-bond manager Icosa … Source: Claims Journal

Electric utility Southern California Edison is urging California lawmakers to hold a special session before year-end to consider limiting utilities’ exposure to future wildfire liabilities, CEO of parent company Edison International EIX.N Pedro Pizarro said this week. Electric utility infrastructure … Source: Claims Journal

Legal filings against residential rental properties in New York City grew substantially between 2021 and 2023 and then remained constant at that elevated level, according to research from Milford Street Captive Insurance. The analysis conducted by LegalClaimsAI and the NYU … Source: Claims Journal

Companies must prepare for successful attacks on critical power infrastructure as both physical and cyber threats continue to increase, the CEO of E.ON, Europe’s largest operator of energy grids, said on Thursday. “Attacks on our grids are increasing significantly,” Leonhard … Source: Claims Journal

Early this year, Insurify caused a stir when it began what was thought to be the first insurance app with ChatGPT’s Open AI. In fact, the news momentarily shook the S&P 500 Insurance index. On Sept. 23, the online insurance … Source: Claims Journal

After years of broadly unsuccessful efforts to wean drivers off combustion engines, sales of electric vehicles are surging in Europe thanks to the jump in fuel prices stoked by geopolitical upheaval. Registrations of fully-electric cars soared 52% across the region … Source: Claims Journal

A hurricane watch has been issued for Hawaii’s Big Island as Tropical Storm Nolo strengthens south of the island chain. Nolo, with top winds of 40 miles (64 kilometers) per hour was 500 miles south of Honolulu and on a … Source: Claims Journal

Electric vehicle maker Rivian Automotive said on Wednesday it is recalling about 100,700 vehicles, representing a majority of its vehicles produced to date, over a software issue that can obstruct the rearview camera display. Related: NHTSA Closes Rear-View Camera Probe … Source: Claims Journal

Apollo Global Management Inc. Chief Executive Officer Marc Rowan blasted insurance regulators in Delaware for their handling of Mark Walter’s insurance companies, which are now the subject of a federal probe. Rowan singled out the Delaware Department of Insurance for … Source: Claims Journal

The Federal Bureau of Investigation is probing hackers’ claims that they broke into the agency’s systems and stole thousands of current and former employees’ data, the bureau said in a statement Wednesday. The FBI on Wednesday acknowledged the hackers’ claims … Source: Claims Journal