Posts by Y@DminG

A federal court on Wednesday rejected two separate petitions to consolidate lawsuits filed by policyholders against insurers that denied COVID-19 business-interruption claims under a single judge, but said it might approve consolidation of other actions that make similar claims against … Source: Claims Journal

A federal judge in Missouri said on Wednesday a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they say caused a “direct physical loss” to their premises. … Source: Claims Journal

Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of two-thirds of its revenues in the first quarter alone due to the pandemic. Ralph Lauren Corp. (RLC) maintains that Factory … Source: Claims Journal

BALTIMORE — A natural gas explosion destroyed three row houses in Baltimore on Monday morning, killing a woman and trapping other people in the debris. At least seven people were seriously injured, and firefighters were searching for more survivors. Dozens … Source: Claims Journal

IOWA CITY, Iowa — A rare storm packing 100 mph winds and with power similar to an inland hurricane swept across the Midwest, blowing over trees, flipping vehicles, causing widespread property damage and leaving hundreds of thousands without power as … Source: Claims Journal

The operator of a Japanese bulk carrier which ran aground off Mauritius in the Indian Ocean apologized on Sunday for a major oil spill which officials and environmentalists say is creating an ecological disaster. The MV Wakashio, operated by Mitsui … Source: Claims Journal

WASHINGTON — The Transportation Department’s Office of Inspector General said on Tuesday it would audit oversight of U.S. vehicle safety standards, noting that more than 36,000 Americans were killed in traffic accidents in 2019. The inspector general’s office said it … Source: Claims Journal

Duck Creek Technologies Inc, a software company that serves the property and casualty (P&C) insurance market, on Wednesday raised the price range for its initial public offering (IPO) and expects to raise about $375 million. Boston-based Duck Creek, which is … Source: Claims Journal

The coronavirus pandemic dealt a relatively modest $2.5 billion blow to five insurers with large U.S. operations in the second quarter — a cost that was far less than feared and which the industry has absorbed without touching capital, analysts … Source: Claims Journal

A well-known workers’ comp number cruncher and an actuary are calling Chicken Little on insurance industry warnings about the cost of COVID-19 claims. Health Strategy Associates owner Joe Paduda and Bickmore Actuarial principal Mark Priven dispute assertions by Moody’s, the … Source: Claims Journal