Posts by Y@DminG

Insurers are turning to catastrophe bonds to pass on historic levels of wildfire risk to the capital markets. Issuance of cat bonds that include exposure to wildfires has already soared to more than $5 billion so far this year, according … Source: Claims Journal

Farmers Insurance filed an upgraded business insurance rating plan to expand commercial insurance coverage for business owners across the state and a rate hike of 15%. The plan, which incorporates elements from the Sustainable Insurance Strategy, includes coverage in in … Source: Claims Journal

A group of Democratic senators urged the Commodity Futures Trading Commission to rein in prediction market trading on wildfires, expressing concern that individuals could be tempted to commit arson to make their bets pay off. “As the United States faces … Source: Claims Journal

Amgen Inc. experienced a cyber incident that involved the theft of patient information and proprietary data stored in cloud servers, it said in a filing Friday, the latest large healthcare company to suffer a data breach. The drugmaker is still … Source: Claims Journal

Michigan health authorities were in touch with Taco Bell’s parent company, Yum! Brands Inc., about a parasitic outbreak in early July, weeks before the company officially alerted consumers. The Michigan Department of Health and Human Services held a call with … Source: Claims Journal

Hackers have found a software flaw in a brand of “cold” Bitcoin wallet — considered one of the safest places to store cryptocurrency — and are siphoning tens of millions of dollars in an ongoing attack. Late last week, Canada-based … Source: Claims Journal

Executives are questioning the value of an MBA in the AI-era. Some 86% of the more than 1,000 U.S. financial services executives surveyed by consulting firm PricewaterhouseCoopers LLP say they think AI training is more valuable than an MBA for … Source: Claims Journal

Hundreds of structures have been destroyed and tens of thousands of people have been evacuated, as wildfires rip through eastern Washington state in what Spokane Mayor Lisa Brown called “the worst natural disaster our region has faced.” As of about … Source: Claims Journal

Trucking and logistics stocks are poised for their worst month in more than a year, weighed down by mounting concerns over a recent legal decision that can hurt industry brokers, alongside disappointing earnings. A gauge for the group — the … Source: Claims Journal

Alphabet-owned cybersecurity company Wiz said on Thursday it had found a sweeping flaw that could have compromised Microsoft and thousands of its cloud customers. Wiz said in a post on its website that a now-patched vulnerability in a key Microsoft … Source: Claims Journal