Posts by Y@DminG

Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning. Hawaiian Electric said last week that it had agreed to pay … Source: Claims Journal

The number of workers’ compensation claims for student-on-school-employee assault dropped significantly during the 2023-24 school year, according to data from Gallagher Basset. This change comes after two years of increasing claims following the 2020-21 school year. Citing client numbers covering … Source: Claims Journal

U.S. auto safety regulators said on Friday that it was opening a preliminary evaluation into approximately 332,288 Hyundai SUVs in the United States over a potentially faulty seat belt. The investigation focuses on certain Hyundai Palisade SUVs from model years … Source: Claims Journal

Car insurance premiums have gone up by 15% since the beginning of the year, and they are projected to be up 22% by the end of the year, a new report shows. The annual average full-coverage car premium price is … Source: Claims Journal

Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be canceled, though several providers will share out the hit, two people involved in insurance for her tour told Reuters. The … Source: Claims Journal

The total damage and economic loss from Hurricane Debby in the U.S. is expected to be $28 billion, according to a preliminary estimate from AccuWeather. The estimate is preliminary because the storm effects continue to be felt and some areas … Source: Claims Journal

The National Oceanic and Atmospheric Administration, which has already forecast an extremely active hurricane season, is now saying it could rank among the busiest on record. In a mid-season hurricane outlook update, NOAA’s Climate Prediction Center forecasters updated the number … Source: Claims Journal

An earthquake off the coast of Japan’s southern island of Kyushu prompted the government to issue its first-ever warning for a megaquake from an undersea trough running along a swath of the country’s coast. Prime Minister Fumio Kishida called off … Source: Claims Journal

Anti-theft software upgrades provided for Hyundai and Kia vehicles regularly targeted by thieves has cut theft rates by more than half, according to new research from the Highway Loss Data Institute. Theft rates of the affected automobiles soared after thieves … Source: Claims Journal

Insurers and reinsurers’ losses from Hurricane Debby are expected to be in the low single-digit billions of dollars, a figure that would be “very manageable” for the industry, according to a report from Gallagher Re. Wind and water-related losses could … Source: Claims Journal