Posts by Y@DminG

U.S. severe convective storms continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, SCS accounted for a minimum $37 billion – or 61% … Source: Claims Journal

Pinnacle Actuarial Resources Inc. added Sara Chen, Nathan Dykstra and Juhyun Shin as consulting actuaries. Chen was most recently as an actuarial senior consultant for Nationwide. She has worked in the industry since 2017 and is located in Des Moines, … Source: Claims Journal

Boeing-owned Wisk Aero expects its pilotless air-taxi to begin carrying passengers “later in the decade” as it works with the U.S. regulator to secure approvals, its CEO said on Monday, amid skepticism among industry analysts about certification timelines. Wisk is … Source: Claims Journal

A nationwide AT&T wireless outage in February that lasted over 12 hours blocked more than 92 million voice calls and prevented more than 25,000 attempts to reach 911, according to report released Monday and first reported by Reuters. The U.S. … Source: Claims Journal

Four insurance companies, unable to escape a duty to defend a New York hotel where a young woman was secretly videotaped in the shower in 2015, have reached a settlement in the case that made headlines around the world. Citizens … Source: Claims Journal

Delta Air Lines canceled more than 600 flights on Monday, as the U.S. air carrier continued to struggle to restore operations after last week’s global cyber outage, even as other airlines were recovering from the incident. About 16% of Delta’s … Source: Claims Journal

A half-dozen Maui wildfire victims sued a group of insurers, including State Farm and Allstate, accusing them of throwing a wrench into a tentative $4 billion deal to settle their claims. The lawsuit filed Friday in state court in Maui … Source: Claims Journal

Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems … Source: Claims Journal

Recently, a local television newscast ran a short report on the current high price of auto insurance. After recording one or two predictable complaints from the general public, the reporter ascribed the high prices to the high cost of “labor … Source: Claims Journal

Elements of Friday’s global IT outage, which grounded planes and hit services from banking to healthcare, have occurred before and until more contingencies are built into networks, and organizations put better back-up plans in place, it will happen again. Friday’s … Source: Claims Journal