Posts by Y@DminG

Amazon.com Inc.’s reputation as a reliable provider of cloud services took a hit after an outage disrupted the operations of hundreds of companies, ranging from Apple to McDonald’s. Source: Claims Journal

The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying less on them and more on a niche bond market … Source: Claims Journal

The Vatican’s child protection board said the Catholic Church has a moral obligation to help victims of clergy sexual abuse heal. Financial reparations for the abused and tougher sanctions for the abusers and their enablers are essential remedies, it said. … Source: Claims Journal

State officials on the front lines of preparing for natural disasters and responding to emergencies say severe cuts to federal security grants, restrictions on money intended for readiness and funding delays tied to litigation are posing a growing risk to … Source: Claims Journal

BNP Paribas shares tumbled on Monday, after a U.S. jury found the French bank helped Sudan’s government commit genocide by providing banking services that violated American sanctions, raising questions about whether the lender will be exposed to further legal claims. … Source: Claims Journal

A cyber attack on Askul Corp. is disrupting e-commerce and logistics for major Japanese retailers including Muji owner Ryohin Keikaku Co. It’s the second such incident to unsettle the country’s consumer market in less than a month. Household goods seller … Source: Claims Journal

In 2022, Jake Clay started an Amazon delivery firm in Odessa, Texas, after hearing about the company-sponsored program from a friend. He sank $75,000 into the business and earned more than $200,000 in the first year. An Air Force veteran, … Source: Claims Journal

A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA). Northeast … Source: Claims Journal

The U.S. National Highway Traffic Safety Administration said on Monday it has opened a preliminary probe into about 2,000 Waymo self-driving vehicles after reports that the company’s robotaxis may have failed to follow traffic safety laws around stopped school buses. … Source: Claims Journal

Amazon’s cloud services unit AWS was struggling to recover on Monday from a widespread outage that knocked out thousands of websites along with some of the world’s most popular apps – Snapchat and Reddit – and disrupted businesses globally. The … Source: Claims Journal