Posts by Y@DminG

Federal investigators determining why a Florida condominium tower partially collapsed three years ago, killing 98 people, said Thursday there were many faulty support columns in the tenant garage that ran below it and the adjoining pool deck. National Institute of … Source: Claims Journal

Meta Platforms Inc. sued one of its former vice presidents for what it called a “stunning” betrayal in his defection to a “stealth” AI cloud computing startup. Dipinder Singh Khurana, also known as T.S. Khurana, had worked at Meta for … Source: Claims Journal

Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Company and Arch … Source: Claims Journal

AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the year. Additional downgrades of 15 commercial insurers … Source: Claims Journal

Nvidia, whose chips power artificial intelligence, has been sued by three authors who said it used their copyrighted books without permission to train its NeMo AI platform. Brian Keene, Abdi Nazemian and Stewart O’Nan said their works were part of … Source: Claims Journal

The Federal Emergency Management Agency in an effort to engage reinsurance markets to bolster the financial framework of the National Flood Insurance Program and promote private sector participation in flood-risk management has again obtained reinsurance coverage through insurance-linked securities reinsurance. … Source: Claims Journal

The Fifth Circuit added to the emerging body of case law addressing the recovery of business income losses in the cyber insurance coverage context to kick-start 2024 in Southwest Airlines Company v. Liberty Insurance. In a case of first impression … Source: Claims Journal

Continued rate increases, along with improved combined ratios, and now opens a window for insurers to capitalize on continued shopping as they seek a return to profitability in 2024. That’s according to the LexisNexis Insurance Demand Meter, a “Hot” Q4 … Source: Claims Journal

Louisiana Insurance Commissioner Tim Temple expects lawmakers to allocate at least $20 million to the Lousiana Fortify Homes Program during the legislative session that begins on Monday. The funds would applied to the program for use in the next fiscal … Source: Claims Journal

Xcel Energy Inc. will likely be wrangling for years with the legal fallout from the wildfires burning through the Texas Panhandle. The experience of utility companies in California and Oregon sued over massive blazes sparked by downed power lines shows … Source: Claims Journal