Posts by Y@DminG

War risk insurance premiums for shipments through the Red Sea are rising after further attacks on merchant vessels by Yemen’s Houthi movement and the expectation that ships with a UK or U.S. connection will be targeted, insurance sources said on … Source: Claims Journal

Fitch Ratings said it expects the U.S. property/casualty insurance industry to generate modest underwriting improvement in 2024, following poor auto insurance results and inordinate catastrophe losses in 2023. Persistently high inflation and slowing economic growth, along with an expectation for … Source: Claims Journal

Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private reinsurance costs. But a trade group for carriers suggested that a federal remedy could create more problems. “Federal solutions to … Source: Claims Journal

Morgan Stanley is close to an agreement to pay $200 million to $300 million to resolve a yearslong US investigation into its employees’ handling of stock sales big enough to move markets, a probe that rattled major clients and reverberated … Source: Claims Journal

Hawaii lawmakers are due to convene this week for the first time since the burning of historic Lahaina awakened the state to the deadly and costly threat posed by wildfires in an age of climate change. The tragedy refocused the … Source: Claims Journal

Stakeholders have continued to react to a recent Florida Office of Insurance Regulation report on the property insurance market, a report that underscored the impact that excessive claims litigation had on insurers but which also noted that some key data … Source: Claims Journal

Uniqlo, part of Fast Retailing Co., sued Shein in Japan, accusing the Chinese retailer of copying its popular Round Mini Shoulder bag. The entities that operate the Shein brand must immediately cease sales of “imitation products” and compensate for damages, … Source: Claims Journal

Online retailer eBay Inc. will pay a $3 million fine to resolve criminal charges over a harassment campaign waged by employees who sent live spiders, cockroaches and other disturbing items to the home of a Massachusetts couple, according to court … Source: Claims Journal

Boeing Co. was sued by passengers on an Alaska Airlines Inc. flight that was forced to make an emergency landing in Portland, Oregon, last week after a mid-air blowout of a so-called door plug on the 737 Max 9 jet. … Source: Claims Journal

A consumer advocacy group filed a lawsuit against Starbucks on Wednesday, saying the company’s claim that its coffee is ethically sourced is false and misleading. The National Consumers League cited media reports of abuses on farms that supply coffee and … Source: Claims Journal