Posts by Y@DminG

Natural disasters, many driven by climate change, caused global economic losses of $313 billion in 2022, insurance broker Aon estimated on Wednesday, of which less than half was insured. Losses from natural catastrophes covered by the insurance sector amounted to … Source: Claims Journal

When it comes to climate impacts, the frontline of the finance industry is insurance. Last year’s payout from damages caused by extreme-weather events totaled $120 billion—about the same as the economic output of Kenya. And that’s a 50% increase over … Source: Claims Journal

An insurance defense attorney accuses the McClenny Moseley & Associates law firm of teaming up with restoration contractors to illegally acquire clients, which sometimes resulted in duplicate lawsuits being filed against insurers for claimants who were already represented by other … Source: Claims Journal

The family of a student who died from alcohol poisoning while pledging a fraternity will receive nearly $3 million from Bowling Green State University to settle its lawsuit, according to an agreement announced Monday. As part of the settlement, the … Source: Claims Journal

TOKYO (AP) _ The head of a U.N. nuclear agency task force assessing the safety of Japan’s plan to release treated radioactive water from the wreaked Fukushima nuclear plant into the sea said Friday that Japanese regulators have shown their … Source: Claims Journal

BEIRUT (AP) — The judge investigating Beirut’s massive 2020 port blast resumed work Monday after a nearly 13-month halt, ordering the release of some detainees and announcing plans to charge others, including two top generals, judicial officials said. Judge Tarek … Source: Claims Journal

DETROIT (AP) — The U.S. government’s road safety agency has closed a more than six-year investigation into exhaust odors in Ford Explorer passenger cabins, determining that the SUVs don’t have high levels of carbon monoxide and don’t need to be … Source: Claims Journal

COPENHAGEN, Denmark (AP) — There is no indication that either a collision or an explosion caused the 1994 sinking of a ferry in the Baltic Sea in one of Europe’s deadliest peacetime maritime disasters, the accident investigation boards of Estonia, … Source: Claims Journal

RALEIGH, N.C. (AP) — North Carolina’s elected state auditor apologized Monday for leaving the scene of an accident last month after she drove her state-owned vehicle into a parked car, calling it a “serious mistake” and adding she would continue … Source: Claims Journal

Social inflation accounts for 8 to 11 percent of all medical malpractice losses for carriers that insure physicians, according to an actuarial analysis commissioned by The Doctors Co. TDC hired Moore Actuarial Consulting to estimate how much insurers’ average losses … Source: Claims Journal