Posts by Y@DminG

A woman who was injured in a crash while driving a rental car provided by an auto insurer may collect uninsured motorist benefits from more than one policy, the South Carolina Supreme Court ruled Wednesday. In a 3-2 decision, the … Source: Claims Journal

US financial institutions reported nearly $1.2 billion on likely ransomware-related payments last year, most commonly in response to breaches originating with Russian criminal groups, according to the Treasury Department. The payments more than doubled from 2020, underscoring the pernicious damage … Source: Claims Journal

The Federal Emergency Management Agency is reminding flood insurance policyholders hit by Hurricane Ian that they have an extra three months to renew their expiring policies. The agency said last week that Florida property owners with National Flood Insurance Program … Source: Claims Journal

CVS Health Corp., Walgreens Boots Alliance Inc. and Walmart Inc. have agreed to pay about $13.8 billion to resolve thousands of U.S. state, local and tribal government lawsuits accusing the pharmacy chains of mishandling opioid painkillers. CVS said Wednesday it … Source: Claims Journal

MANILA, Philippines (AP) — Philippine President Ferdinand Marcos Jr. on Tuesday blamed years of deforestation for a deadly mudslide that buried a mountainside community amid last week’s torrential rains set off by a storm that has left more than 130 … Source: Claims Journal

LONDON (AP) — Ships loaded with grain departed Ukraine on Tuesday despite Russia suspending its participation in a U.N.-brokered deal that ensures safe wartime passage of critical food supplies meant for parts of the world struggling with hunger. The U.N. … Source: Claims Journal

SEOUL, South Korea (AP) — South Korean officials admitted responsibility and apologized on Tuesday for failures in preventing and responding to a Halloween crowd surge that killed more than 150 people and left citizens shocked and angry. The government is … Source: Claims Journal

FedEx Corp. said it will challenge what may be the largest-ever jury verdict won by a worker suing over racial bias, $366 million awarded to a Black former saleswoman who claimed the company fired her after she complained about discrimination. … Source: Claims Journal

The devastation of Hurricane Ian reminds us that the opportunity for property subrogation success is often disguised as an Act of God. The claims history of most domestic insurance carriers is littered with billion dollar claims as a result of … Source: Claims Journal

Businesses wanting to make their workplaces safer might try adopting a more rigorous accounting system. A new study finds a link between a firm’s workplace injuries and the information quality in its accounting statements. Danye Wang, assistant professor of accounting … Source: Claims Journal