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Chubb Highlights Construction Contractor Emerging Risks in New Advisory

As construction contractors incorporate project design and digital technologies into their businesses, Chubb has issued an advisory to help them understand and manage emerging professional liability and privacy and network security exposures. Co-authored by two Chubb executives, the advisory, “New … Source: Claims Journal

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Takata Placing Worst-Case Recall Costs at $24B

Takata Corp., the supplier behind the auto industry’s biggest recall ever, estimated that a comprehensive callback of its airbag inflators would total about 2.7 trillion yen ($24 billion), according to a person familiar with the matter. The shares plunged to … Source: Claims Journal

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North Texas Earthquake Risk Higher Than Ever Before

A U.S. Geological Survey report concludes the risk of earthquakes for the Dallas-Fort Worth area is higher than it’s ever been. The USGS report released Monday, according to The Dallas Morning News,  incorporates “induced” earthquakes into federal seismic hazard maps. … Source: Claims Journal

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No Criminal Charges in Deadly California Balcony Collapse

A California prosecutor has decided against filing criminal charges in a fifth-story balcony collapse in Berkeley last year that killed six students from Ireland and injured seven other people, officials said Tuesday. Alameda County District Attorney Nancy O’Malley said she … Source: Claims Journal

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Self-Driving Cars Will Likely Put a Dent in Auto Insurer Profits

Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-ten years, a benefit for auto insurers. Longer term, self-driving … Source: Claims Journal

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IIHS: First Headlight Rating Test Reveals Dismal Results

The Toyota Prius v is the only midsize car out of 31 evaluated to earn a good rating in the Insurance Institute for Highway Safety’s first-ever headlight ratings. The best available headlights on 11 cars earn an acceptable rating, while … Source: Claims Journal

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