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The US has spent nearly $1 trillion dollars on disaster recovery and other climate-related needs over the 12 months ending May 1, according to an analysis released Monday by Bloomberg Intelligence. That’s 3% of GDP that people likely would have … Source: Claims Journal

St. Louis Mayor Cara Spencer signed an executive order to waive a 25% holdback of insurance payouts for property damage claims related to the May 16 tornado that damaged at least 10,000 properties in the city. The order instructs the … Source: Claims Journal

Applied Intuition raised $600 million in a funding round and tender offer that valued the automotive software supplier at $15 billion, more than doubling its valuation from last year in a sign of strong investment appetite for autonomous vehicle technology. … Source: Claims Journal

Louisiana Governor Jeff Landry vetoed a bill last week that would have limited bad faith lawsuits against insurers, a move that raised criticism from the insurance industry. SB 111, sponsored by Sen. Alan Seabaugh, R-Many, intended to bring clarity to … Source: Claims Journal

Not one but two class action lawsuits have been filed against Erie Insurance even as the insurer continues to investigate its cybersecurity incident. One lawsuit was filed by an Illinois customer, Neil Plascencia; the other by Amy Haas, a former … Source: Claims Journal

Flash flooding caused by torrential rains killed five people in northern West Virginia and rescue crews were searching for three other people who were missing Sunday as authorities assessed damage to roads, bridges, natural gas lines and other infrastructure. Officials … Source: Claims Journal

When Hurricane Helene’s flood waters slammed into Lake Lure’s century-old dam last September, gouging a massive scar into one embankment and cascading five months’ worth of rain down its sides, town commissioner Dave DiOrio worried it might fail. Emergency sirens … Source: Claims Journal

In any other year, May 14 may well have been an energy disaster in Texas. Temperatures climbed to seasonal levels not seen in over a century: 92F in Dallas, 95F in Houston and 104F in Laredo. Air conditioners hummed en … Source: Claims Journal

It makes sense that Pie Insurance, which arose amid the explosion insurtechs and fintechs in the businessworld, is embracing the power and promise of artificial intelligence—particularly in its claims operations. The Denver, Colorado-based insurer has made a name for itself … Source: Claims Journal

The head of Boeing Commercial Airplanes, Stephanie Pope, met the chairman of Air India on Monday in India, two sources said, as the companies seek to find the cause of last week’s fatal crash involving a Boeing 787 Dreamliner. Pope … Source: Claims Journal