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A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities: Preparing for Ivan Wiper,” focuses on the consequences of … Source: Claims Journal

Mining giants BHP Group and Vale SA offered to pay Brazil about $25.7 billion in total compensation for a 2015 tailings dam disaster at their joint-venture iron ore complex. The offer comes as the companies and Brazilian authorities renew negotiations … Source: Claims Journal

State Street Corp. and the artist it commissioned to create Wall Street’s sculpture have settled a 2019 lawsuit on the eve of trial. The bank, which commissioned the artwork, was set to square off against the sculptor, Kristen Visbal, in … Source: Claims Journal

Apollo Global Management Inc. bet on the longevity of senior citizens by acquiring illegal life insurance policies and funneling the payouts through shell entities, according to a new lawsuit. The private equity giant allegedly set up a web of sham … Source: Claims Journal

The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault auto insurance law and may have finally put to rest years of questions about the much-debated statute. In answering a … Source: Claims Journal

States across the Great Plains in the US are bracing for possible severe thunderstorms — which may include tornadoes and hail. The areas at risk include parts of Iowa, Nebraska, Kansas and Missouri Friday and that expands into Oklahoma and … Source: Claims Journal

Sixty-five percent of North American business leaders fear this election year will impact their ability to trade internationally, with 32% of U.S. leaders saying political risk is their number one threat. In January, Beazley surveyed over 3,500 business leaders in … Source: Claims Journal

A judge has declined to dismiss hundreds of lawsuits filed against rap star Travis Scott over his role in the deadly 2021 Astroworld festival in which 10 people were killed in a crowd surge. State District Judge Kristen Hawkins issued … Source: Claims Journal

HomeServices of America, a real estate brokerage owned by Berkshire Hathaway Inc., reached a settlement agreement in a lawsuit taking aim at agent commissions industrywide. The brokerage agreed to pay a total of $250 million over the course of four … Source: Claims Journal

The top US auto-safety regulator is again investigating Tesla Inc.’s Autopilot, this time over whether a fix deployed months ago did enough to stop people from misusing the system. The National Highway Traffic Safety Administration disclosed Friday that it’s opened … Source: Claims Journal