Uncategorized

We recently brought together thought leaders from across Moody’s to talk with the media at our 2023 Hurricane Season Recap and 2024 Outlook briefing, to provide a range of perspectives from meteorology to market impact. We looked back at the … Source: Claims Journal

Xcel Energy Inc. acknowledged that its equipment was likely involved in igniting the worst wildfire in Texas history. But the utility company refuted allegations it had acted negligently. “Based on currently available information, Xcel Energy acknowledges that its facilities appear … Source: Claims Journal

Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and upward reinsurance pricing. Analysts in the report published yesterday found that … Source: Claims Journal

Some of manufacturer Kimberly-Clark Corp.’s neighbors in New Milford, Connecticut believe the paper goods manufacturer has contaminated their soil and drinking water with PFAS chemicals. Three of them have filed a proposed class action claiming that contamination from the manufacturer’s … Source: Claims Journal

An Ohio cannabis manufacturer and its insurer are suing a lighting products provider for negligence after a lamp it sold exploded at a greenhouse, causing six figures worth of damages. Cure Ohio and Dorchester Insurance filed a complaint last week … Source: Claims Journal

Pixel tracking stands at the forefront of digital marketing innovation and is a key tool for understanding user behavior and optimizing marketing strategies. Yet, this powerful technology demands responsible use, especially considering the liability and insurance implications it brings. Understanding … Source: Claims Journal

The latest trial over claims that Johnson & Johnson’s talc products cause cancer ended in a mistrial on Tuesday, as a Florida state court jury said it could not agree on a verdict. The lawsuit was brought by Bob Sugarman, … Source: Claims Journal

The toppled utility pole that Xcel Energy Inc. has been asked to preserve as potential evidence was inspected and marked with a “do not climb” symbol before the start of the worst wildfire in Texas history, photos seen by Bloomberg … Source: Claims Journal

Washington Insurance Commissioner Mike Kreidler on Wednesday sent a letter to insurers urging them to consider loosening personal property claim filing requirements for victims of last summer’s Spokane County wildfires. Insurance companies typically require policyholders to provide a full, itemized … Source: Claims Journal

Lyft has been sued by shareholders for securities fraud after a mistake in a recent earnings release about a key profit metric sent the ride-sharing company’s stock price on a wild ride up, and then down. In a proposed class … Source: Claims Journal