Uncategorized
Viewpoint: Calculating Business Interruption Costs in Cyber Claims
While cyber was incorporated in some general liability policies (GL) of the 1980s, the first cyber standalone policy was written in 1997 through American International Group. Though groundbreaking, as it was the first to address cybersecurity, it was a third-party … Source: Claims Journal
Read MoreCalif. Emission-Free Mandate Presents New Risks for Auto Insurers
A state mandate in California that will require all cars sold after 2035 to be emission free presents a formidable challenge for auto insurers to properly price and fully understand the risks presented by electric vehicles. The rule adopted by … Source: Claims Journal
Read MoreMiss. Gov. Declares Emergency Ahead of Expected Flooding
JACKSON, Miss. (AP) — A state of emergency is in effect in Mississippi as officials anticipate potentially massive flooding from a rising river sooner than expected, Mississippi Gov. Tate Reeves said Saturday. “We’re expecting the Pearl to crest at 36 … Source: Claims Journal
Read MoreOregon Wildfire Grows Rapidly, Destroys Several Structures
MERLIN, Ore. (AP) — A wildfire in remote southwest Oregon continued its rapid spread through a rural area and destroyed several structures, after forcing evacuations and prompting the state to take command of efforts to contain the blaze, officials said … Source: Claims Journal
Read MorePakistan Flooding Deaths Pass 1,000 in ‘Climate Catastrophe’
ISLAMABAD (AP) — Deaths from widespread flooding in Pakistan topped 1,000 since mid-June, officials said Sunday, as the country’s climate minister called the deadly monsoon season “a serious climate catastrophe.” Flash flooding from the heavy rains has washed away villages … Source: Claims Journal
Read MoreCosmetics Giant Sephora Settles Customer Data Privacy Suit
SACRAMENTO, Calif. (AP) — Sephora Inc., one of the world’s largest cosmetics retailers, has settled a lawsuit claiming that the company sold customer information without proper notice in violation of the California’s landmark consumer privacy law, state Attorney General Rob … Source: Claims Journal
Read MoreOfficials Hope to Reopen Flood-Damaged LA to Phoenix Highway
DESERT CENTER, Calif. (AP) — Officials hope to fully reopen the main highway from Los Angeles to Phoenix by early next week after a flash flood washed out part of the road through the Southern California desert. The flooding began … Source: Claims Journal
Read MoreHUD, Texas at Odds over Flood Relief Discrimination Claim
HOUSTON (AP) — The faded and weathered construction permits still taped to Houston resident Mal Moses’ front door are reminders of the difficulties he faced in trying to get his mold-infested walls and leaky roof repaired after Hurricane Harvey in … Source: Claims Journal
Read MorePipeline Operator Agrees to Guilty Plea in California Spill
SANTA ANA, Calif. (AP) — A pipeline operator and two subsidiaries agreed Friday to plead guilty to negligently discharging oil off the Southern California coast in connection with a pipeline break that covered beaches with blobs of crude. The U.S. … Source: Claims Journal
Read MoreViewpoint: Can the Florida Insurance Market Withstand a $100B Repeat of Hurricane Andrew?
Hurricane Andrew’s landfall in Florida in 1992 changed the face of property cat insurance and kick-started many new initiatives, including the development of hurricane risk modeling. However, with significant exposure growth, the impact of social inflation, and climate change complications, … Source: Claims Journal
Read More