Uncategorized

US property insurers are exposed to $12.5 billion in non-physical cyber losses that are not expected and not priced by underwriters, according to a report released Tuesday. CyberCube, AM Best and Aon teamed up to calculate the “silent cyber” exposure … Source: Claims Journal

The company that operates the pipeline that spilled an estimated 3,000 barrels of oil into the Pacific Ocean off California has an 800-page manual on handling an oil spill – but it is unclear whether its employees followed those procedures. … Source: Claims Journal

ZAHRANI, Lebanon (AP) — Firefighters extinguished a huge blaze that broke out in a storage tank at one of Lebanon’s main oil facilities in the country’s south Monday after it sent orange flames and a thick black column of smoke … Source: Claims Journal

SEOUL — South Korean battery firms LG Chem Ltd and LG Electronics Inc will be shouldering a combined $1.2 billion for General Motors Co’s Bolt electric vehicle recall – the lion’s share of the expected costs. GM in August expanded … Source: Claims Journal

CHICAGO — Dale Hadden cannot find any spare tires for his combine harvester. So the Illinois farmer told his harvest crew to avoid driving on the sides of roads this autumn to avoid metal scraps that could shred tires. New … Source: Claims Journal

RICHMOND, Va. (AP) — Most Americans across party lines have serious concerns about cyberattacks on U.S. computer systems and view China and Russia as major threats, according to a new poll. The poll by The Pearson Institute and The Associated … Source: Claims Journal

COWETA, Okla. (AP) — Several reported tornadoes ripped through Oklahoma late Sunday into early Monday morning, causing damage but no immediate word of deaths or injuries. The severe weather system also brought heavy rain, lightning and wind to parts of … Source: Claims Journal

A former medical supply executive in Arkansas who conspired with physicians to dispense pain creams and patches to workers’ compensation claimants defrauded private insurers out of about $2 million and the federal government out of $3.9 million, federal prosecutors say. … Source: Claims Journal

The Biden administration is considering a proposal that could allow some pork plants to slaughter pigs more quickly if they boost staffing, a union official said, after a U.S. court struck down a Trump-era rule that removed line speed limits. … Source: Claims Journal

BLACK HAWK, S.D. (AP) — Hideaway Hills residents are tired of waiting for answers and, in some cases, feel abandoned by politicians who received their votes in previous elections. “This was our nest egg,” Valerie Smith said this week. “We … Source: Claims Journal