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Insurers See Minimal Impact From Hurricane Beryl, but They’re Bracing for an Active Season

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Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the P&C and reinsurance sectors, Moody’s Ratings said. Beryl made landfall along the Texas coast as a category … Source: Claims Journal

Wildfires Encircle Canada’s Oil-Sands City Amid Hot Weather

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A ring of wildfires has erupted around Canada’s unofficial oil-sands capital of Fort McMurray, adding new threats to crude production from the world’s third-largest petroleum reserves. Eight out-of-control blazes have been discovered just south and southwest of the city since … Source: Claims Journal

AT&T Says Data From 109M U.S. Customer Accounts Illegally Downloaded

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AT&T said Friday the company suffered a massive hacking incident as data from about 109 million customer accounts containing records of calls and texts from 2022 was illegally downloaded in April. The U.S. telecom company said the FBI is investigating … Source: Claims Journal

Healthcare Companies Are Sending Customer Data to Big Tech

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California-based health system Kaiser Permanente recently alerted millions of people that their private information was inappropriately shared with tech giants, angering patients who weren’t aware of the practice. A Bloomberg News analysis showed the same kinds of online trackers remain … Source: Claims Journal

Dollar General to Pay $12M Penalty, Improve Safety Under Settlement

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Discount store operator Dollar General has agreed to pay $12 million in penalty for alleged safety violations that led to blocked exits and fire extinguishers and unsafe storage, requiring the company to improve workplace safety in stores across the U.S. … Source: Claims Journal

Nordea Risks Money Laundering Fine Near $1 Billion, Experts Say

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Nordea Bank could face an estimated maximum fine of almost $1 billion over alleged failures to stop money laundering if it loses its case with Denmark, according to some legal experts, an amount that would far exceed the lender’s own … Source: Claims Journal

SpaceX Wins Block on U.S. Labor Board Case Over Severance Agreements

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A federal judge in Texas said on Wednesday he would block the National Labor Relations Board from pursuing claims that Elon Musk’s SpaceX forced workers to sign illegal severance agreements, pending the outcome of the rocket maker’s challenge to the … Source: Claims Journal

Citi Fined $136 Million for Failing to Fix Regulatory Issues

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Citigroup Inc. will pay almost $136 million in fines to US bank regulators over issues related to data-quality management and risk controls. The Federal Reserve said Wednesday that its penalty was for Citi violating an enforcement action from 2020. The … Source: Claims Journal

Biden Administration Raises FEMA Bar for Flood Resilience

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The US Federal Emergency Management Agency (FEMA) has finalized a rule mandating that projects built using its funds not only take into account previous and current levels of local flood risk, but for the first time consider the future risk … Source: Claims Journal

Damage From Hurricane Beryl May Cost Insurers $2.7B in U.S., Modeler Says

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Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co. said on Thursday. About 1.5 million customers remained without power in Texas on Wednesday, … Source: Claims Journal