News Archives - Insurance Journal

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26 04, 2024

Here’s Why Experts Don’t Think Cloud Seeding Caused Dubai Flooding

By | April 26th, 2024|Uncategorized|Comments Off on Here’s Why Experts Don’t Think Cloud Seeding Caused Dubai Flooding

With cloud seeding, it may rain, but it doesn’t really pour or flood — at least nothing like what drenched the United Arab Emirates and paralyzed Dubai, meteorologists said. Cloud seeding, although decades old, is still controversial in the weather …

26 04, 2024

Judge Won’t Dismiss Lawsuits Against Travis Scott Over Deadly Astroworld Concert

By | April 26th, 2024|Uncategorized|Comments Off on Judge Won’t Dismiss Lawsuits Against Travis Scott Over Deadly Astroworld Concert

HOUSTON (AP) — 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 …

26 04, 2024

Central US Braces for Severe Weather Outbreak

By | April 26th, 2024|Uncategorized|Comments Off on Central US Braces for Severe Weather Outbreak

An active weather pattern could bring destructive tornadoes, heavy rains, large hail and strong wind gusts to parts of the central United States over the next several days, according to meteorologists at the National Weather Service and Accuweather. Two strong …

26 04, 2024

Missouri House Backs Legal Shield for Weedkiller Maker Facing Cancer Lawsuits

By | April 26th, 2024|Uncategorized|Comments Off on Missouri House Backs Legal Shield for Weedkiller Maker Facing Cancer Lawsuits

JEFFERSON CITY, Mo. (AP) — The manufacturer of a popular weedkiller won support Wednesday from the Missouri House for a proposal that could shield it from costly lawsuits alleging it failed to warn customers its product could cause cancer. The …

26 04, 2024

Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises

By | April 26th, 2024|Uncategorized|Comments Off on Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises

Cyber claims frequency in the U.S. rose 13% last year, a new report shows. According to Coalition’s 2024 Cyber Claims Report, released this week, cybercrime is “a thriving business that adversely impacts” the economy. In 2023, there were more than …

19 04, 2024

Time-Tested Loss Reserving Methods Challenged: AM Best

By | April 19th, 2024|Uncategorized|Comments Off on Time-Tested Loss Reserving Methods Challenged: AM Best

Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said in a new report. As companies “finished reporting their …

19 04, 2024

UK Finance Watchdog Plans on Diversity Targets a ‘Bad Idea,’ Minister Says

By | April 19th, 2024|Uncategorized|Comments Off on UK Finance Watchdog Plans on Diversity Targets a ‘Bad Idea,’ Minister Says

Plans by Britain’s financial regulator to require firms to set targets for improving diversity could be counterproductive, UK business and women minister Kemi Badenoch said on Thursday. The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority …

19 04, 2024

Liberty Mutual Insurance Continues Restructuring of Global Risk Solutions Unit

By | April 19th, 2024|Uncategorized|Comments Off on Liberty Mutual Insurance Continues Restructuring of Global Risk Solutions Unit

Liberty Mutual Insurance announced strategic updates in its ongoing restructuring of Global Risk Solutions (GRS), the company’s global commercial and specialty re/insurer and international insurance operations. The restructuring includes the creation of a new international insurance business division, the unification …

19 04, 2024

Allstate Reports $731M in Q1 Pretax Catastrophe Losses

By | April 19th, 2024|Uncategorized|Comments Off on Allstate Reports $731M in Q1 Pretax Catastrophe Losses

Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March. Six events contributed to the $343 million total for March — before favorable reserve re-estimates brought down the total. One hail event accounted …

19 04, 2024

FBI Says Chinese Hackers Preparing to Attack US Infrastructure

By | April 19th, 2024|Uncategorized|Comments Off on FBI Says Chinese Hackers Preparing to Attack US Infrastructure

Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday. An ongoing Chinese hacking campaign known as Volt Typhoon has successfully …