Claims / Legal
Florida Carriers, Facing Market Turmoil, Pursue Massive Rate Increases
It's no surprise that Florida carriers are raising homeowners insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. ...
Wells Fargo Will Fork Over $3B to Settle Consumer Abuse Allegations
Wells Fargo & Co. will pay $3 billion to settle U.S. investigations into more than a decade of widespread consumer abuses under a deal that lets the scandal-ridden bank avoid criminal charges. ...
Global Financial Firms Risk $1 Trillion in Losses if Slow to Act on Climate Change
The world's financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new ...
Kingdollar Comments: Emerging Risk Issues Left Out of Algorithms
Emerging issues occur far more frequently than "black swans" and include more than just "casualty catastrophes." Still, such issues have, and will continue to, cost the property/casualty insurance ...
Proposed U.S. Legislation Coming That Threatens Tech Platform Encriptions
U.S. legislation will be introduced in the coming weeks that could hurt technology companies' ability to offer end-to-end encryption, two sources with knowledge of the matter said, and it aims to ...
Ransomware Shuts U.S. Natural Gas Compressor Facility for Two Days
A recent ransomware attack caused a U.S. natural gas compressor facility to shut for two days, the latest in a string of attacks targeting the country's energy infrastructure over the past few years. ...
Sanofi to Work with U.S. Agency on Coronavirus Vaccine
French drugmaker Sanofi is working with a U.S. government agency to develop a vaccine against the new coronavirus from China, saying it could have a candidate ready for clinical trials within a year. ...
Chinese Province Launches Specialty Insurance for Businesses Slammed by Coronavirus
China's southern province of Hainan has launched the first specially-designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the ...