Claims / Legal
Heavy California Rains Ironically Set Stage for Robust Fire Season
Forest fires are picking up once again in California. The cause this time: rain and snow. Really, rain and snow? OK, perhaps not exclusively, but yes, as counterintuitive as it would seem, the weeks ...
Congressional Republicans Introduce Bills to Repeal Rules Barring Forced Consumer Arbitration
Republicans in the U.S. Congress are moving quickly to try to eliminate a new regulation that bars financial firms from forcing consumers into arbitration to settle disputes. Top lawmakers in both ...
$22B in H1 Insured Losses Stem Largely From U.S. Storms: Impact Forecasting
Insured losses for natural disaster totaled $22 billion during the first six months of 2017, with the cost stemming in large part from U.S.-focused, hail, heavy winds and tornadoes. Aon Benfield's ...
States Couldn’t Impose Driverless Car Rules Under House Panel-Approved Proposal
A U.S. House panel on Wednesday approved a sweeping proposal by voice vote to allow automakers to deploy up to 100,000 self-driving vehicles without meeting existing auto safety standards and bar ...
Battle Comes Closer Over New U.S. Rule on Class Action Lawsuits
A U.S. rule years in the making that was intended to restore consumers' ability to band together to sue financial companies could unravel in just a few months as the heads of two federal agencies ...
H1 Natural Disaster Claims Reached $19.5B, Plunging From Previous Year: Munich Re
Insurers paid out around $19.5 billion for natural disaster claims in the first half of 2017, almost 40 percent less than the year-earlier payout of $32 billion, reinsurer Munich Re said on Tuesday. ...
Cyber Attack Leads to Big Business Interruption, Earnings Issues for FedEx’s TNT Unit
FedEx Corp.'s TNT unit is still slogging through some transactions by hand and information systems may never fully recover from a June cyberattack that is expected to deal a blow to earnings. The ...
Sobering Milestone: Cyber Attack Damage Risks Now Rival Hurricanes
Cyber attacks have reached a point where they could rack up billions of dollars in economic and insured losses, rivaling damage created by hurricanes. This milestone means insurers must start ...