Claims / Legal
Insured Maui Fire Losses at Least $2.5B; Small Insurers Most at Risk
Moody's RMS estimates $4-6 billion in economic losses from the recent Lahaina Conflagration and Kula wildfires in Hawaii, the catastrophe risk modeler said yesterday, estimating insured losses at ...
Severe Weather Set to Boost U.S. Disaster Funding Needs, FEMA Says
Growing extreme-weather risks mean President Joe Biden's expected request for billions in extra disaster-relief funding might not be enough for the next fiscal year, FEMA head Deanne Criswell said. ...
Maui Fire Lays Bare Utility Missteps Mirrored Across the Country
When flames ripped through the drought-parched town of Paradise in 2018, destroying homes and killing 85 in California's deadliest-ever wildfire, it was a wake-up call to power companies across the ...
Claims Pros Warned About Confirmation Bias and Inflated Line Items
GARDEN GROVE, California—The charred remains of a dog found among the ruins of a house that was destroyed in a sudden fire added an air of legitimacy to the insurance claim. For sure, homeowners ...
Hilary’s Rains Reach California
Tropical Storm Hilary made landfall along the Baja peninsula Sunday, with the rare Pacific storm set to pummel Northern Mexico, Southern California and the U.S. Southwest with torrential rains and ...
Allstate Agrees to Settle Shareholders Class Action for $90M
To settle a years-long securities class action lawsuit against it, Allstate Corp. has agreed to set up a $90 million fund for shareholders who accused the insurer of false and misleading statements ...
FedEx Faces Safety Issues as Driver Accidents, Insurance Costs Rise
FedEx Corp. is pressuring delivery contractors to improve safety after mounting accidents helped trigger a near-tripling of insurance costs over the decade. FedEx is requiring contractors that ...
Climate Change Lawsuits More Than Double in Five Years
The number of court cases related to climate change has more than doubled in five years as impacts ranging from shrinking water resources to dangerous heatwaves hit home for millions, a report said ...