Claims / Legal
Insurers Challenge Boy Scouts $2.5B Bankruptcy Approval Alleging Abuse
A group of insurers—including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers—are challenging an approval of the Boy Scouts of America's $2.46 billion bankruptcy ...
Unauthorized Access to FTX Accounts Following Bankruptcy Filing
Collapsed cryptocurrency trading firm FTX confirmed there was "unauthorized access" to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company's ...
FEMA Projects $3.5-$5.3B NFIP Losses for Hurricane Ian
On Friday, the Federal Emergency Management Agency announced an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5-$5.3 billion, ...
SEC Cyber, Climate Disclosure Rules May Drive Up D&O Claims
New rules proposed by the U.S. Securities and Exchange Commission on cybersecurity and climate impact disclosures may generate more lawsuits that will generate claims against directors and officers ...
How to Tackle Inflation-Driven Pricing, Reserve Risk: A Coverage Fix
Annualized inflation in the U.S. topped 5 percent just once since 1981—until now. In the UK, it exceeded 3 percent only rarely since 1992, and only ever by a fraction. In France, the change in the ...
All The Latest Insurance Company Estimates: Hurricane Ian Losses (as of 10/20)
A recap of individual company estimates, net of reinsurance, summing to over $7.5 billion as if Oct. 20 is presented below. (Editor's Note: After the table was compiled, Munich Re disclosed its ...
After Ian Swamped His Office, Florida Insurance Agent Picks Up the Pieces
In the days following Hurricane Ian's U.S. landfalls, John Gardner found himself in a position no insurance agent would like to be in: no office to work in, no electrical service and no Internet, but ...
Florida CFO Urges Outright Ban on AOB Agreements
In the wake of Hurricane Ian, Florida's chief financial officer has taken a hard line on insurance claims litigation, calling for an outright ban on assignments-of-benefits agreements. At a press ...