Claims / Legal
Intact Financial to Report $248 Million in Losses From Floods in Canada
Intact Financial Corp., the largest property and casualty insurer in Canada, will record losses of C$257 million ($248 million) from flooding in Alberta and Toronto, and a train explosion in Quebec. ...
Full Disclosure: Climate Change May Prove Risky For Insurers
Insurance companies are in a tricky position when it comes to the issue of climate change. On the one hand, virtually all of them insure policyholders facing the risk of a climate change liability ...
Long-Buried Seawall Protected Homes From Hurricane Sandy’s Record Storm Surge
Picture two residential beach communities on the New Jersey shore: Bay Head and Mantoloking, which side-by-side in Ocean County on a narrow barrier island that separates the Atlantic Ocean and ...
BP Loses Bid to Halt Oil Spill Claim Payments
A federal judge denied an attempt by BP Plc to suspend payments to people and businesses claiming damages related to the 2010 Gulf of Mexico oil spill, while an investigator looks into possible ...
World Trade Center Developer Denied Right to Pursue $3.5B From Airlines
Real estate developer Larry Silverstein was denied the right to seek $3.5 billion from airlines whose planes were hijacked by terrorists and flown into the World Trade Center's twin towers on Sept. ...
Colorado Wildfire Cost Insurers $292.8M
The Colorado Black Forest wildfire cost insurers $292.8 million and ruined a record 486 structures, making it the second-most costly fire in the state's history. Policyholders submitted 3,630 home ...
Paint Makers’ $900M Lead Paint Trial Underway in California
BP Plc's Atlantic Richfield Co. is among five companies fighting a public nuisance lawsuit in state court seeking $900 million to replace or contain lead paint in millions of California homes. In a ...
Greenberg Presses for Bernanke Testimony in Lawsuit Over AIG Bailout
U.S. Federal Reserve Chairman Ben Bernanke should be required to testify in Maurice "Hank" Greenberg's lawsuit over the bailout of American International Group Inc., Greenberg's lawyers said. ...