Claims / Legal
AXA Won’t Cover Ransomware Extortion Payments Anymore in France
In an apparent industry first, the global insurance company AXA said Thursday it will stop writing cyber insurance policies in France that reimburse customers for extortion payments made to ...
Why Rapid Cyber Rate Hikes Will Continue for Some Time
While global commercial insurance rate hikes are starting to moderate, cyber seems likely to be an outlier for some time to come. "Right now, we are not at a stage where we can see the end of the ...
Ransomware Attack Shuts Down Major U.S. Fuel Pipeline
Top U.S. fuel pipeline operator Colonial Pipeline shut its entire network, the source of nearly half of the U.S. East Coast's fuel supply, after a cyber attack on Friday that involved ransomware. The ...
Texas Judge Rules Against Insurer, Refusing to Dismiss Theater Chain’s COVID Lawsuit
A federal judge in Sherman, Texas on Wednesday ruled against an insurer that sought to dismiss a $500 million COVID-19 business-interruption lawsuit by the nation's third-largest chain of movie ...
Texas Governor Backs Exxon Mobil’s Petition to Reverse Climate Change Court Decision
The governor of Texas in an unusual move on Thursday asked the state's Supreme Court to accept an Exxon Mobil Corp petition seeking to reverse a state court decision in a climate change case. ...
Insurer Reviews Options After Egyptian Court Allows Continued Container Ship Detention
An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its ...
COVID Is One of Many Risks Insurers and Financial Sector Firms Face: Allianz
Covid-19 may drive market corrections and insolvencies that could impact financial institutions' balance sheets, increase exposures for directors and result in litigation. However, financial ...
SCOTUS Won’t Revive Wells Fargo Accounts Scandal Suit
The U.S. Supreme Court on Monday rebuffed a bid by current and former employees of Wells Fargo & Co to revive a lawsuit over losses to their retirement plan following a scandal over fake accounts ...