Litigation/Liability Trends
Lloyd’s Seeks Clarity Regarding Insurance Policies With Cyber Cover
Lloyd's of London wants all insurance and reinsurance policies to clearly state whether coverage will be provided for losses caused by a cyber attack, saying this was in the best interest of both ...
Boeing Pledges $100M to Support Families of Max Jetliner Crash Victims
Boeing Co. is offering $100 million to support the families of victims and others affected by two crashes of its 737 Max jetliner, which killed 346 people and have led to scores of lawsuits. The ...
Data Breaches Take Months to Discover, but They Happen Within Minutes
While it typically only takes a short amount of time for a successful breach to compromise data, the amount of time it takes for a breach to be discovered is more likely to be months. This means ...
Report: China Hacked Eight Major Computer Services Firms to Steal Commercial Secrets
Hackers working for China's Ministry of State Security broke into networks of eight of the world's biggest technology service providers in an effort to steal commercial secrets from their clients, ...
Prices Soaring: Persian Gulf Oil Shipments Cost More than $500,000 to Insure
The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo ...
Ex-AIG Traders Win UK Judge’s Backing in Bid to Obtain $100M in Bonuses
A group of former traders and managers at American International Group Inc. won a London judge's backing in their battle to obtain $100 million dating back to the financial crisis, after he said that ...
Two Ex-AIG Employees Awarded $10 Million Ahead of Larger, Related U.K. Bonus Case
Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to block the payment of bonuses they'd ...
California Utility Will Pay $1B to Settle Fire Claims With Local Governments
PG&E Corp will pay $1 billion as part of its bankruptcy reorganization to more than a dozen local governments in California struck by wildfires in recent years, the company and lawyers for the ...