Litigation/Liability Trends
A Roundup of Major Insurer/Reinsurer Hurricane and Quake Losses Thus Far
Losses from Hurricane Maria and other recent 2017 natural catastrophes—including hurricanes Irma and Harvey, the Mexico City earthquakes, and other events—have led global insurers and reinsurers ...
Appeals Court Overturns $663M Trinity Guardrail Judgement
Trinity Industries Inc. won't have to pay a $663 million judgment that was awarded in a whistle-blower lawsuit alleging the company defrauded the U.S. government with a faulty highway guardrail ...
Hurricane Maria Insured Loss Estimates Vary Widely in Focus
Catastrophe modeling firms are beginning to issue preliminary estimates of the insured losses left in Hurricane Maria's wake. RMS Said Insured Losses Could Have Been Worse RMS predicted that the ...
AGCS and Cyence Link on Cyber Risk Modeling Plan
Allianz Global Corporate & Specialty SE is turning to Silicon Valley startup Cyence an effort to boost its ability to perform global cyber risk analysis in multiple ways. Their pairing will allow ...
Small, Medium-Sized Businesses See BI Coverage Gaps After Terrorist Attacks: Pool Re Report
Many terrorism insurance policies are triggered when there is physical damage to a property. As a result, commercial insurance buyers may find that they are unprotected against business interruption ...
Equifax CEO Smith Retires After Massive Cyber Attack
Equifax said on Tuesday its Chief Executive Officer Richard Smith will retire following a massive data breach at the credit reporting firm that exposed personal details of up to 143 million U.S. ...
Expect More Energy Contract Lawsuits, Thanks to Hurricane Harvey
Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing ...
Harvey Likely Hit Hiscox With $150M in Net Insurance Claims
Specialist insurer Hiscox Ltd. believe it will see net claims from Hurricane Harvey hovering around $150 million. The number is based on an insured market loss prediction of $25 billion, excluding ...