A pipeline operator has agreed to pay $50 million to thousands of Southern California fishermen, tourism companies and property owners who sued after an offshore oil spill last year near Huntington Beach.
U.S. renewable energy insurers are expected to pay out more than $300 million in claims due to hailstorms in Texas this year, GCube Underwriting Ltd. said in a report Tuesday.
Wildfire-savvy homeowners in California soon will pay lower insurance rates for taking steps to protect their properties from infernos made worse by climate change.
This August, as Death Valley experienced a 1,000-year rain event, all Steve Tagert could see were the pollution risks. In a matter of hours, nearly a year’s worth of rain poured from the sky.
What was supposed to be a picture day with the pumpkins turned into dozens of families running for their lives. More than 70 cars went up in flames at a pumpkin patch near Temple, Texas.
Heather O’Brien’s phone hasn’t stopped ringing in the two weeks since Hurricane Ian hit. O’Brien, who along husband Capt. Pat O’Brien has owned the Fort Myers Sea Tow franchise since 1996, already has responded to ‘hundreds’ of situations where boats were sunk or displaced or need to be recovered because of the storm.
Two recently filed lawsuits, Aloha Petroleum Ltd. v. National Union Fire Insurance Co. and Everest Premier Insurance Co. v. Gulf Oil Ltd. Partnership, signal the beginning of litigation over liability insurance coverage for climate change-related lawsuits and damages.
Underlying Claims
Climate Change Contribution
Since 2017, state and local governments around the U.S. have been filing lawsuits against oil and gas companies for their contribution to climate change.[2]
The government entities allege that production and use of defendants’ fossil fuel products has created greenhouse gas pollution, which is causing global warming, sea level rise, and increased frequency and severity of extreme weather events, resulting in climate change-related injuries to the plaintiffs.
Wisconsin-based Acuity Insurance has reported an increased need for cyber liability insurance among both personal and business policyholders as cybercrime continues to grow. Between June 2021 and June 2022, Acuity Insurance saw cyber liability claims on its commercial insurance policies spike by more than 50%. For personal policies, Acuity reported a 90% increase in cyber claims in 2021 over 2020.
A key charge in the obstruction of justice trial arising from the infamous dossier on Donald Trump’s alleged ties to Russia was thrown out last Friday by a federal judge. Igor Danchenko is on trial charged with lying to the FBI about his role in creating the dossier. Here is why insurance fraud investigators should be very concerned.
Litigation could cost the plastics industry and its insurers $20 billion in the US over the next eight years, according to a report backed by the United Nations and an Australian billionaire.
Hurricane Ian was a devastating storm for southwest Florida. While out in the Gulf of Mexico, it became a high-end category 4 hurricane early on September 28, 2022 and made landfall later that afternoon. The areas where Ian made landfall will likely have little potential for subrogation. There will, however, be opportunities for subrogation along the storm’s path across the state of Florida.
Inflation was running hot even before Russia’s invasion of Ukraine, driven by higher commodity prices, supply-chain interruptions, and high energy prices. The war in Ukraine caused further price shocks for a wide range of commodities, energy and food.
Preliminary analysis of Hurricane Ian’s deadly storm surge suggests the Gulf of Mexico pushed as high as 15 feet above normally dry ground on Fort Myers Beach as it made landfall, the National Hurricane Center said Thursday.
A Chevy Bolt battery lawsuit will continue in court, although several claims were dismissed in the most recent court action of the case. The Chevrolet Bolt battery class action lawsuit was consolidated from eight separate class actions.