In the past few weeks, ransomware criminals claimed as trophies at least three North American insurance brokerages that offer policies to help others survive the very network-paralyzing, data-pilfering extortion attacks they themselves apparently suffered.
A judge has ruled that the reported $48 million insurance coverage of a collapsed condominium building in Florida is ‘simply not enough,’ as the association responsible for the facility faces five separate lawsuits.
Back in 2011 when I started working on my CPCU I didn’t know a single person who had their CPCU. I was going on blind faith and what I thought was good advice.
Businesses and governments around the world are scrambling to understand yet another major ransomware attack that hit over the weekend, which could potentially cost tens of millions of dollars and affect more than 1,000 other companies.
Officials are investigating whether a natural or man-made gas leak led to a massive explosion that heavily damaged a Warren condominium complex, displaced a dozen families and claimed the life of one resident on July 4.
The U.S. National Transportation Safety Board said it would scan the ocean floor on Monday to locate a Boeing 737-200 cargo plane that sank off Hawaii last week after the two-member crew made an emergency water landing.
While those pressing for innovation often focus on the unbelievable speed of technology change, perhaps the more important issue is the pace at which business models can change.
Several long-established industries are considered ‘legacy’ — having little motivation to change and slow to adopt new, critical technologies. Large, stable industries that provide essential or compulsory goods and services–like insurance–often fit squarely within this realm.
A high-end Tesla Model S Plaid caught fire Tuesday night in Haverford, Pennsylvania, briefly trapping the driver inside, according to the local fire department. A lawyer for the owner said the vehicle ‘spontaneously combusted.’
Workers’ compensation customers entrust their carrier to both take care of their injured employee and protect their company from financial harm. Each claim is unique, and workers’ comp claims adjusters often feel like they are expected to be jugglers or even magicians.
There’s nothing that kicks off a summer holiday weekend like a good blockbuster battle and that’s what the courtroom showdown between the Walt Disney Company and Fireman’s Fund Insurance has all the potential to be.
When one insurance company subrogates against another insurance company and both are members of intercompany arbitration, such as Arbitration Forums, arbitration is mandatory. It is the type of damages sought that determines whether arbitration is compulsory, not the type of coverage afforded by the Respondent.
Insurers are getting a front-row seat in learning the risks that come from aging renewable energy-producing equipment, says an industry expert. The last 15 years have seen a spark in growth in the area of renewable energy development, particularly in wind and solar.
