Major corporations and their insurers should be shaking in their boots when it comes to their casualty insurance. The severity of claims related to large corporate risks (LCR) has increased in the past decade, and not by an insignificant degree.
Vermont announced Thursday that it’s filed lawsuits against DuPont, 3M and other chemical companies for damages it says was caused to groundwater, drinking water and other natural resources by the contamination of a class of potentially toxic chemicals.
The fourth annual edition of AIG’s M&A Claims Intelligence Series reveals increases in the severity and long-tail nature of M&A claims that, coupled with a competitive marketplace, declining rates and broadening terms and conditions, could mean serious challenges to profitability — and an increased likelihood of higher rates.
Philadelphia Energy Solutions (PES) on Wednesday confirmed it will soon close its South Philadelphia oil refinery after last week’s devastating explosions and resulting fire and “position the refinery complex for a sale and restart.” Wholesale gasoline prices surged on news of a closure.
CLM’s newly formed Cannabis Committee aims to promote education on claims and litigation management relative to all aspects of the cannabis industry, including current legal and regulatory compliance, claims handling, and litigation management best practices that are unique to this highly regulated and quickly expanding industry.
The 2019 Mississippi River flood fight is going to slog deep into the summer — and maybe much longer. While communities north of St. Louis are beginning the expensive path to recovery after record-breaking winter and spring precipitation and runoff, people below the Missouri River are shoveling mud from their houses and praying for a dry spell.
A Hyundai and Kia fire lawsuit alleges recalls ordered to repair Theta II engine problems didn’t do enough to protect millions of customers from the risk of finding their vehicles in flames.
A leading record company is under fire after a 2008 blaze destroyed music by big-name stars. Universal Music Group was hit with a $100 million lawsuit by grunge group Soundgarden, the estates of rapper Tupac Shakur and rocker Tom Petty, and others over the fire at Universal Studios Hollywood more than a decade ago.
In today’s modern world, more individuals are using wearable devices to help them stay connected, keep better track of their daily activities, and achieve their health, fitness, and overall wellness goals. But with improving technology and expanding opportunities, wearable devices are now taking on much larger roles.
A year at a consultancy, two years at a fintech in Slovenia, a year at a think-tank in New York? The most talented young people flit between jobs, cities and industries.
Technology is the foundation of the insurance industry: the means to solve or approximate answers to questions about the cost and availability of insurance, in addition to ways to reduce risk, improve service and expand coverage.
Two marinas in Kentucky have been heavily damaged after the area was struck by severe storms and tornadoes. The Marshall County Emergency Management Agency praised emergency services on two separate occasions for their response to the extreme weather which has battered the county over the past few days.
Alternative energy insurers are finding that frequency and severity in solar and wind farm losses are greater than they ever imagined. Four or five years back, maybe more, a host of insurers were keen to get into the alternative energy space. The risks were seen as relatively benign, capacity was ample and rates were low.
Vehicle insurance claims in the Land of Lincoln could rise as the result of legalizing marijuana if Illinois follows a trend experienced in other states that allow the sale of recreational pot.
Insured losses from the Memorial Day tornadoes have passed an estimated $550 million, and the tally is still underway to determine how many tornado-damaged properties were uninsured.
