California Insurance Claims News (Page 10)

Insurers Must Adapt to Climate Change or Face Collapse

With climate disasters becoming more frequent and severe, insurers must shift from compensation to prevention, using technology and data to reduce risks before catastrophe strikes.

February 12, 2025 Catastrophe Insurance Industry Risk Management Technology California

Allstate Projects $900 Million in Reinsurance Recoveries from LA Wildfires

Allstate anticipates recovering $900 million through its reinsurance program after estimating $2 billion in gross losses from the Los Angeles wildfires. This will result in a net loss of $1.1 billion for the insurer.

February 6, 2025 Catastrophe Insurance Industry Property Risk Management California

Tort Costs Rising Faster Than Inflation and GDP, Study Finds

A new study from the Institute for Legal Reform reveals that U.S. tort costs have risen at an annual rate of 7.1% from 2016 to 2022, exceeding both inflation and GDP growth.

February 6, 2025 Insurance Industry Legislation & Regulation Liability Litigation Alaska California Delaware Florida Louisiana

Federal Appeals Court Questions Google’s Monopoly Defense in Epic Games Case

A federal appeals court panel expressed skepticism over Google’s argument that competition with Apple justifies overturning a jury’s ruling that declared its Android app policies an illegal monopoly.

February 5, 2025 Legislation & Regulation Litigation Risk Management Technology California District Of Columbia Virginia

Economic Fallout from Los Angeles Wildfires Could Reach $164 Billion, UCLA Forecasts

The devastating January 2025 Los Angeles wildfires could result in $95 billion to $164 billion in total losses, including $75 billion in insured claims, along with GDP declines, job losses, and rising insurance costs.

February 5, 2025 Catastrophe Legislation & Regulation Property Risk Management California

Bringing European Road Safety Strategies to the U.S.

European road safety initiatives, including Vision Zero, are influencing U.S. transportation policies. Experts highlight innovation, enforcement, and education as key factors.

February 5, 2025 Auto Legislation & Regulation Risk Management Technology California New York Oregon

Rising Insurance Costs Challenge Multifamily Housing Industry

Severe storms, rising construction costs, and increased litigation are driving insurance rates higher for apartment owners, forcing them to adjust coverage, reduce claims, and rethink investment strategies.

January 31, 2025 Insurance Industry Legislation & Regulation Property Risk Management California

Billions Paid in LA County Wildfire Claims as Recovery Continues

Insurance companies have paid $4.2 billion to policyholders affected by the Eaton and Palisades fires in Los Angeles County. Over 31,000 claims have been filed, with more payments expected as recovery progresses.

January 31, 2025 Catastrophe Insurance Industry Risk Management California

Amazon Hit with Class Action Lawsuit Over Alleged Covert Tracking of California Residents’ Locations

Amazon is facing a class action lawsuit in California, accusing the tech giant of secretly tracking and selling users’ sensitive location data through its advertising software.

January 30, 2025 Legislation & Regulation Litigation Technology California

Court Ruling May Expand Liability for Construction Professionals

A recent California court ruling could expand liability for construction professionals by allowing homeowners to sue for negligence, even without a direct contract. This decision highlights the increasing legal exposure for engineers and contractors in residential projects.

January 30, 2025 Liability Litigation Risk Management California