Due To Breach Of Contract, Court Voids Coverage For Massachusetts Boat Shop
The owner of a boat repair and storage business won’t get any help from his insurance company to fend off lawsuits from customers whose boats were damaged or destroyed in a fire in 2018.
September 14, 2020
Excess & Surplus Lines
Litigation
Massachusetts
City Of Charleston Sues 24 Oil And Pipeline Firms Over Chronic Flooding
The city of Charleston, South Carolina filed a lawsuit against two dozen of the largest pipeline and oil conglomerates, saying the firms are responsible for making the floods that often hit the port city more frequent and more damaging.
September 11, 2020
Excess & Surplus Lines
Liability
Litigation
South Carolina
Creditors Of Farmers Elevator Co-Op Settle For $1.45M From D&O Insurance
Creditors of the defunct Ashby Farmers Cooperative Elevator Co. have settled a claim with its former board members for failing to uphold their fiduciary responsibility and monitor the actions of former manager Jerry Hennessey, who stole millions of dollars from the elevator.
September 4, 2020
Excess & Surplus Lines
Litigation
Minnesota
Analyzing And Defending Claims Involving Large Single-Family Homes
Despite recent public health considerations, data and news reports show construction and sales of luxury single-family homes as a percentage of overall market share has grown over the past several years.
September 3, 2020
Excess & Surplus Lines
Litigation
Property
Peach Recall Expanding Over Possible Salmonella Contamination After 78 Sickened In 12 States
A peach recall has expanded to include loose peaches and peach products after 78 people were sickened in 12 states by salmonella poisoning linked to the fruit, the US Centers for Disease Control and Prevention said Thursday.
August 28, 2020
Excess & Surplus Lines
Alabama
Alaska
Arizona
California
Colorado
400% Increase In Reported Cyberattacks Since The Start Of The Pandemic
With remote work becoming more common, there has been a rapid increase in cybersecurity incidents among small to mid-sized businesses – meaning SMBs need to take steps to guard their data, according to cybersecurity firm DIGIGUARD.
August 27, 2020
Education & Training
Excess & Surplus Lines
Construction Site Fire Damages Four Buildings In Seattle
Crews worked to put out a three-alarm fire that heavily damaged four buildings in Seattle’s north Beacon Hill neighborhood early Thursday. Seattle fire said the fire alarm center received a call about a fire at a new construction site at 5:42 a.m.
August 21, 2020
Excess & Surplus Lines
Property
Washington
Rural Missouri Bridge Collapses Under Overweight Semi
A bridge near Westphalia collapsed Monday after a semi-trailer attempted to cross. The Pentecostal Bridge, which takes County Road 611 across the Maries River, had a 5-ton weight limit, Osage County Sheriff Micahel Bonham said.
August 18, 2020
Excess & Surplus Lines
Missouri
Looming Cyber Risk: Biometric Data And Class Action Lawsuits
It’s one storm after another for the cyber insurance market. Five years ago, the biggest concern for cyber insurers was the protection and security of payment card industry (PCI) data.
August 17, 2020
Excess & Surplus Lines
Litigation
Report: US Has The Highest Average Cost For Data Breaches
More than 8.5 billion records were compromised in data breaches in the span of one year ending April 2020, and the average cost of a mega-sized data breach was $3.86 million, a new report by IBM has found.
July 31, 2020
Excess & Surplus Lines
Technology
Train Derailment Causes Fire And Partial Bridge Collapse Near Tempe
A train fire and derailment caused a partial collapse of a railroad bridge over Tempe Town Lake. The incident occurred around 6 a.m. Wednesday on the south side of the lake near Mill Avenue.
July 29, 2020
Excess & Surplus Lines
Arizona
3 Dead After Small Plane Crashes In Utah Backyard
A small plane crashed in a suburban Salt Lake City neighborhood, killing at least three people, police said. The crash happened Saturday afternoon when a Piper PA-32 aircraft carrying six people crashed into a backyard in the city of West Jordan, Federal Aviation Administration spokesman Allen Kenitzer said.
July 27, 2020
Excess & Surplus Lines
Utah
Why E-sports Could Be Insurance’s Next Big Opportunity
Opportunities for insurance in the e-sports space has grown to a point where it can’t be ignored, says an industry observer. Video gaming is at an all-time high during the COVID-19 pandemic, according to information collected by data and measurement firm Neilsen.
July 16, 2020
Excess & Surplus Lines
Hacking Attacks On Hospitals For Patient Data Increase During Pandemic
On the day before the July 4 holiday weekend, Mount Auburn Hospital’s information technology team identified some unusual activity. Alarmed, they quickly took steps to disconnect the Cambridge hospital’s computer system from the internet.
July 15, 2020
Excess & Surplus Lines
Fraud
Technology
Harvey Weinstein Accusers Fear Insurers Could Be Shielded From Big Payouts
Several women who claim they were sexually abused by disgraced film producer Harvey Weinstein are pleading with a US judge to reject an $18.9 million settlement with the former entertainment mogul, fearing that the deal would prevent the defendants’ insurers from making bigger payouts.
July 14, 2020
Excess & Surplus Lines
Liability
Litigation
New York
