The lack of cyber case law worked against an insurer in the Ontario Superior Court of Justice recently, with the court deciding that The Co-operators has a duty to defend two parties named in a $75-million cyber breach class action lawsuit.

A perfect storm of macro factors has supercharged several trends in the insurance industry, producing almost touchless processes for claims and enabling cycle times of seconds, minutes and hours instead of days and weeks.

Smoke continued to hang in the air Monday morning as firefighters mopped up hot spots after a huge fire destroyed a four-story apartment complex under construction in downtown Phoenix.

Ten racehorses were killed in a fiery tractor trailer crash early Sunday morning on the New Jersey Turnpike. Two of the horses identified in the crash were sired by champion horses.

While the insurance industry grapples with the coming influx of Covid-19 litigation, transportation insurers would be wise to use their 2008 playbook for insight into how claims trends will unfold.

While battling a large fire aboard a cargo ship at Blount Island, the Jacksonville Fire and Rescue Department said an explosion occurred, injuring firefighters. According to Fire Chief Keith Powers, eight firefighters were injured in the explosion, and an additional firefighter was treated for heat exhaustion.

My purpose today is to add some clarity and remind readers that, when it comes to most of the insurance products we sell, there is little, if any, insurance coverage response. But first, let’s take a look at what a GMO is, how long they have been around, and what they mean for agriculture and the food on your table.

Crypto.com has secured a $100 million direct insurance policy provided by Arch Underwriting at Lloyd’s Syndicate 2012. Per a May 11 announcement, the new policy brings Crypto.com’s total coverage to $360 million — with the firm claiming to now have the largest insurance coverage within the entire cryptocurrency sector.

Crypto.com has gathered a record-breaking $360 million worth of insurance to cover the potential loss of coins stored in special offline vaults. Announced Monday, the crypto finance platform accessed the cover through institutional custody provider Ledger Vault, which offers $150 million of pooled insurance cover to clients via insurance broker Marsh, and Lloyd’s of London underwriter Arch Insurance.

In an attempt to avoid paying high premiums, electric automobile manufacturer Tesla announced that it would forgo directors and officers liability insurance (D&O) this year, opting to rely on CEO Elon Musk to pay for legal defense.

Like many industries, cannabis-related companies in the United States haven’t been left untouched by the fallout from the coronavirus. On the bright side, demand for cannabis products swelled in the initial weeks following government-mandated lockdowns.

A product liability claim presents some of the highest dollar loss potential for cannabis companies, according to Chris Boden, cannabis practice group team leader at the California-based wholesale insurance broker, Crouse and Associates Insurance Services. It’s one of the most severe exposures cannabis companies face, and yet not all businesses purchase product liability insurance coverage.

Gov. Brian Kemp has used his emergency powers to protect Georgia’s strained hospitals and medical workers from lawsuits related to the care they provide during the coronavirus pandemic.

On March 18, 2020, a bipartisan group of U.S. House members asked the insurance industry to retroactively recognize financial losses relating to COVID-19 as covered claims under commercial property insurance policies that either explicitly or implicitly do not provide such coverage.

One may not need to be able to read the cannabis leaves to divine the impact of the COVID-19 pandemic on cannabis and insurance. Some good guesses from any insurance professional with their foot in the door of a dispensary, farm, lab, or distribution facility, might go along the lines of: Vaping will be tougher to insure, reinsurance will be harder to find, expect even more exclusions in policies, greater capacity.