A jury in the northwestern U.S. state of Oregon on Monday found the electric utility PacifiCorp responsible for causing devastating fires during Labor Day weekend in 2020, ordering the company to pay tens of millions of dollars to 17 homeowners who sued and finding it liable for broader damages that could push the total award into the billions.
Over 90 firefighters responded to the scene of a massive fire at a construction site in Charlotte, North Carolina, Thursday morning and braved devastating conditions to rescue workers who were caught in the blaze.
A New Jersey appeals court ruled last week that an exclusion for ‘hostile/warlike action’ in insurance policies covering "all risks" didn’t bar a pharmaceutical company’s claim for damages in a cyberattack.
In a recent decision from the United States District Court for the Middle District of Florida, Tampa Division, styled KT State & Lemon, LLP et al. v. Westchester Fire Ins. Co. et al., the Court granted summary judgment to the Plaintiffs and held that a series of leaks occurring over a three-month period constituted a single ‘occurrence’ under a specific Builder’s Risk Policy.
Well, it looks like SpaceX’s Starship had a bit of a rough day. You know that feeling when you’re super excited for a big trip and then your car explodes just a few minutes after leaving the driveway? Yeah, that’s pretty much what happened here.
Almost a third (30%) of all IT and security professionals whose firms suffered a data breach did not publicly disclose the event, but rather decided to sweep it under the rug.
There were 1,778 ‘supply-chain risk events’ across the United States and Canada in 2022, an increase of 15% from 2021, according to CargoNet, a commercial theft-prevention and recovery service.
This year expects to see challenges in the housing market, construction industry, and claims. The headwinds are plenty: higher interest rates for construction loans, rising labor and material costs, slowing demand from homebuyers squeezed by more expensive mortgages, and fears of a looming recession as cities continue to recover from the pandemic.
Butler County Judge Noah Powers designated this week the lawsuit against Spooky Nook Sports Champion Mill and its owner, a subcontractor, and multiple insurance companies as ‘complex litigation.’
Ohio filed a lawsuit against railroad Norfolk Southern to make sure it pays for the cleanup and environmental damage caused by a fiery train derailment on the Ohio-Pennsylvania border last month, the state’s attorney general said Tuesday.
Louisiana Republican gubernatorial candidate Sen. Sharon Hewitt is promising to shut down all coastal litigation involving alleged damage from energy companies.
Residents of East Palestine in northeast Ohio have been asked to evacuate, as officials fear the cars of a train that derailed nearby might explode or release toxic gases.
With interest rates on the rise, sticky inflation, few signs of a cooling labor market, and continued instability in Russia, China and beyond affecting energy prices and exports, the builder’s risk insurance industry is in store for more complex claims in 2023.
The insurance industry may turn its back on the renewable energy sector if it endures another year of unprecedented natural catastrophe losses like 2022.
Hurricane Lisa’s landfall in Belize on November 2 triggered a parametric insurance policy that quickly provides funds to repair storm damage to the world’s second-largest barrier reef system.
