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Expert Opinion: Conflicting Testimonies In Billionaire’s Lawsuit Over Fire-Damaged Artwork

Late on the night of September 28, 2018, a fire broke out at billionaire financier Ronald Perelman’s East Hampton estate, known as the Creeks. Multiple firefighting teams from neighboring towns raced in to assist and, after approximately two hours, finally extinguished the blaze.
October 31, 2022 Excess & Surplus Lines Litigation New York

Renewable Energy Sector Hit by Hail Losses

U.S. renewable energy insurers are expected to pay out more than $300 million in claims due to hailstorms in Texas this year, GCube Underwriting Ltd. said in a report Tuesday.
October 19, 2022 Excess & Surplus Lines Texas

Hackers Testing Data Destruction to Make Ransomware Attacks More Effective

Ransomware hackers are experimenting with a new kind of attack that, instead of encrypting data, outright destroys it. The aim is to make it impossible for victims to retrieve their data if they don’t pay the ransom.
September 28, 2022 Excess & Surplus Lines Fraud Technology

Shipbuilder’s COVID Insurance Lawsuit Revived by Vermont High Court

The Vermont Supreme Court revived a military shipbuilder’s lawsuit for insurance coverage of lost income and extra expenses incurred in dealing with the virus that causes COVID-19, becoming the first state high court to rule for the policyholder in such cases.
September 27, 2022 Excess & Surplus Lines Litigation Vermont

Lloyd’s of London Reserves $1.3B for Ukraine Claims

Lloyd’s of London (SOLYD.UL) has set aside 1.1 billion pounds ($1.26 billion) to pay claims related to the war in Ukraine, the commercial insurance market said on Thursday, as it recorded a first-half pre-tax loss of 1.8 billion pounds. The reserves for the Ukraine claims were net of reinsurance, Lloyd’s said in a statement.
September 14, 2022 Catastrophe Excess & Surplus Lines

AIG Sued by Aloha Petroleum in Climate Litigation Dispute

AIG’s National Union Fire Insurance Company has been sued by Sunoco subsidiary Aloha Petroleum for refusing to cover the costs of defending climate-related claims by local governments in Hawaii.
September 1, 2022 Excess & Surplus Lines Litigation Hawaii

Insurance Claim For Failed Measat-3 Satellite In Dispute

An insurance claim for a Malaysian satellite that ran out of fuel prematurely remains unsettled more than a year after the incident. Some underwriters are disputing Malaysian satellite operator Measat’s $45 million claim to recover losses from Measat-3, an insurance source said, while others have agreed to pay out.
August 8, 2022 Excess & Surplus Lines

Crypto Risks Prompt Uptick In Insurance Exclusions

As the crypto market crashes, some insurance companies are stepping up efforts to exclude coverage for crypto-related risks under a range of insurance policies. But because crypto is still new, insurers are having a hard time defining and pricing the risk.
August 5, 2022 Excess & Surplus Lines Liability Property

Paramount, Insurer Settle Over ‘Mission: Impossible 7’ Delays Claims

Paramount has reached a confidential settlement with Chubb, its insurer, over claims arising from repeated COVID-19 production delays on ‘Mission: Impossible 7.’ The studio sued in August 2021, alleging that the insurer was trying to limit its losses to just $1 million.
August 1, 2022 Excess & Surplus Lines Liability Litigation

Owner, Insurer In Court Over Collapsed Bristol Hotel

After a construction project along Volunteer Parkway in Bristol partially collapsed in late 2020, the project’s owner and insuring agency are at odds due to a disputed payout that could total in the millions of dollars.
July 27, 2022 Excess & Surplus Lines Liability Tennessee

Ready To Take The Plunge?

Are you a lifelong learner looking for a claims professional designation? Do you need professional development engagement? Are you ready to take the next step in your claims career?
July 7, 2022 Education & Training Excess & Surplus Lines Liability Property Workers' Compensation

Hackers Offer Data On 1B Chinese After Alleged Leak

Hackers claim to have obtained a trove of data on 1 billion Chinese from a Shanghai police database in a leak that, if confirmed, could be one of the largest data breaches in history.
July 6, 2022 Excess & Surplus Lines Liability

NTSB Investigates Missouri Amtrak Crash; Locals Warned Of Dangerous Crossing

Several cars of an Amtrak train traveling from Los Angeles to Chicago derailed Monday afternoon after it struck a dump truck at a crossing in northern Missouri, Amtrak announced. More than 200 people were on board the train at the time of the crash, which was first reported about 12:43 p.m. near Mendon, Missouri, according to the Missouri State Highway Patrol.
June 28, 2022 Excess & Surplus Lines Liability Subrogation Workers' Compensation Missouri

See You In San Diego: CLM’s 2022 Construction Conference

We’re heading back west for CLM’s 2022 Construction Conference, and there is a lot to talk about. This year’s location -- San Diego’s Coronado Island -- promises a one-of-a-kind experience that’s equal parts serenity and excitement.
June 27, 2022 Education & Training Excess & Surplus Lines Insurance Industry

Planes Stranded In Russia Could Lead To Industry Losses Topping 9/11

The aggregate value of planes stuck on Russian territory following the nation’s invasion of Ukraine could even surpass the claims stemming from 9/11, according to a new note from WTW.
June 21, 2022 Excess & Surplus Lines
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