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   Reinsurance News Excess & Surplus Lines

The National Transportation Safety Board and Federal Aviation Administration are investigating a tour helicopter crash on a remote Hawaii Island lava field that sent the pilot and five passengers to the hospital on Wednesday.
  June 9   Hawaii News Now Excess & Surplus Lines Liability Hawaii

For nearly 50 years, the state has purchased catastrophic wildfire insurance coverage from Lloyd’s of London. It’s the only state with such a policy, and the Oregon Department of Forestry says in the last decade alone, Oregon has filed twice as much in claims as the cost of the premiums.
  June 8   OPB Excess & Surplus Lines

School may be out for summer, but CLM’s Claims College is right around the corner. Taking place Sept. 7-10, 2022 in Baltimore, Claims College can help you meet your professional goals while helping you establish great connections and relationships within your cohort.
  June 2   CLM Magazine Education & Training Excess & Surplus Lines Liability Litigation Property

Cargo theft costs are rising in the U.S. as higher-value goods such as vehicles and electronics are targeted, and as inflation pushes up the cost of goods.
  May 31   Business Insurance Excess & Surplus Lines Liability

NotPetya malware first cropped up on computers worldwide in June 2017, setting the stage for today’s ransomware attacks and ultimately causing $10 billion in damages globally.
  May 19   Risk & Insurance Excess & Surplus Lines Litigation

Aircraft lessors are filing claims for payouts, but insurers don’t agree that coverage extends that far. When Russia invaded Ukraine, it threw a number of markets into turmoil, and in the case of the aircraft market, it has also led to a tremendous insurance battle.
  May 5   Live Insurance News Excess & Surplus Lines

A recent study by IBM and the Ponemon Institute quantifies the rising cost of data breaches as workers moved to remote environments during the coronavirus pandemic. According to the report, an average data breach in 2021 cost $4.24 million – up from $3.86 million in 2020. However, where remote work was a factor in causing the breach, the cost increased by $1.07 million.
  April 27   The Triple-I Blog Excess & Surplus Lines Fraud Liability Technology

In United States Automatic Sprinkler Corp. v. Erie Ins. Exch., et al., No. 21A-CT-580, 2022 Ind. App. LEXIS 87 (Automatic Sprinkler), the Court of Appeals of Indiana (Court of Appeals) considered whether there is a privity requirement for property damage claims against contractors. The court imposed a privity requirement.
  April 25   JD Supra Excess & Surplus Lines Subrogation Indiana

The United States has linked North Korean hackers to the theft of hundreds of millions of dollars’ worth of cryptocurrency tied to the popular online game Axie Infinity, the U.S. Treasury Department said on Thursday.
  April 18   Reuters Excess & Surplus Lines Fraud

The insurance and reinsurance industry loss from the conflict in Ukraine could exceed US $20 billion, according to Verisk-owned specialist claims and loss data unit PCS.
  April 18   Reinsurance News Catastrophe Excess & Surplus Lines Insurance Industry Marine Property

Winter Storm Uri rolled into Texas like nothing the state had ever seen before. Unprepared for such a freeze, the power grid shutdown.
  April 18   Risk & Insurance Catastrophe Excess & Surplus Lines Litigation Property Texas

Lloyd’s of London has announced that it is working with the government of the United Kingdom for the implementation of sanctions against Russian firms due to the war in Ukraine, including cancelling their insurance policies.
  April 1   Live Insurance News Excess & Surplus Lines Insurance Industry Marine

Last week, Russian President Vladimir Putin, with a stroke of his pen, upended the entire aviation industry in one fell swoop. After Bermuda suspended all airworthiness certificates for Russian-operated aircraft on its registry to comply with sanctions against Russia, Putin signed a law to allow regional and national airlines that leased aircraft from foreign companies to list on Russia’s registry and ‘to ensure the uninterrupted functioning of activities in the field of civil aviation.’
  March 28   Flying Excess & Surplus Lines Liability

In the late 1980s, Qualcomm Inc. made a revolutionary change by developing two-way mobile satellite communications and vehicle tracking for the commercial trucking industry. For the first time, a fleet manager could pinpoint the location of one of his assets in real time and communicate with its driver.
  March 17   CLM Magazine Excess & Surplus Lines Technology

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