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PFAS Liability for Water District Remediation Costs Estimated Up to $175B
Insurance Journal | August 1, 2024
PFAS Liability for Water District Remediation Costs Estimated Up to $175B
Economic liability associated with the remediation of perfluoroalkyl and polyfluoroalkyl substances (PFAS) in U.S. water districts is estimated to be between $120 billion and $175 billion, according to global consulting and actuarial firm Milliman Inc. PFAS are often referred to …
Claim on Seized Hemp Shipment Barred, Showing Trickiness of Coverage
Insurance Journal | August 1, 2024
Claim on Seized Hemp Shipment Barred, Showing Trickiness of Coverage
International treaties preempt state-based legal actions, giving an air transport company a escape from claims on what a hemp producer said was botched paperwork for an overseas hemp shipment, a federal appeals court said. The ruling by the U.S. 4th …
Are Captives the Answer for Uninsured HOAs? Utah Opens Door
Insurance Journal | August 1, 2024
Are Captives the Answer for Uninsured HOAs? Utah Opens Door
When actuary Greg Fears attended a Western Region Captive Insurance Conference in April, he expected to learn and share information about emerging uses of captives for commercial risks, including trucking captives—a recent focus of his attention. But during the last …
CrowdStrike Is Sued by Shareholders Over Huge Software Outage
Insurance Journal | July 31, 2024
CrowdStrike Is Sued by Shareholders Over Huge Software Outage
CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. In a proposed class action filed …
AIG’s Repositioning Affects Q2 Earnings; Underlying Underwriting Income Up 2%
Insurance Journal | July 31, 2024
AIG’s Repositioning Affects Q2 Earnings; Underlying Underwriting Income Up 2%
The formal split of its life and retirement business Corebridge Financial resulted in a second quarter net loss of nearly $4 billion for American International Group (AIG). The deconsolidation and divestitures from last year affected AIG’s general insurance underwriting income, …
Report: 1Q 2024 California Workers’ Comp Written Premium 3% Lower Than Year Ago
Insurance Journal | July 31, 2024
Report: 1Q 2024 California Workers’ Comp Written Premium 3% Lower Than Year Ago
Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released its …
Landslides in Southern India Kill at Least 93 With Many More Trapped
Insurance Journal | July 31, 2024
Landslides in Southern India Kill at Least 93 With Many More Trapped
NEW DELHI (AP) — Multiple landslides in southern India have killed 93 people and many others are feared trapped under the debris, officials said Tuesday, after torrential rains triggered torrents of mud and water that swept through tea estates and …
Delta Air Lines to Seek Compensation Over Cyber Outage: Report
Insurance Journal | July 30, 2024
Delta Air Lines to Seek Compensation Over Cyber Outage: Report
Delta Air Lines has hired a law firm and will seek compensation from Microsoft and CrowdStrike over a global cyber outage earlier this month that disrupted flights around the world, CNBC reported on Monday. The Atlanta-based airline has been the …
Vermont Again Dealing With Floodwaters
Insurance Journal | July 30, 2024
Vermont Again Dealing With Floodwaters
Northern Vermont today is dealing with flash floods and washed-out roads after a night and early morning of extreme rainfall. Parts of Caledonia county and the Northeast Kingdom received 6-8 inches of rain last night and saw considerable catastrophic flash …
Higginbotham Exec Marc Spivey Cheers on Daughter Competing in 2024 Olympics
Insurance Journal | July 30, 2024
Higginbotham Exec Marc Spivey Cheers on Daughter Competing in 2024 Olympics
Clients who try to reach Higginbotham executive Marc Spivey this week will be met with an unusual out of office message. Greetings! I am in Paris to cheer on my daughter Taylor who is competing in the 2024 Olympics. … …