Insurance
$18M Settlement in Lawsuit over Boy’s Death at California School
The parents of an 8-year-old boy with Down syndrome who died after falling while strapped to a chair in class five years ago have reached an $18 million settlement in their wrongful death lawsuit against a Southern California school district, …
Read More Florida Utility Says New Drone Can Speed Hurricane Recovery
Florida’s primary energy provider is ready to launch a powerful new technology, just ahead of the busiest weeks of the Atlantic hurricane season: a new fixed-wing drone designed fly into tropical storm force winds and speed the restoration of electricity …
Read More Allstate Executives Shuffle With Retirement of Property-Liability President
Allstate announced August 18 that Glenn Shapiro, president, Property-Liability, has decided to retire at the end of September. He joined Allstate as chief claims officer in 2016 and has held his current position since 2018. Current chief financial officer Mario …
Read More Virginia Firefighter on Scene With Crew Charged with Setting Fire to Building
A Virginia volunteer firefighter charged with setting fire to an abandoned building was with the first crew to arrive on the scene, an investigator said Monday. Firefighters from several departments responded to a report of a structure fire Friday night …
Read More Insured Losses From February’s European Windstorms Estimated at €3.7B: PERILS
Insured losses for the European windstorm series, which affected the British Isles and continental Europe in February 2022, are estimated at €3.739 billion (US$3.8 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The windstorm …
Read More Heavy Rain Continues to Flood New Zealand, Forcing Evacuations
WELLINGTON, New Zealand (AP) – Heavy rain continued to pelt New Zealand on Thursday, causing further disruptions and road closures from a storm that has already forced hundreds of people to evacuate their homes. Residents in the northern part of …
Read More China Sentences Tycoon Xiao to 13 Years, Fines His Financial Services Group $8.1 Billion
A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings …
Read More U.S. Businesses in Taiwan See Limited Impact From Tensions With China
Most members surveyed by the American Chamber of Commerce in Taiwan said they had not been significantly affected by recent Chinese military drills around the island, but had heightened concerns, the group said on Friday. China, which claims Taiwan as …
Read More Viewpoint: Can Intelligent Automation Ensure the Survival of the Insurance Industry?
The economic viability of the insurance industry’s current business model has been in question for several years. McKinsey’s 2022 Global Insurance Report shows that 52% of the industry’s global equity had a return on equity (ROE) lower than their cost …
Read More Technology Delivering New Data Sources for Claims Investigations
The driver of the 2021 Toyota Sienna said he crashed because another car bumped the rear of his vehicle while passing on the right, causing him to lose control. It was the wrong car for lying about the cause of …
Read More