Industry News
The U.S. domestic cyber insurance market has nearly tripled in size since 2020, with endorsement policies accounting for the largest share of policy counts relative to premium. The observations come from a new report generated by the National Association of …
Via: Claims Journal
Toyota is recalling 228,367 vehicles in the US over seat backs that may fail to stay secured in a crash, the U.S. National Highway Traffic Safety Administration said on Tuesday. Related: Toyota Recalling 105,800 US Vehicles Over Fire Risk Here …
Via: Claims Journal
Florida is suing the climate-risk modeling firm First Street Technology Inc., accusing it of penalizing state homeowners with risk scores based on flawed science. Filed Oct. 23, the lawsuit highlights growing pushback against the scores, which are intended to give …
Via: Claims Journal
Hackers targeting a currency trading platform claimed to have published customer information after failing to receive a $50 million ransom, adding to a wave of cyberattacks in Japan that have prompted the government to draw up emergency measures. GMO Internet …
Via: Claims Journal
Insurance software maker Guidewire said this week it would buy hyperexponential for $1.7 billion in cash and up to $400 million more if revenue targets are met, to expand into AI tools that help insurers assess price and risk. London-based …
Via: Claims Journal
Japanese electric motor maker Nidec said on Tuesday it had decided to sue founder Shigenobu Nagamori and eight other former executives for damages over suspected accounting irregularities that have put its stock market listing at risk. Besides Nagamori, the company …
Via: Claims Journal
Customer satisfaction with total loss auto insurance claims fell for a third straight year, while satisfaction improved for claims involving repairable vehicles, a new study looking at this year shows. Customer satisfaction with total loss claims fell 12 points on …
Via: Claims Journal
Tropical Cyclone Arnab is expected to hit India's east coast on Wednesday, marking a break in an otherwise calm season that's been subdued by a severe El Niño.
Via: Claims Journal
Look out, red and amber lights. Autonomous vehicles may soon bring another color to America’s roads. U.S. auto safety regulators proposed a new category of cyan exterior lamps to identify driverless vehicles to other road users. One or two of …
Via: Claims Journal
Bananas are in danger of becoming the next item in the grocery aisles to see price hikes, thanks in part to a powerful El Niño and war, says one of the top sellers of the fruit. “The industry is facing …
Via: Claims Journal