National News

Ralph Lauren Sues to Recoup COVID-19 Closure Losses

Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of two-thirds of its revenues in the first quarter alone due to the pandemic. Ralph Lauren Corp. (RLC) maintains that Factory …

Inspector General To Audit U.S. Oversight of Auto Safety Standards

WASHINGTON — The Transportation Department’s Office of Inspector General said on Tuesday it would audit oversight of U.S. vehicle safety standards, noting that more than 36,000 Americans were killed in traffic accidents in 2019. The inspector general’s office said it …

Apax-Backed Insurance Software Firm Duck Creek Raises IPO Price Range

Duck Creek Technologies Inc, a software company that serves the property and casualty (P&C) insurance market, on Wednesday raised the price range for its initial public offering (IPO) and expects to raise about $375 million. Boston-based Duck Creek, which is …

Insurers’ Coronavirus Costs Are Less Than Feared So Far

The coronavirus pandemic dealt a relatively modest $2.5 billion blow to five insurers with large U.S. operations in the second quarter — a cost that was far less than feared and which the industry has absorbed without touching capital, analysts …

Webinar Counters Insurer Warnings About COVID-19 Impact on Work Comp Profits

A well-known workers’ comp number cruncher and an actuary are calling Chicken Little on insurance industry warnings about the cost of COVID-19 claims. Health Strategy Associates owner Joe Paduda and Bickmore Actuarial principal Mark Priven dispute assertions by Moody’s, the …

Directors’ Liability Insurance Rates Surge on Virus Litigation Fears

LONDON — Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters fear the coronavirus pandemic will lead to hefty litigation claims. Premiums for directors’ liability insurance, known as D&O, …

Google Turns Android Phones Into Earthquake Sensors; California to Get Alerts

OAKLAND, Calif. — Alphabet Inc’s Google’s Android phones on Tuesday started detecting earthquakes around the world to provide data that could eventually give billions of users precious seconds of warning of a tremor nearby, with an alerting feature first rolling …

McDonald’s Sues Ousted CEO, Alleging Employee Relationships

McDonald’s says it’s suing Stephen Easterbrook, the CEO it ousted last year over an inappropriate relationship with an employee, alleging Monday that he covered up relationships with three other employees and destroyed evidence. The company now wants to reclaim hundreds …

Claims Shops Deploy Remote Adjusting For Storm Damages Expected to Top $4B

With insured losses projected to reach $4.2 billion, Hurricane Isaias’ rampage from the Caribbean to Canada was the first significant event from a claims perspective since Hurricane Irma struck Florida in 2017, a claims executive for Crawford & Co. said …

Hurricane Alpha? Amped Up Season Forecast, Names May Run Out

Already smashing records, this year’s hyperactive Atlantic hurricane season is about to get even nastier, forecasters predict. In the coming months, they expect to run out of traditional hurricane names and see about twice as much storm activity as a …

National News Archives by Month