exposure News

Ship Insurers to Cancel War Cover for Russia, Ukraine from Jan. 1

LONDON —Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with …

Viewpoint: Settlement Strategies for Workers’ Compensation Claims

Knowing how to effectively negotiate and settle cases is essential when handling workers compensation claims. To do this well, you need to know how to prepare and execute an action plan for settlement. As defined in Webster’s Dictionary, “win” means …

Pipeline Blasts Leave Nord Stream in Insurance Limbo

LONDON –– With the mystery of the blasts that destroyed undersea gas pipelines between Russia and Germany unsolved, Nord Stream 1’s insurers and reinsurers are grappling with how to respond to hundreds of millions of dollars in potential claims. Munich …

$275 Million Verdict for Toxic Exposures at Washington School

MONROE, Wash. (AP) — A jury in King County has awarded $275 million to ten students and parents who say they suffered serious neurological injuries from chemical exposure at a school northeast of Seattle. The lawsuit against 3 is the …

EPA: ‘Forever Chemicals’ Pose Risk Even at Very Low Levels

WASHINGTON (AP) — The Environmental Protection Agency is warning that two nonstick and stain-resistant compounds found in drinking water are more dangerous than previously thought and pose health risks even at levels so low they cannot currently be detected. The …

PFAS, Microplastics, Baby Food: Emerging Casualty Risks Keep Coming

There is no longer a need to ponder the “next asbestos” because the current litigation environment and the recent pace of additions to the list of emerging risks and trends in casualty insurance is enough to keep the industry on …

Bayer Reaches $80M PCB Contamination Settlement With Ohio

Bayer AG reached an $80 million settlement with Ohio to resolve environmental damage allegedly caused by polychlorinated biphenyls, or PCBs, made by the company’s Monsanto business, the state attorney general said on Thursday. The funds from the German company, which …

Bayer Wins Second Straight Verdict in a Roundup Cancer Case

A California jury found that Bayer’s Roundup weedkiller was not the cause of a woman’s non-Hodgkin’s lymphoma, Bayer said on Thursday, delivering the chemical giant its second trial victory over claims the popular herbicide causes cancer. The jury in San …

Lawsuit Targets Georgia Plant Over Ethylene Oxide Releases

AUGUSTA, Ga. (AP) — An Augusta company that uses ethylene oxide to sterilize medical instruments is being sued by residents, the latest such suit in Georgia. The Augusta Chronicle reports the lawsuit by 20 current and former Augusta residents claims …

EU Watchdog Says Insurers Could Face Climate Tests in 2023

Insurers could face European climate stress tests as soon as 2023, the head of the EU’s insurance regulator said at the Reuters Future of Insurance Europe conference on Thursday. The insurance industry faces exposure to climate change risk both through …