Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday. A software bug in cyber security firm CrowdStrike’s quality-control system caused the software update …
In recent years, cities worldwide have faced an alarming increase in the frequency and severity of flood events. These catastrophes have left urban areas grappling with extensive damage to infrastructure, buildings and equipment. As communities strive to recover from flood …
A wildfire that started Wednesday near Chico, California grew quickly to 45,549 acres overnight to become the state’s largest active blaze. Evacuation orders and warnings were issued, but the number of residents affected or properties damaged or destroyed has yet …
Boeing Co. has completed an agreement with the US government to plead guilty to criminal conspiracy in connection with two fatal crashes of its 737 Max jetliner, setting the stage for a possible courtroom confrontation with relatives of those who …
The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber insurance policies …
CrowdStrike Holdings Inc., the cybersecurity company at the center of massive global IT outages, said that a bug in a quality-assurance tool the company uses to check updates for mistakes allowed flawed data to go out to customers, causing last …
A growing homeowners insurance crisis for Californians is straining brokers who must work harder to get increasingly expensive and more frequently unavailable coverage for their clients, a crisis many of them blame on regulations and wildfires. Wildfires have made the …
Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Florida insurance agents are now …
U.S. severe convective storms continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, SCS accounted for a minimum $37 billion – or 61% …
The law firms leading class-action litigation against PacifiCorp over the 2020 Labor Day weekend wildfires in Oregon want to examine whether the utility owned by Warren Buffett’s Berkshire Hathaway is colluding with other law firms to reach lowball settlements with …