Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Steinhoff International’s Insurers Agree to Pay $93 Million for Directors’ Liability Claims
Mar 23 2021 // Most of the insurers that provided Steinhoff International Holdings NV with director-liability policies have agreed to pay as much as 78.1 million euros ($93 million) toward legal settlements resulting from a 2017...
Insurance Technology: InsurTech NY Winners; $3M in GloveBox; Hippo’s Claims Partners; AXIS-Elpha Cyber Service
Mar 22 2021 // The Winners Are InsurTech NY announced the winners of its 2021 Early-Stage InsurTech Competition at the InsurTech Spring Conference on March 10. The winners received prizes worth $200K in total. Winners were selected by...
Greensill Capital Creditors, Led by Softbank, Submit More Than $1.4 Billion in Claims
Mar 19 2021 // SYDNEY – Thirty-four creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, submitted over A$1.75 billion ($1.35 billion) in claims to the company, administrators said...
Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims
Mar 11 2021 // Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the...
FEMA: 87% of Federal Flood Claims from Hurricane Laura Closed in Louisiana
Mar 5 2021 // The majority of National Flood Insurance Program claims in Louisiana stemming from Hurricane Laura, which hit the state in August 2020, have been closed. FEMA says the NFIP has closed 87% of the 1,227 claims submitted and...
Security First Insurance of Florida Appoints Nationwide’s Moraski as VP of Claims
Mar 3 2021 // Florida-based homeowners insurance provider Security First Insurance has appointed Greg Moraski as vice president of Claims. Moraski will oversee the company’s claims department, which includes specialized areas such...
S. Africa’s Steinhoff in Talks with D&O Insurers to Help Settle Accounting Crisis Claims
Mar 1 2021 // Steinhoff International Holdings NV is in talks with the providers of director liability insurance policies about help settling legal claims resulting from a 2017 accounting crisis that took the South African retailer to...
Suit Claims Sidewalk Caused Man’s Death in Washington
Mar 1 2021 // A Clark County, Wash., woman has filed a lawsuit against the city of Vancouver claiming that poor sidewalk maintenance contributed to her brother’s death more than a year ago. According to the suit, filed in Clark...
Irish Insurer FBD More Than Doubles Money Set Aside for Lockdown-Related Claims
Feb 26 2021 // DUBLIN – Irish insurer FBD more than doubled the money set aside to cover lockdown-linked claims to 65 million euros ($79 million) after it lost a test case brought by four publicans over a policy that included...
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B
Feb 25 2021 // Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year. The reinsurer’s Q4 2020 profit dropped to €212...
Glatfelter Insurance Appoints Murray as President of Claims Management Business
Feb 25 2021 // Glatfelter Insurance Group (GIG), an American International Group Inc. (AIG) company, has appointed Conor Murray as president of Glatfelter Claims Management (GCM), effective February 8, 2021. He will report directly to...
AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion
Feb 25 2021 // AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in full-year 2019. The combined ratio for AXA’s P/C business increased 3.2 points to 99.5%,...
Workers’ Compensation and COVID: More Data on Evolving Claims
Feb 25 2021 // Workers’ compensation insurers aren’t getting the large aggregate volumes of COVID-related claims projected during the early months of the pandemic, but different data sources give varying readouts on...
Over $115M in Federal Flood Claims Paid in Louisiana After 2020 Hurricanes
Feb 22 2021 // As of Feb. 1, the National Flood Insurance Program (NFIP) had paid out more than $115 million in flood claims in Louisiana in response to the 2020 hurricane season. That figure is up from the $110 million in NFIP payments...
Sovereign Claims Appoints Humphreys, Conolly to its Executive Team
Feb 19 2021 // Sovereign Claims LLC, an insurance risk management consultancy serving underwriters in the real estate development, general contracting and construction industries, has appointed John Humphreys and Neal Conolly to its...
Insurers Expect ‘Hundreds of Thousands’ of Claims from Texas Storm
Feb 19 2021 // U.S. property insurers are bracing for claims for damage from collapsing roofs, bursting pipes and lost business as Texas takes stock of its losses from a winter storm that has crippled its electrical grid. Insurers’...
Diocese in Minnesota Diocese Settles Abuse Claims for $21.5M
Feb 12 2021 // The Diocese of Winona-Rochester in Minnesota says it has reached a $21.5 million settlement with 145 individuals who were sexually abused by its clergy members. It’s the last Catholic diocese in the state to settle...
Investors Eye Windfall From Denied COVID-19 Insurance Claims
Feb 12 2021 // A growing market niche where investors profit from others’ legal troubles is getting a boost from Covid. Distressed-investing funds and litigation-finance boutiques are likely to be spoiled for choice after a...
Irish Regulator Presses Insurers to Pay COVID-19 Claims Following Court Ruling
Feb 12 2021 // Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the...
Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims
Feb 12 2021 // Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year...
