Tag: damages

Regulatory / Legal

Courts surprisingly affirm insurance coverage to defend against economic loss

January 30, 2024

Via: JD Supra

For parties facing class action lawsuits, where the class seeks to recover for economic losses, there may still be opportunities for insurance coverage. Thus, where economic losses arise out of the purchase of products that have the potential for causing […]

Risk Management, Trends

Parametric insurance a valuable addition to climate risk management landscape: WRMS

January 25, 2024

Via: Reinsurance News

Parametric insurance is said to be significantly disrupting and complementing traditional insurance models across the climate industry, by offering innovative solutions that address the shortcomings of conventional approaches. In the face of climate-related risks, assessing and quantifying damages accurately can […]

Regulatory / Legal

Washington Asks Insurers to Expedite Approval Process for Debris Removal After Wildfires

October 2, 2023

Via: Insurance Journal

Washington Insurance Commissioner Mike Kreidler sent a letter asking insurance companies and adjusters working with communities impacted by the Gray and Oregon Road fires to expedite the approval process for debris removal. Speeding up the process will help assure people […]

Regulatory / Legal

California Issues 1-Year Moratorium on Homeowner Insurance Cancellations And Non-Renewals

September 20, 2021

Via: Insurance Journal

California Insurance Commissioner Ricardo Lara on Monday ordered insurance companies to preserve residential insurance coverage for more than 325,000 policyholders who have been affected by Northern California wildfires across 22 counties. Lara in early September issued similar orders following emergency […]