Claims Journal

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The results showed 355 significant dwelling claims ($10,000 in dwelling loss and $10,000 in personal property loss), and 244 had paid out 100% of their coverage for damage and 162 are still open and ongoing.

There were at least 280 notable global natural disaster events in the Q1-Q3 period. And losses from Hurricane Milton and other events in the rest of the calendar year will likely push total annual insured losses above those seen in 2023 ($125 billion), Aon said.

Is it Halloween yet? “An insured submitted a notice of claim where the claimant was visiting their cemetery and slipped on a rock. The individual fell down a hill and into an open gravesite, which was awaiting an imminent burial. The claimant was briefly trapped in the open gravesite and had to be helped out by nearby cemetery workers who were preparing the gravesite for a burial.”

Universal Insurance Holdings, parent of Universal Property & Casualty Insurance Co., considered Florida’s 3rd-largest with more than 570K policies in the state, said it incurred a $16.2 million net loss in Q3, writes Insurance Journal's William Rabb.

The owner and operator of the cargo ship that struck Baltimore’s Francis Scott Key Bridge in March, killing six people, have agreed to pay $102 million to the federal government, the U.S. Justice Department said on Thursday. https://lnkd.in/gip_mFf9

A former Avenue Capital Group employee accused by Marc Lasry in a recent court filing of trying to extort him for $50 million has hit back with a lawsuit of her own. https://lnkd.in/g2P-aVrt

Meta Platforms Inc., Google, TikTok and Snap will have to face lawsuits brought by school districts in federal court blaming their “addictive” apps for contributing to a mental health crisis among students. The ruling Thursday by US District Judge leaves the platforms potentially on the hook for damages in more than 150 cases before Rogers even as they’re poised to dodge liability for claims in more than 600 other cases filed in Los Angeles. https://lnkd.in/gH6pP8Hc

A Colorado man has filed what appears to be the first lawsuit against McDonald’s over an E. coli outbreak linked to Quarter Pounder burgers that has killed one person and sickened nearly 50 others. https://lnkd.in/gDvvTt6v

BHP Group and Vale SA have signed a 170 billion-real ($29.8 billion) settlement with Brazil over the deadly Mariana dam collapse in 2015 at their iron ore joint venture. https://lnkd.in/g9ZjudS2