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SCC: Review Coverage, Plan Now for Hurricanes and Other Disasters

HAMPTON ROADS — September is National Preparedness Month, an annual call to action to prepare for disasters and other emergencies that can happen anywhere and anytime. With almost three months to go in hurricane season, the State Corporation Commission’s Bureau of Insurance is urging...

Industrial sector faces tougher cyber insurance landscape with escalating premiums, coverage gaps

Filing cyber insurance claims has become a tough journey for many industrial organizations, especially because more policies now exclude coverage for attacks linked to nation-states or ‘war-like’ incidents. Take Lloyd’s of London, for instance; they mandated in 2023 that their policies won’t cover...

IMAX boss’ uninsurable because of drug use, ‘excessive’ drinking: Lawsuit

The boss of IMAX has allegedly been partying so hard, his ex-wife cannot get a $4.5 million life insurance policy on him. Richard Gelfond, who has helmed the larger-than-life, $1.57 billion movie theater company since 2009, has used cocaine and engaged in “excessive” drinking...

Collections on Overpaid Unemployment benefits to continue

LANSING, Mich. (WILX) - Workers who owe the Michigan Unemployment Insurance Agency for benefit overpayments will soon have to resume payments. The agency temporarily paused collections on benefit overpayments while a class-action lawsuit and settlement played out in court, and now it has...

Whiskey distillery wins coverage for barrel stack collapse

A distillery is entitled to coverage under its commercial insurance policy after its barrel racks collapsed, causing whiskey purportedly worth $2.5 million to leak, a federal judge ruled. In The Vale Fox Distillery LLC v. Central Mutual Insurance Co., the U.S. 2nd District Court...