CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. In a proposed class action filed …
Software company Pegasystems convinced a Virginia appeals court on Tuesday to throw out a $2 billion jury verdict for rival Appian in a court battle over Pegasystems’ alleged theft of Appian’s trade secrets. The award from 2022 had been the …
A Colorado man who aided a former insurance claims adjuster in an auto insurance claims scheme was sentenced this week. In 2020, Brassfield, 55, of Aurora, reportedly aided former Travelers Insurance employee Colette Palin, 63, of Aurora in committing fraud. …
Giant plumes of Sahara Desert dust that gust across the Atlantic can suppress hurricane formation over the ocean and affect weather in North America, according to findings of a newly released study by Stanford University. The thick dust clouds can …
When actuary Greg Fears attended a Western Region Captive Insurance Conference in April, he expected to learn and share information about emerging uses of captives for commercial risks, including trucking captives—a recent focus of his attention. But during the last …
Summer heat is expected to last well into autumn across much of America, bringing an increased risk of wildfires and severe weather—especially in the Western U.S. and California. Much of the nation will experience a delayed transition to cooler temperatures …
Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70% above the 10-year average — as extreme wildfires, droughts and floods upend historical norms. The data, which were compiled by Munich Re, …
Amazon.com is responsible for hazardous products sold by third-party sellers on its platform under the federal safety law and bears legal responsibility for their recall, the U.S. Consumer Product Safety Commission said on Tuesday. The CPSC said it has issued …
The Park Fire near Chico, California, at 609 square miles is now the fifth largest wildfire in history, destroying 277 structures and damaging 29, according to CalFire. The fire covers four counties—Butte, Plumas, Shasta, Tehama—and is 389,791 acres. The fire …
Most losses from the CrowdStrike outage will be business interruption, a primary contributor to losses from cyber incidents—and because the losses were not caused by a cyberattack, claims will be made under “systems failure” coverage, according to a new report …