Claims Journal

1 week ago | claimsjournal.com | Khuleko Siwele

A $361 million (6.5 billion rand) lawsuit has been lodged in a South African court by a Japanese insurance company for a claim arising from flood damages suffered in 2022 by Toyota Motors Corp.’s plant near Durban. The claim against Transnet SOC Ltd., the KwaZulu-Natal Department of Transport and eThekwini Municipality has been brought in the high court in Durban by Toyota South Africa Motors’ insurer, Tokio Marine & Nichido Fire Insurance, Business Day reported.

1 week ago | claimsjournal.com | Brian K. Sullivan

California utilities cut power to more than 62,000 customers across the state in an attempt to stop wildfires from starting as dry winds sweep the region. PG&E Corp. cut off power to around 60,000 customers scattered across seven counties and may shut off more if conditions deteriorate, according to its website. Meanwhile, Southern California Edison Co. de-energized lines to nearly 2,400 customers in three counties.

1 week ago | claimsjournal.com | Ezra Amacher

The first three months of 2025 brought devastating wildfires to California, significant wind and hail events to Texas, and substantial increases in activity to “Tornado Alley,” but claim volume fell to a five-year low, a quarterly property report from Verisk shows. The findings in Verisk’s “Quarterly Property Report January–March 2025” show that claims severity rose due to the California wildfires while property claims continued a downward trend that began in 2023.

1 week ago | claimsjournal.com | Michelle Chapman

Former NBA player Shaquille O’Neal will pay $1.8 million to settle a class action lawsuit related to the demise of cryptocurrency exchange FTX. O’Neal, and other celebrities like Tom Brady and Stephen Curry, were named in the lawsuit in 2022. They had been accused of touting FTX as a reputable and trustworthy investment option via paid endorsements. The proposed settlement only pertains to O’Neal.

1 week ago | claimsjournal.com | Ezra Amacher

A real estate investment firm isn’t covered for losses of rental income and soft costs over a delayed Missouri apartment construction project after the Eighth Circuit Court of Appeals determined the firm’s status as an “Additional Named Insured” doesn’t qualify for such losses. BCC Partners, LLC contracted with Ben F. Blanton Construction, Inc. to build a luxury apartment complex in Creve Coeur, a St. Louis suburb, in 2015.