Tag: Zurich American

Hotel owner in Las Vegas Strip mass shooting sues its insurance company

Nordstrom
Las Vegas Strip Mass Shooting - Image of Las Vegas Strip

MGM Resorts International is faced with extensive damage claims from over 4,000 people. As MGM Resorts International copes with damage claims from more than 4,000 people due to the Las Vegas Strip mass shooting, its owner has sued its insurance company. The owner claims that its insurer has not paid the legal costs as promised. Thousands of lawsuits seek damages after a terrifying and heartbreaking shooting that left 58 people dead. MGM Resorts alleges that its insurance company has breached its contract regarding payments for the legal costs relating to…

Read More

Disability insurance refunds coming to New York

Logan B.
Disability Insurance

New York acquires refunds for disability insurance policies New York Governor Andrew Cuomo has announced that Zurich American, a leading insurance firm, will be providing refunds to disability insurance policyholders throughout the state. The refunds come due to Zurich running afoul of a state regulation that requires the insurer to pay no less than 60% of the premiums it collects on claims. Zurich was unable to meet this standard and will begin issuing refunds on disability insurance policies over the next month or so. Refunds signify strong regulatory action Governor…

Read More

2012 will begin a massive expansion in cyber attack insurance

Julie Campbell

This year, the world watched as many corporations – even those that are reputed to have the strongest security systems in place – experienced massive data breaches that were so extensive that their final damage total has yet to be calculated. For example, Sony experienced a tremendous breach to the personal account data stored within its network, and has yet to determine precisely how much the cyber attack has cost the company. The most recently published total was that 100 million customer accounts had been compromised, and that they predict…

Read More