Air-bag manufacturer Takata pursues bankruptcy protection | Commentary: Fidget spinners can have liability implications | Broker, wholesaler to provide low-value home insurance in Ala.
June 26, 2017
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Air-bag manufacturer Takata pursues bankruptcy protection
Takata's bankruptcy-protection filing in Delaware shows more than $10 billion in liabilities as the company faces lawsuits related to its air-bag inflators, which have been connected to more than a dozen deaths and have seen a widespread recall. The company is seeking creditor protection in Japan as well.
Bloomberg (6/26),  Reuters (6/23) 
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Industry News
Commentary: Fidget spinners can have liability implications
Fidget spinners are toys originally designed for children with anxiety, attention-deficit/hyperactivity disorder or autism, but the products have become a fad, and they can carry product-liability implications, Karen Sorrell writes. The Consumer Product Safety Commission is investigating fidget spinners amid claims that the products pose a choking hazard and can cause injuries.
PropertyCasualty360 (6/23) 
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Broker, wholesaler to provide low-value home insurance in Ala.
A partnership between surplus-lines broker London Underwriters and wholesaler Trigon is designed to introduce a low-value insurance product in Alabama with minimum dwelling coverage as low as $25,000.
Insurance Journal (6/26) 
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How does your telematics program compare?
The State of Insurance Telematics explores the state of US insurance telematics adoption, focusing on the challenges insurers face, both internally and externally, in getting a telematics program to market. This paper also provides information on the benefits derived from telematics.
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Catastrophic Risk
Wildfires lead to evacuations in Utah and Calif.
About 1,000 firefighters are working to quell a Utah wildfire that is about 10% contained and has resulted in the evacuation of about 1,500 people. Meanwhile, a wildfire in Southern California that was about 70% contained on Sunday evening has also led to some evacuations.
The Associated Press (6/26) 
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Pacific tropical cyclone Dora could reach hurricane strength
The National Hurricane Center says Tropical Storm Dora, in the Pacific Ocean off Mexico's coast, likely will strengthen into a hurricane today. Forecasters expect Dora's eye to stay offshore, but the storm could bring heavy rain to Mexico's southwestern coast.
Reuters (6/25) 
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Officials evaluate flood damage in Mich.
Federal Emergency Management Agency teams are working with officials in Michigan's Isabella and Midland counties to assess flood damage caused by recent storms. Many roads are closed because of the flooding, and the state has issued a disaster declaration for the two counties.
Michigan Radio (6/25),  WPBN-TV/WTOM-TV (Traverse City, Mich.) (6/25) 
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Cyberwatch
Anthem to settle data breach case for $115M
Anthem to settle data breach case for $115M
(David McNew/Getty Images)
Health insurance company Anthem has agreed to pay $115 million to settle a class-action lawsuit over a data breach that led to the exposure and theft of about 80 million records in 2015, including client names, medical IDs, dates of birth, physical and email addresses, and Social Security numbers. US District Judge Lucy Koh is to hear the case in San Jose, Calif., on Aug. 17.
CNET (6/25) 
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Report: Government falls short in website cybersecurity
About 60% of government websites have cybersecurity vulnerabilities, a higher percentage than consumer-services websites such as Twitter, the Online Trust Alliance says in a report. The federal government is working to improve cybersecurity through steps such as former President Barack Obama's Cybersecurity National Action Plan and President Donald Trump's May 11 executive order focused on improved cybersecurity and stronger infrastructure.
Bloomberg BNA (free content) (6/20) 
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I can't give you a surefire formula for success, but I can give you a formula for failure: Try to please everybody all the time.
Herbert Bayard Swope,
journalist
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