Spanish electricity grid operator REE said on Tuesday its preliminary assessment had ruled out cyberattack as the cause of the nationwide power outage that hit most of Spain and Portugal on Monday. Lights went off in most of the two …
It’s a worst case scenario that grid operators plan for but hope never to encounter. After one of the worst blackouts in Europe in more than a decade, electricity grid operators in Spain and Portugal are trying to get networks …
Most of Spain and all of Portugal were hit by a major blackout that impacted public transport, airports and phone service, leaving authorities scrambling to find the causes for one of the worst outages in Europe in years. Data from …
A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A federal …
Cyber, business interruption and natural catastrophes are the top three risks that concern global businesses, according to the Allianz Risk Barometer 2025. Cyber incidents, such as ransomware attacks, data breaches and IT outages, is the top global risk for 2025, …
Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec. 23 …
The Philadelphia Eagles football organization wants to force its case for Covid-19 business interruption insurance against insurer Factory Mutual Insurance Co. into overtime, arguing that its situation is unlike any other that already has been decided. The Pennsylvania Supreme Court …
Two Philadelphia professional sports team have lost their appeals over denied business interruption insurance claims tied to the COVID-19 pandemic. U.S. District Judge Michael Baylson this week dismissed lawsuits by the Philadelphia 76ers basketball team and the Philadelphia Eagles football …
The owners of London’s ExCel conference center on Friday won an appeal brought by insurers, including Allianz, over pandemic-related losses, which its lawyers said could help thousands of other policyholders. London International Exhibition Centre Plc took legal action at London’s …
Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market commentary. The main reason for manageable claims …
