Industry News
A federal judge last month approved a preliminary class settlement resolving claims that State Farm underpaid Arkansas policyholders for total loss vehicle claims by applying an erroneous valuation method. Under the settlement agreement, State Farm will pay $15.6 million to …
Via: Claims Journal
U.S. cyber insurers in 2025 reversed a couple of years of decline in direct written premiums to post growth of 11% but, according to Fitch Ratings, there are some underwriting concerns brought on by developments with artificial intelligence. Fitch said …
Via: Claims Journal
The Financial Stability Board is gathering information from members about potential risks posed by Anthropic’s Mythos model as it look to share such insights more broadly among its network of regulators and central bankers to help them judge the risks …
Via: Claims Journal
A Massachusetts judge on Friday blocked GE Vernova from abandoning work on the largest offshore wind farm in New England after developer Vineyard Wind refused to pay over $300 million the turbine supplier says it is owed for the $4.5 …
Via: Claims Journal
The idea that AI tools can help plaintiffs’ lawyers to improve finely tuned litigation strategies that ultimately drive insurance company claims payouts is not new to insurance industry readers. Nor is the suggestion that defense firms need to try to …
Via: Claims Journal
Iran announced that the Strait of Hormuz is now "completely open" for commercial traffic, a big step toward ending a war that's sent energy prices surging.
Via: Claims Journal
Ford is recalling about 1.4 million F-150 pickup trucks in the U.S. following a U.S. National Highway Traffic Safety Administration investigation into reports of unexpected downshifts, the regulator said on Friday. The NHTSA said Ford was aware of two “potentially” …
Via: Claims Journal
A Delaware judge threw out lawsuits seeking to link the heartburn drug Zantac to cancer, freeing makers of the product from facing trials in the state over the cases. Superior Court Judge Francis “Pete” Jones concluded Monday lawyers for ex-Zantac …
Via: Claims Journal
Property/casualty insurance giant Travelers reported a jump in first-quarter profit, buoyed by robust underwriting gains and lower catastrophe losses than a year earlier when results were severely hit by the Los Angeles wildfires. Shares of the company, whose earnings often …
Via: Claims Journal
Two recent court decisions have addressed the issue of subrogation rights of insurance companies against upstream or downstream vendors that experience a data security breach: Axis Insurance Company v. Barracuda Networks, Inc. and Travelers Casualty and Surety Company. of America …
Via: Claims Journal