Industry News
The U.S. Northeast and Mid-Atlantic, including New York City, face another round of thunderstorms, increasing flood risks and transportation woes, with even the slight chance of a tornado.
Via: Claims Journal
Claims adjusters hate AI the most, a new report shows. A report on how workers feel about AI shows the insurance sector, and claims adjusters in particular, feel anxious about AI. The report from Glassdoor shows most workers feel a …
Via: Claims Journal
Private equity giant KKR & Co. has agreed to pay $250 million to resolve a civil antitrust case filed by the U.S. Justice Department alleging the investment firm intentionally withheld documents from government-required merger reviews on more than a dozen …
Via: Claims Journal
Accounting firm Deloitte will pay $21.5 million to settle a U.S. Department of Justice probe over diversity, equity and inclusion practices, which President Donald Trump’s administration has cracked down on during his second term in office. The settlement marks a …
Via: Claims Journal
A Hong Kong court declined to remove PricewaterhouseCoopers International Ltd. from a multibillion-dollar lawsuit brought by China Evergrande liquidators against the firm and its Hong Kong and mainland Chinese affiliates. Deputy High Court Judge Patrick Fung said the evidence PwC …
Via: Claims Journal
Brazil’s government is seeking 500 million reais ($97.1 million) in damages from chat app Discord Inc. in a local lawsuit, while also demanding that the platform strengthen protections for children and women and comply with Brazilian law. The Justice Ministry …
Via: Claims Journal
Insurers are aiming for a bigger slice of the market for significant risk transfers this year as banks step up their use of the hedging instruments. Firms expect to participate in about 50% more SRTs than in 2025, according to …
Via: Claims Journal
Meta Platforms Inc. has agreed to pay up to $16.7 billion to settle a landmark social media case with multiple U.S. states, according to a court filing Wednesday. The deal requires the company to put new guardrails on its platforms …
Via: Claims Journal
A federal judge rejected the bankruptcy-payout plan of defunct auto-parts maker First Brands, concluding the proposal to raise money by suing a long list of insiders and business partners was not realistic. U.S. Bankruptcy Judge Christopher Lopez sided with a …
Via: Claims Journal
California lawmakers are lining up against Gov. Gavin Newsom’s push to rewrite how the state assigns financial responsibility for wildfires sparked by equipment owned by publicly traded utilities. A plan backed by Democrats in the state Senate wouldn’t limit insurers …
Via: Claims Journal