Industry News
– Cyber insurers have spent years defining what constitutes a hack and when coverage should pay out, but the rapid emergence of AI agents is raising new questions, forcing insurers to review their policies. Leading AI developers OpenAI, Anthropic and …
Via: Claims Journal
Alphabet Inc. has agreed to pay £260 million ($354 million) to settle a U.K class action accusing the U.S. firm of abusing its dominance and charging excessive commissions to app developers. The claim alleged Google imposed “excessive and unfair” commissions …
Via: Claims Journal
More than a year after wildfires devastated Pacific Palisades, a nonprofit is advancing a plan to tap the public debt market to create housing in the slow-to-recover Los Angeles wealthy enclave. Uplifters Foundation plans to build new $3 million houses …
Via: Claims Journal
Meta’s move to restrict teenagers’ use of social media in the U.S. shows companies have tools to better protect young people online, Australian officials said on Thursday, while in the Philippines, an official said the U.S. company had pledged to …
Via: Claims Journal
A federal judge said on Thursday he would grant final approval to Bank of America’s $72.5 million class-action settlement with women who accused the second-largest U.S. bank of facilitating their sexual abuse by the late financier Jeffrey Epstein. U.S. District …
Via: Claims Journal
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