Industry News
Walmart defeated an appeal by shareholders who said the world’s largest retailer defrauded them by failing to disclose that federal prosecutors were investigating its opioid-dispensing practices. The 3rd U.S. Circuit Court of Appeals in Philadelphia said Walmart did not commit …
Via: Claims Journal
A group of former Credit Suisse executives and directors agreed to pay $115 million to settle a suit filed by shareholders who claim they failed to maintain adequate risk management.
Via: Claims Journal
Ford Motor is recalling nearly 500,000 vehicles in the U.S over a brake fluid leak issue, the National Highway Traffic Safety Administration said on Thursday. A ruptured hose in the brake system might cause fluid to leak, lengthening stopping distances, …
Via: Claims Journal
The number of products recalled across the U.S. in the second quarter fell 31.5% from 125.37 million units in the first quarter to 85.87 million in Q2, a new report shows. This level marked the lowest quarterly total since the …
Via: Claims Journal
South Korea’s largest mobile operator was hit with a fine and stern criticism from the country’s privacy regulator after a cyberattack disclosed in April compromised the data of about half the nation’s population. The Personal Information Protection Commission on Thursday …
Via: Claims Journal
As the cyber market matures, it’s increasingly evident that fighting off cyberattacks is going to be an ongoing team effort. Brokers, carriers, cybersecurity organizations and insureds all play a role, from security to training to assessing adequate coverage. According to …
Via: Claims Journal
The commercial property insurance market is navigating a constantly evolving landscape in 2025, in which rising costs, labor shortages and the ever-present threat of business interruption are reshaping how claims are managed. In response, many insurers and risk managers are …
Via: Claims Journal
Lists published every hurricane season, adjusting the amounts of insurance losses for past events for inflation to current-dollar levels, give a misleading picture of the potential for a single event costing insurers $100 billion. Karen Clark & Company (KCC) offered …
Via: Claims Journal
Didi Global Inc. agreed to pay $740 million to settle a shareholder lawsuit targeting the handling of its turbulent 2021 IPO, swallowing a one-time charge that pushed China’s ride-hailing leader into the red. The company disclosed the settlement Thursday alongside …
Via: Claims Journal
Credit bureau TransUnion said Thursday that more than 4 million people’s data was exposed in a recent hack involving an unidentified third party. In a letter dated earlier this week and posted to the website of Maine’s attorney general, the …
Via: Claims Journal