Industry News
Apollo Global Management Inc. is building out its risk review process to reflect the impact on asset valuations of extreme weather. The decision comes amid a rise in the damage done to physical assets by floods, storms and wildfires. Apollo, …
Via: Claims Journal
The Justice Department said Thursday it had reached a settlement with the U.S. arm of Chinese auto parts supplier Wanxiang over import tariffs owed on wheel hub assemblies and other parts imported from China over a five-year period. The U.S. …
Via: Claims Journal
Enlyte has entered into an agreement to acquire PartsTrader, a parts procurement marketplace. According to Enlyte, the deal will bring together two complementary businesses within the auto physical damage ecosystem. PartsTrader will become a wholly owned subsidiary of Enlyte and …
Via: Claims Journal
Tesla owners are going to extreme lengths to deal with a problem most had never imagined: being unable to open malfunctioning doors.
Via: Claims Journal
Federal prosecutors in Manhattan unsealed an indictment on Wednesday charging executives of bankrupt Tricolor with systematically defrauding creditors ahead of the subprime lender’s billion-dollar collapse. Tricolor CEO and founder Daniel Chu and former Tricolor chief operating officer David Goodgame were …
Via: Claims Journal
The New York Times asked a judge to once again dismiss President Donald Trump’s $15 billion defamation lawsuit, arguing the complaint is based on “implausible allegations” that cannot overcome First Amendment protections. The suit fails to explain exactly how dozens …
Via: Claims Journal
India’s parliament on Wednesday approved a bill to raise foreign direct investment in the insurance sector to 100% from 74%, a move that will help insure more people in the world’s most populous country. The increase in the FDI limit …
Via: Claims Journal
A privacy advocacy group, noyb, filed complaints to Austria’s data protection authority on Wednesday against TikTok, Grindr and AppsFlyer, alleging these companies breached regional privacy laws, risking exposure of sensitive data. Vienna-based organization None of Your Business, or noyb, alleged …
Via: Claims Journal
The cannabis world is buzzing about a possible move to reclassify marijuana from Schedule I to Schedule III under the Controlled Substances Act. If it happens, it will be a meaningful shift—especially for taxes and market access—but it will not …
Via: Claims Journal
UPS stole tens of millions of dollars in pay from seasonal workers who help the shipping giant deliver packages during the busy holiday season, forcing some to clock in well after their shifts started and deducting pay for lunch breaks …
Via: Claims Journal