Industry News
Ford said on Wednesday it is recalling nearly 1.45 million older vehicles in the U.S. due to faulty rear-view cameras and will extend warranty coverage on millions of other vehicles. The announcement is the latest in a series of recalls …
Via: Claims Journal
A south Florida jury on Monday awarded golfing legend Jack Nicklaus $50 million in a lawsuit in which he charged that his former company and business partners tried to harm his reputation. The Palm Beach Circuit Court jury did not …
Via: Claims Journal
A Stellantis NV plant in Michigan will remain shut down for several weeks due to a shortage of key components, a sign of the growing fallout from a supplier’s aluminum factory fire last month. Production at the automaker’s Warren plant, …
Via: Claims Journal
Living in the northeast, ice dams are a part of life, and a common cause of loss in the insurance industry. However, they are often misunderstood, and effective remedies can be elusive. It’s essential for insurance and claims professionals who …
Via: Claims Journal
Thieves who staged a daring daylight heist at the Louvre museum in Paris made off with jewels worth an estimated 88 million euros ($102.63 million), Paris public prosecutor Laure Beccuau said on Tuesday. “It is important to remember that this …
Via: Claims Journal
Europe’s auto industry is preparing for production disruption within days because of China’s export restrictions on semiconductors made by Nexperia. Chip shortages are likely to hit key suppliers within a week, while the impact could spread across the entire sector …
Via: Claims Journal
Amazon.com Inc.'s reputation as a reliable provider of cloud services took a hit after an outage disrupted the operations of hundreds of companies, ranging from Apple to McDonald's.
Via: Claims Journal
The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying less on them and more on a niche bond market …
Via: Claims Journal
A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA). Northeast …
Via: Claims Journal
In 2022, Jake Clay started an Amazon delivery firm in Odessa, Texas, after hearing about the company-sponsored program from a friend. He sank $75,000 into the business and earned more than $200,000 in the first year. An Air Force veteran, …
Via: Claims Journal