Industry News
Kimberly-Clark Corp. agreed to pay up to $40.4 million to resolve a criminal charge relating to the sale of adulterated MicroCool surgical gowns. A filing in U.S. District Court in the Northern District of Texas charges Kimberly-Clark with one count …
Via: Claims Journal
A month after Tesla launched a trial robotaxi service in Austin, Texas, in June for select fans, CEO Elon Musk told investors that the company’s driverless taxis would likely be available to “half the population of the U.S.” by the …
Via: Claims Journal
Eight months after the Palisades and Eaton wildfires in Los Angeles, commercial and residential policyholders continue to report unreasonably long delays, dubious denials, and conspicuously low settlements. Most prominently, the California FAIR Plan has continued to deny or narrow smoke …
Via: Claims Journal
Uber Technologies Inc. and Lyft Inc. agreed to back a state-supervised way for California drivers to unionize and collectively bargain on industry-wide pay and benefit guarantees, under a new legislative deal that provides the companies relief on insurance costs. Legislative …
Via: Claims Journal
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