Industry News
The cybersecurity company F5 Inc. said nation-state hackers breached its networks, gaining “long-term, persistent access” to certain systems and stealing some source code. The breach prompted alerts from cybersecurity agencies in the U.S. and U.K., with a senior US official …
Via: Claims Journal
Illinois sued State Farm Fire and Casualty Insurance Co. to force it to provide information for an investigation into the company’s rapidly rising premiums for homeowners. The state’s insurance regulator alleged that the company has refused to comply with a …
Via: Claims Journal
A fatality involving a Xiaomi Corp. SU7 electric sedan has renewed scrutiny of flush car door handles and is likely to reinforce China's push for tougher safety standards.
Via: Claims Journal
Wisconsin Insurance Commissioner Nathan Houdek fined a contractor his office said was acting as a public adjuster under Wisconsin law. Houdek imposed civil forfeitures of $6,000, finding the contractor violated the standards of Wis. Stat. ch. 629 by engaging in …
Via: Claims Journal
Credit Suisse on Wednesday lost its $440 million London lawsuit against Japan’s SoftBank Group Corp. over losses linked to collapsed finance firm Greensill Capital. Greensill’s collapse made Credit Suisse close $10 billion of funds linked to the financial firm and, …
Via: Claims Journal
AmTrust Specialty named Tony Scott head of claims and head of limited claims. Scott will be responsible for the strategy and execution of AmTrust’s claims operations, overseeing total claims outcomes across the specialty business. He will also lead claims management …
Via: Claims Journal
Stellantis announced a $13 billion investment in the U.S. on Tuesday, a move it said will bring five new models to the market and add 5,000 jobs in plants across the Midwest over the next four years. The plan, which …
Via: Claims Journal
A fire on Tuesday at a garment factory in Bangladesh and an adjacent chemical warehouse killed at least 16 people and injured others, and the death toll could rise, an official said. The cause of the blaze wasn’t immediately known, …
Via: Claims Journal
Michael Platt’s investment firm BlueCrest Capital Management will pay out $101 million to investors after U.K. regulators said it failed to manage conflicts of interest over an internal investment fund. BlueCrest and the U.K.’s Financial Conduct Authority have been grappling …
Via: Claims Journal
General Motors said on Tuesday it would take a $1.6 billion charge in the third quarter as it reshapes its electric vehicle strategy following the scrapping of a key federal incentive that is likely to dampen demand. GM’s disclosure is …
Via: Claims Journal