Industry News
New research from S&P Global Market Intelligence looks to suggest that homeowners insurers are reaching rate adequacy, but certain marketplace factors are creating what it called a “fragmented phase.” Nationally, the U.S. effective approved homeowners rate change declined from about …
Via: Claims Journal
The U.S. agency that enforces laws banning workplace discrimination has dropped a lawsuit seeking to enforce a subpoena in an investigation of Nike’s NKE.N treatment of white employees, saying the company has handed over a trove of information. U.S. District …
Via: Claims Journal
Shein lost a U.K. lawsuit against PDD Holdings Inc.’s Temu over allegations its rival engaged in large-scale copyright violations. The Chinese-founded e-commerce giant must also compensate Temu for taking down thousands of product listings, according to a London court ruling …
Via: Claims Journal
Detroit’s automakers plan to argue to the Trump administration that its proposals for a revised North American trade deal could cost the companies billions of dollars and hurt their competitiveness with foreign rivals. U.S. car companies are still struggling to …
Via: Claims Journal
A powerful patch of thunderstorms and wind is expected to strengthen into Tropical Storm Lala by Thursday before taking aim Hawaii this weekend. The weather system was 935 miles (1,500 kilometers) east-southeast of Hilo, Hawaii, with top winds of 35 …
Via: Claims Journal
UnitedHealth Group Inc. board members ignored a raft of governance and oversight risks for years before catastrophic failures triggered billions in losses for investors, a shareholder lawsuit alleges. An amended complaint filed Aug. 7 in a Minnesota federal court reveals …
Via: Claims Journal
In today’s wildland–urban interface (WUI) losses, the question is often more complex than simply “burned versus not burned.” An increasing number of claims involve non-thermal impacts, including smoke infiltration and the deposition of combustion byproducts in structures that remain standing. …
Via: Claims Journal
American International Group Inc. CEO Eric Andersen said that while the artificial intelligence buildout presents a “great opportunity” for the insurance industry, it’s also pushing property and casualty providers to their limits. AI data centers “need everything from project finance …
Via: Claims Journal
The peak of tornado season may be behind us, but the eastward expansion of what has been traditionally known as tornado alley into more populated areas may continue raising awareness of the growing insurance risk long for some time. Record …
Via: Claims Journal
One farm worker died from heat exposure in 2020, resulting in a fine and citation from the U.S. Occupational Safety and Health Administration. Two years later, the employer failed to follow its remedial safety guidelines for heat exposure, failed to …
Via: Claims Journal