Industry News
A Hong Kong court declined to remove PricewaterhouseCoopers International Ltd. from a multibillion-dollar lawsuit brought by China Evergrande liquidators against the firm and its Hong Kong and mainland Chinese affiliates. Deputy High Court Judge Patrick Fung said the evidence PwC …
Via: Claims Journal
Brazil’s government is seeking 500 million reais ($97.1 million) in damages from chat app Discord Inc. in a local lawsuit, while also demanding that the platform strengthen protections for children and women and comply with Brazilian law. The Justice Ministry …
Via: Claims Journal
Insurers are aiming for a bigger slice of the market for significant risk transfers this year as banks step up their use of the hedging instruments. Firms expect to participate in about 50% more SRTs than in 2025, according to …
Via: Claims Journal
Meta Platforms Inc. has agreed to pay up to $16.7 billion to settle a landmark social media case with multiple U.S. states, according to a court filing Wednesday. The deal requires the company to put new guardrails on its platforms …
Via: Claims Journal
A federal judge rejected the bankruptcy-payout plan of defunct auto-parts maker First Brands, concluding the proposal to raise money by suing a long list of insiders and business partners was not realistic. U.S. Bankruptcy Judge Christopher Lopez sided with a …
Via: Claims Journal
California lawmakers are lining up against Gov. Gavin Newsom’s push to rewrite how the state assigns financial responsibility for wildfires sparked by equipment owned by publicly traded utilities. A plan backed by Democrats in the state Senate wouldn’t limit insurers …
Via: Claims Journal
Three Texas homeowners filed a federal racketeering lawsuit last week alleging that the Texas Windstorm Insurance Association fraudulently reduced claim estimates for properties damaged by Hurricane Beryl. The lawsuit, filed in the U.S. District Court, Southern District of Texas, alleges …
Via: Claims Journal
Some PepsiCo Inc. employees were notified this week that weight-loss drugs will no longer be covered by their company health insurance as of October due to skyrocketing costs. “Prescription weight-loss medications have become one of the fastest-growing costs in the …
Via: Claims Journal
Artificial intelligence labs and cybersecurity firms are reconsidering the way they test advanced AI models after models from at least three firms jumped onto the open internet and breached real-world victims. Cybersecurity specialists are debating whether they should connect the …
Via: Claims Journal
Canada hit back on Tuesday with retaliatory tariffs on about $20 billion worth of U.S. annual imports and rolled out aid for businesses and workers, matching Washington’s latest duties dollar-for-dollar. The counter-tariffs on U.S. goods take effect on September 8 …
Via: Claims Journal