Industry News
A Massachusetts judge on Friday blocked GE Vernova from abandoning work on the largest offshore wind farm in New England after developer Vineyard Wind refused to pay over $300 million the turbine supplier says it is owed for the $4.5 …
Via: Claims Journal
The idea that AI tools can help plaintiffs’ lawyers to improve finely tuned litigation strategies that ultimately drive insurance company claims payouts is not new to insurance industry readers. Nor is the suggestion that defense firms need to try to …
Via: Claims Journal
Iran announced that the Strait of Hormuz is now "completely open" for commercial traffic, a big step toward ending a war that's sent energy prices surging.
Via: Claims Journal
Ford is recalling about 1.4 million F-150 pickup trucks in the U.S. following a U.S. National Highway Traffic Safety Administration investigation into reports of unexpected downshifts, the regulator said on Friday. The NHTSA said Ford was aware of two “potentially” …
Via: Claims Journal
A Delaware judge threw out lawsuits seeking to link the heartburn drug Zantac to cancer, freeing makers of the product from facing trials in the state over the cases. Superior Court Judge Francis “Pete” Jones concluded Monday lawyers for ex-Zantac …
Via: Claims Journal
Property/casualty insurance giant Travelers reported a jump in first-quarter profit, buoyed by robust underwriting gains and lower catastrophe losses than a year earlier when results were severely hit by the Los Angeles wildfires. Shares of the company, whose earnings often …
Via: Claims Journal
Two recent court decisions have addressed the issue of subrogation rights of insurance companies against upstream or downstream vendors that experience a data security breach: Axis Insurance Company v. Barracuda Networks, Inc. and Travelers Casualty and Surety Company. of America …
Via: Claims Journal
Darmin Memisevic has been promoted to senior vice president – chief architect of Gallagher Bassett. Memisevic will shape and build Gallagher Bassett’s infrastructure and solutions working to provide better client and claimant experiences. Memisevic joined Gallagher Bassett in 2015 as …
Via: Claims Journal
An insurance fraud scheme involving a bear costume, luxury vehicles and falsified damage claims has ended in convictions for three Los Angeles area residents. A California Department of Insurance investigation began after an insurance company suspected fraud after insureds claimed …
Via: Claims Journal
The medical officer for the Texas summer camp where 27 girls were killed in a flood last year testified Tuesday she still has not officially reported the deaths to the state health agency that regulates camps and is reviewing its …
Via: Claims Journal