Industry News
Economic and social inflation has added $4 billion in insured losses and expenses to the medical malpractice insurance market over the past decade, according to a new study. The study is part of an annual series of studies commissioned by …
Via: Claims Journal
Alphabet Inc.’s Google was sued by advertising exchange PubMatic Inc., which is seeking billions of dollars over its claim that the search giant has illegally monopolized the ad technology market. The lawsuit, filed Monday in federal court in Virginia, is …
Via: Claims Journal
The cost of property insurance in the U.S. rose to an all time-high in the first half of the year, as homeowners faced sharp price increases in states recently affected by climate-related disasters, such as California. The average insurance payment …
Via: Claims Journal
The U.S. National Highway Traffic Safety Administration said on Monday it had opened a probe into about 287,000 Stellantis’ Chrysler minivans over concerns related to their electric power steering. The probe covers Chrysler Pacifica from model years 2017 to 2018. …
Via: Claims Journal
Berkshire Hathaway Inc.’s PacifiCorp says ongoing litigation from massive wildfires in 2020 that exposed the company to billions of dollars in damages is jeopardizing its ability to continue providing power to hundreds of thousands of customers in Oregon. In an …
Via: Claims Journal
With inland flooding, storm surge losses and government cutbacks on the rise, parametric flood insurance may finally be having a moment in Florida and elsewhere in the Southeast. “It’s starting to get some traction. We’re seeing more and more requests …
Via: Claims Journal
Insured losses exceeded $47.2 billion in Texas last year—a 4.2% increase over 2023, according to a new property/casualty market report from the state’s insurance council. Annual direct losses in Texas have now increased in two consecutive years. Broken out by …
Via: Claims Journal
Dan Sivertsen, CEO of Sedwick Norway, is set to also become the CEO of Sedgwick Sweden. The change is effective September 20. Sivertsen first joined Sedgwick in 2019 then returned in 2022 as the CEO of Norway. He has more …
Via: Claims Journal
Anthropic PBC will pay at least $1.5 billion plus interest to resolve an authors’ copyright lawsuit over the AI company’s downloading of millions of pirated books, one of the largest settlements over artificial intelligence and intellectual property to date. A …
Via: Claims Journal
The manager of the cargo ship that caused the collapse of Baltimore’s Key Bridge in March 2024 should be denied the protections of a federal maritime law it seeks to invoke because it is not the owner of the ship, …
Via: Claims Journal