Industry News
Mexico President Claudia Sheinbaum threatened a civil lawsuit against Google for renaming the Gulf of Mexico to Gulf of America on its maps service following an executive order Donald Trump signed after taking office. Sheinbaum insisted Thursday that Alphabet Inc.’s …
Via: Claims Journal
A crash involving a Tesla Cybertruck in self-driving mode this week has sparked worries about the reliability of the company’s software that powers the feature, days after CEO Elon Musk said he would roll out a paid robotaxi service this …
Via: Claims Journal
The number of U.S. product recalls remained high in 2024 with more than 3,200 events recorded for the second consecutive year, a new report shows. Sedgwick brand protection’s 2025 U.S. State of the Nation Recall Index, which analyzes recall data …
Via: Claims Journal
Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes last month. That’s according to the …
Via: Claims Journal
The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders. FEMA, administrator of NFIP, said it expects to pay out more than $10 billion in …
Via: Claims Journal
The U.S. National Highway Traffic Safety Administration said on Thursday it has opened an engineering analysis into 129,092 U.S. Honda Motor vehicles after receiving reports of camera failure. The engineering analysis focuses on 2017-2019 models of Honda Ridgeline mid-size pickup …
Via: Claims Journal
Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ultimate bill down to $325 million or less, the company believes. “We believe there …
Via: Claims Journal
Reflecting intensifying wildfires and updated science, new state maps designate more than 2.3 million acres of local land in California as facing “high” or “very high” danger of wildfires. In the wake of devastating fires in Los Angeles County, the …
Via: Claims Journal
An international bank based in Puerto Rico has been sued for fraud over an alleged scheme that attorneys say led to the loss of more than $90 million in deposits, affecting hundreds of clients in the U.S., Venezuela and elsewhere. …
Via: Claims Journal
American International Group reported fourth quarter 2024 net income of $898 million compared to $86 million the prior year, but insurance underwriting income was down 29% on high catastrophe losses. AIG said the dramatic increase in income for the quarter …
Via: Claims Journal