Industry News
Plaintiffs claiming punitive damages in lawsuits must meet a high bar, a Florida appeals court found in overturning a trial court’s decision in a fatal accident involving an online car-sharing platform. Turo Inc., a firm that connects renters with automobile …
Via: Claims Journal
Tesla Inc. was sued over a fiery crash in Massachusetts that killed the driver after he was unable to exit the vehicle, the latest lawsuit to allege defects with the company’s electrically powered door handles. Samuel Tremblett, 20, died in …
Via: Claims Journal
Cigna Corp.’s Express Scripts has settled the U.S. Federal Trade Commission’s claims its insulin pricing practices violated antitrust and consumer protection laws, and agreed to changes aimed at lowering costs for patients, insurers and small pharmacies, according to a copy …
Via: Claims Journal
Liberty Mutual has received approval to convert three domestic mutual insurance affiliates into stock companies and then merge them into a new wholly-owned subsidiary of Liberty Mutual Holding Company (LMHC). The Massachusetts Division of Insurance has approved the reorganizations of …
Via: Claims Journal
U.S. health officials plan to test certain dairy-based ingredients used in a wide variety of baby formulas for spores that can cause infant botulism, in the wake of the ByHeart recall last year that was connected to 51 infant hospitalizations. …
Via: Claims Journal
Consumers of auto insurance in the U.S. received a respite overall from several years of premium increases, but don’t tell that to drivers in some states and don’t look for it to continue. According to online insurance agent Insurify, the …
Via: Claims Journal
The Federal Emergency Management Agency has yet to release a long-anticipated final report from its Review Council after canceling a December 11 meeting where members were expected to vote on final recommendations. As a result, FEMA and the National Flood …
Via: Claims Journal
Alphabet unit Waymo said it had raised $16 billion in its latest fundraising round that valued the self-driving car startup at $126 billion, nearly tripling its valuation in less than two years. As one of the most sought-after applications of …
Via: Claims Journal
Almost three years ago, in May of 2023, a circuit court judge in Lee County, Florida, sharply criticized a restoration contractor, accusing him of concealing the true cost of condominium roof work in an assignment-of-benefits claim with Tower Hill insurance. …
Via: Claims Journal
A state high court has ruled subsidiaries of American International Group and Chubb cannot use the so-called “bump-up” exclusion in denying coverage for a settlement in a securities lawsuit. Late last month the Delaware Supreme Court affirmed a ruling from …
Via: Claims Journal