Industry News
As insurers spread risk across more carriers, the structure behind a single claim has become more complex. Capital is tighter, catastrophe losses are more frequent and specialized risks continue to grow across global insurance and reinsurance markets. Those forces have …
Via: Claims Journal
A U.S. appeals court on Monday returned the lawsuits that led to most of President Donald Trump’s tariffs being struck down to the U.S. Court of International Trade, which could determine the process for refunding more than $130 billion to …
Via: Claims Journal
Agriculture traders rushed to adjust positions with the escalating conflict in Iran threatening to disrupt supply chains from corn and soybean meal to fertilizer and sugar. President Donald Trump said the U.S. bombing campaign against Iran could last for weeks. …
Via: Claims Journal
Zurich Insurance Group announced it has agreed with U.K. specialty insurer Beazley the terms of an all-cash offer to acquire Beazley for US$10.9 billion. The aggregate cash deal is expected to be funded via existing cash (approximately US$3.0 billion), new …
Via: Claims Journal
FedEx was sued in federal court on Friday on behalf of customers seeking refunds from the global shipping company after the U.S. Supreme Court ruled this month that President Donald Trump unlawfully imposed billions of dollars in emergency tariffs on …
Via: Claims Journal
Mobile countersued Verizon Wireless, accusing its largest rival of engaging in “bait-and-switch” advertising to induce consumers to switch cellphone carriers. The lawsuit followed Verizon Wireless’ own February 4 lawsuit challenging T-Mobile ads promising consumers more than $1,000 of annual savings …
Via: Claims Journal
While cover for vessels is available from other providers, several market participants said costs for that had increased by at least 50% and in some case doubled.
Via: Claims Journal
Chinese electric vehicle maker Xiaomi said on Friday that it will set up a committee of advisers to assess the safety of its cars, as it moves to combat rising criticism over a recent spate of accidents. The company also …
Via: Claims Journal
Multiple efforts by Live Nation Entertainment Inc. to settle a federal antitrust lawsuit seeking to break up the company have been rebuffed by government lawyers for now, leaving the case on track to go to trial next week. Live Nation …
Via: Claims Journal
A rare outbreak of infant botulism that sickened dozens of babies who drank recalled ByHeart formula is over, with no new cases reported since mid-December, the U.S. Centers for Disease Control and Prevention said last week. In all, 48 babies …
Via: Claims Journal