Industry News
A federal bankruptcy judge on Friday signed off on a $246 million fund to pay abuse claims as part of the Catholic Diocese of Rochester’s Chapter 11 reorganization plan to emerge from bankruptcy. Having witnessed six years of bankruptcy proceedings, …
Via: Claims Journal
Already sluggish adoption of electric vehicles in the US will slow even further after a $7,500 tax credit for EV buyers expires later this month.
Via: Claims Journal
A former employee at Meta Platforms Inc.’s WhatsApp filed a federal lawsuit Monday alleging he repeatedly raised cybersecurity concerns about the messaging app with his superiors but was ignored and retaliated against. Attaullah Baig, who identifies himself as the former …
Via: Claims Journal
A delivery driver reports hurting a shoulder while carrying a heavy package on the job. For months, the driver sends the insurer medical updates from a treating provider, but there is little sign of progress. Growing concerned, a claims manager …
Via: Claims Journal
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