Industry News
Insurers paid out a record £585 million (U.S. $724.7 million) for weather-related damage to people’s homes and possessions in 2024 in the United Kingdom, according to the latest data from the Association of British Insurers. The record claims come following …
Via: Claims Journal
Another major California insurer is reporting losses in excess of $1 billion from the Los Angeles area wildfires. The Travelers Companies Inc. announced Tuesday it will lose an estimated $1.7 billion from last month’s wildfires, which swept through the region …
Via: Claims Journal
Amazon has agreed to pay nearly $4 million to settle charges that the e-commerce company subsidized its labor costs by taking tips its delivery drivers received from customers, District of Columbia Attorney General Brian L. Schwalb said last week. The …
Via: Claims Journal
Allianz Commercial promoted Sandra Lee to head of claims, Canada. Lee succeeds Bernard McNulty, who remains chief agent of Allianz Commercial Canada. Lee will report to McNulty. Lee joined Allianz Commercial in August 2024 as director of long tail claims. …
Via: Claims Journal
Hawaii’s Supreme Court heard arguments last week over insurance issues that are tying up a potential $4 billion settlement over Maui’s catastrophic 2023 wildfire, the deadliest in the U.S. in more than a century. The massive inferno decimated the historic …
Via: Claims Journal
Microsoft Corp. is under investigation from the French antitrust authority amid concerns the U.S. tech giant is degrading the quality of results when smaller rivals pay to use Bing technology in their own search-engine products. Officials are weighing if Microsoft …
Via: Claims Journal
A former UBS bond strategist who persuaded the U.S. Supreme Court to make it easier for corporate whistleblowers to win retaliation lawsuits suffered a setback on Monday, as a jury verdict awarding him back pay and other damages was thrown …
Via: Claims Journal