Industry News
The 2024 Atlantic hurricane season brought unprecedented changes to Florida’s insurance market. The impact of inclement weather has caused home and flood insurance rates to balloon over 400% in the last five years alone. Most recently, Hurricanes Helene and Milton …
Via: Claims Journal
The maker of Evian spring water, Danone, won the dismissal of a lawsuit challenging its “carbon neutral” claim on bottles, as a U.S. judge reversed his earlier ruling letting the proposed class action proceed. Consumers accused Danone of defrauding them …
Via: Claims Journal
Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places. Flooding rainfall and …
Via: Claims Journal
Flood damage-related economic losses totaled USD $51.6 billion in 2023, but research shows protective measures can substantially reduce losses, according to Swiss Re Institute. As losses are expected to increase due to more intense weather events and continued urban sprawl, …
Via: Claims Journal
Mobile U.S. Inc.’s network was among those recently breached by Chinese hackers in an attack on multiple telecommunications companies. “T-Mobile is closely monitoring this industry-wide attack,” a company spokesperson said Saturday in an emailed statement. “We have not seen significant …
Via: Claims Journal
The U.S. auto safety regulator said on Monday it had initiated a recall query into about 112,567 Ford SUVs over an issue with seat belt retractors. The National Highway Traffic Safety Administration said it had received three complaints, alleging an …
Via: Claims Journal
General Motors’ self-driving car unit, Cruise, admitted to submitting a false report to influence a federal investigation and will pay a $500,000 criminal fine as part of a deferred prosecution agreement, the Justice Department said. The department said Cruise failed …
Via: Claims Journal
Gallagher Bassett named Irina Simpson executive vice presidents of workers’ compensation and Ajay Sinha was named managing director of captives. Simpson was previously chief claims officer and senior vice president at PMA companies. Sinha, who has been with Gallagher Bassett …
Via: Claims Journal
Porsche Auto Insurance launched a new unlimited policy for owners of Porsche automobiles who drive more than 10,000 miles per year. The product is indended to complement to the original pay-per-mile policy offered by Porsche Auto Insurance by providing customers …
Via: Claims Journal
Elon Musk is ramping up his feud with Sam Altman, alleging in a court filing that OpenAI is trying to corner the market for generative artificial intelligence and sacrificing safety in a race to get ahead. In a revised version …
Via: Claims Journal