Industry News
Claims from collisions involving battery electric and internal combustion engines rose compared with last year while claims frequencies also rose, according to a new report that also shows a growing parity in loss outcomes of collisions involving battery electric vehicles …
Via: Claims Journal
Progressive said it will stop offering dwelling fire insurance, with nonrenewal notices going out as early as Nov. 19. The Mayfield, Ohio-based insurer late last week said the decision to discontinue writing the coverage, often dubbed “landlord insurance,” for non-primary …
Via: Claims Journal
Sedgwick announced the closing of a minority investment led by Altas Partners, a North American private equity firm. Current investors, including funds managed by global investment firm Carlyle and Stone Point Capital LLC, will remain as investors and continue to …
Via: Claims Journal
Plains All American Pipeline has agreed to pay $72.5 million to settle a lawsuit over the 2015 Refugio Beach oil spill in Santa Barbara, a filing showed on Tuesday. The spill occurred after a pipeline, which ran across California’s coastline, …
Via: Claims Journal
Major technology companies working with U.K. finance firms will face closer scrutiny, regulators said on Tuesday, as they set out long-awaited new rules to tackle potential risks posed by critical third-party suppliers. Under regulations coming into force starting Jan. 1, …
Via: Claims Journal
Firefighters battled strong driving a fast-moving Southern California wildfire that forced the evacuations of thousands of people and destroyed at least 168 structures. Containment of the Mountain Fire in Ventura County increased to 48%. The fire has now burned 20,630 …
Via: Claims Journal
Chipotle Mexican Grill was sued on Monday by shareholders for concealing how many of its restaurants were skimping on portions, forcing the chain to spend more on ingredients and hurting its stock price. In a proposed class action filed in …
Via: Claims Journal
Battery Energy Storage Systems (BESS) development has been looming in U.S. energy markets for several years. Now, as capacity has begun expanding rapidly, the insurance claims are beginning to materialize in both construction and operational policies. For underwriters and claims …
Via: Claims Journal
A federal judge said Meta Platforms CEO Mark Zuckerberg is not personally liable in 25 lawsuits accusing his company of addicting children to social media. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California rejected accusations on Thursday that Zuckerberg …
Via: Claims Journal
Toyota Motor Corp.’s North American chief operating officer criticized the U.S.’s policies promoting speedy adoption of electric vehicles, calling them “de facto mandates” out of sync with consumer demand. Noting government support for EVs has been a hotly debated issue …
Via: Claims Journal