Industry News
The Doan Group added a new insurance claim appraisal franchise serving Minnesota. The new franchise owner is Ebrima Dibba. Dibba has three years of experience as an auto appraiser. The Doan Group, headquartered in Covington Georgia, provides nationwide vehicle, specialty, …
Via: Claims Journal
Energy company Phillips 66 owes biofuel maker Propel Fuels $604.9 million in damages for stealing Propel’s trade secrets to build up its renewable-fuel capabilities, a jury in a California state court decided on Wednesday. The jury in Oakland agreed with …
Via: Claims Journal
Hunter Biden has revived a lawsuit that accuses Fox News of illegally publishing explicit images of him as part of a streaming series. The president’s son first sued Fox in New York in July over images used in the Fox …
Via: Claims Journal
Estimates released on Wednesday from CoreLogic show that insured wind and flood losses from Hurricane Milton are expected to be between $17 billion and $28 billion. CoreLogic’s estimate comes as Moody’s RMS Event response updated its estimate, which shows total …
Via: Claims Journal
Video-game developer FractureLabs filed a lawsuit against Jump Trading, accusing one of the cryptocurrency industry’s biggest market makers of “fraud and deceit” by manipulating the price of a token used in an online game. According to the suit, FractureLabs planned …
Via: Claims Journal
Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first Florida insurers to report estimated losses after recent hurricanes. HCI said in a statement …
Via: Claims Journal
Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business lines. But new research identifies …
Via: Claims Journal
Carmaker Stellantis said on Wednesday it is recalling 54,000 hybrid crossover SUVs worldwide because the brake pedal in the vehicles could disengage and stop working. The recall, the company said, includes some 2024 through 2025 model-year Alfa Romeo Tonale plug-in …
Via: Claims Journal
RTX agreed to pay nearly $950 million to resolve federal charges it defrauded the U.S. Department of Defense into overpaying for defense systems and bribed an official in Qatar to secure business from the Middle East country’s air force. The …
Via: Claims Journal
Vector Risk Solutions named Joshua Cruce chief strategy officer. Cruce will be responsible for driving the company’s strategic initiatives, and identifying new opportunities for growth. Cruce has a background in developing and implementing strategies across various sectors. He was previously …
Via: Claims Journal