Industry News
More than a quarter of rideshare drivers say that vehicle insurance is one of their biggest financial burdens, and 25% say insurance is too expensive. Those are among the results from a survey of Americans who drive for on-demand rideshare …
Via: Claims Journal
McKinsey & Co. is nearing a deal with U.S. prosecutors to pay at least $500 million to settle federal probes into its past work helping opioid makers boost sales, according to people familiar with the matter. A settlement, which could …
Via: Claims Journal
Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report. The total economic loss from natural perils in the first three quarters of …
Via: Claims Journal
Progressive Insurance will pay $500,000, the policy limits, to the family of a young woman killed in a 2019 boat crash involving Alex Murdaugh’s youngest son, essentially ending the family’s legal actions in the tragedy. Progressive, which insured the boat …
Via: Claims Journal
Insured industry losses to onshore property for Hurricane Milton will fall between $30 billion and $50 billion, according to an estimate out on Wednesday from Verisk. Moody’s RMS Event Response said earlier this week that total U.S. private market insured …
Via: Claims Journal
British drugmaker GlaxoSmithKline sued Moderna in U.S. federal court in Delaware on Tuesday, accusing its American rival of violating GSK’s patent rights in messenger RNA (mRNA) technology with its blockbuster COVID-19 vaccine Spikevax. According to the two lawsuits, Moderna’s lipid …
Via: Claims Journal
Property Insurance claims from Hurricane Milton had topped more than 152,180 by Monday, with some $1.9 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which made landfall in Florida two weeks earlier, …
Via: Claims Journal
What workplace frights keep small business owners up at night? It may sound like part of a Halloween ditty, but it’s at the heart of a series of questions the people at Pie Insurance thought would be a good to …
Via: Claims Journal
Elon Musk promised to pump out robotaxis in high numbers when Tesla Inc. unveiled prototypes of its Cybercab last week. There’s a big problem with that: US rules won’t allow it. Automakers must secure permission from the National Highway Traffic …
Via: Claims Journal
Johnson & Johnson must pay $15 million to a Connecticut man who alleges that he developed mesothelioma, a rare form of cancer, as a result of using the company’s talc powder for decades, a jury found on Tuesday. Plaintiff Evan …
Via: Claims Journal