Industry News
Johnson & Johnson will ask thousands of people suing over its allegedly tainted baby powder to vote in favor of a settlement that would allow the company to resolve all litigation for $11 billion — $2.1 billion more than it …
Via: Claims Journal
The tornadoes that swept through the Great Plains on April 26 and 27 damaged and destroyed roughly 7,000 homes and businesses with a combined reconstruction cost of $2.1 billion, according to an estimate released this week. Multiple severe convective storms …
Via: Claims Journal
Medical device maker Philips said it will pay $1.1 billion to settle hundreds of personal injury lawsuits in the U.S. over its defective sleep apnea machines, which have been subject to a massive global recall. The Dutch manufacturer did not …
Via: Claims Journal
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
Via: Claims Journal
Nearly all new passenger cars and trucks sold in the United States will be required to have automatic emergency braking systems by September 2029, the National Highway Traffic Safety Administration (NHTSA) said on Monday, saying that the rule will save …
Via: Claims Journal
Dave North is retiring from his role as Executive Chairman of Sedgwick, but plans to remain a member of the company’s board of directors. North’s retirement is effective June 30. North was Sedgwick’s president and CEO from 1995 to 2020. …
Via: Claims Journal
The first quarter of the year saw the sixth straight quarterly increase (.7%) in overall registrations in California in the first quarter from the same period last year, while the state’s love affair with Tesla’s may be getting old, the …
Via: Claims Journal
Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or “Gen AI”) is the term used for technology that …
Via: Claims Journal
When a cyberattack on Change Healthcare paralyzed much of the US health-care system, some lawmakers saw it as proof its parent company, UnitedHealth Group Inc., was too big. UnitedHealth Chief Executive Andrew Witty saw it differently. He has said that …
Via: Claims Journal
Berkshire Hathaway Inc.’s PacifiCorp now faces a demand for $30 billion from victims of Oregon’s 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the western US. While the amount sought in an …
Via: Claims Journal