Industry News
Volkswagen will recall 177,493 crossover SUVs in the United States over concerns related to a loose engine cover, the National Highway Traffic Safety Administration said on Friday. The engine cover may have been improperly installed after vehicle service, allowing it …
Via: Claims Journal
Recent FDA approval of suzetrigine, representing the first new class of pain medication in more than 20 years, is generating excitement among workers’ compensation professionals who have long been looking for a viable alternative to opioids. Suzetrigine is an oral …
Via: Claims Journal
President Donald Trump’s company sued Capital One Financial Corp., accusing it of illegally “de-banking” him for political reasons by abruptly canceling hundreds of accounts associated with his sprawling real estate business after his first term ended in 2021. The Trump …
Via: Claims Journal
A Canadian court approved a plan to settle long-running tobacco lawsuits in the country as part of which the units of three Big Tobacco companies will pay C$32.5 billion ($22.67 billion), Philip Morris and British American Tobacco said on Friday. …
Via: Claims Journal
Liberty Mutual owes approximately $4 million to about 138,000 Louisiana policyholders after overcharging the Louisiana Property Insurance Corporation Emergency Assessment for the past four years, Insurance Commissioner Tim Temple said. Temple said the Louisiana Department of Insurance received a consumer …
Via: Claims Journal
Bayer AG is seeking shareholder authorization to raise billions of euros through a capital increase in case it needs to quickly resolve its U.S. legal troubles, causing the stock price to plummet. The German company will seek approval at its …
Via: Claims Journal
Airlines are turning to a network of third parties to pay fees to Afghan authorities as more planes use the country’s airspace, increasing the risk of legal disputes and money laundering, according to pilots, aviation executives and lawyers. In the …
Via: Claims Journal
President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the U.S.’s two largest trading partners. Trump signed orders Thursday paring back the tariffs, …
Via: Claims Journal
The use of artificial intelligence has been significantly booming over the last few years in the insurance world, but for the people at Lemonade, artificial intelligence has been a mainstay in automating claims and processes since its inception in 2015. …
Via: Claims Journal
Analysts at AM Best warned that the planned imposition of U.S. tariffs on imports from Canada and Mexico, along with increased tariffs on China, will have a negative effect on the insurance industry—particularly impacting the U.S. homeowners’ and auto lines …
Via: Claims Journal