Industry News
Germany’s Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single European reinsurer for the January catastrophe. The wildfires …
Via: Claims Journal
Smartwatches and other wearable technologies have the potential to change the pricing of life insurance policies by offering better data about individuals’ mortality risk, according to a new report by reinsurance company Munich Re and analytics firm Klarity. The study …
Via: Claims Journal
Malaysia’s 1MDB has dropped a years-long lawsuit against Riza Aziz, one of the producers of hit movie The Wolf of Wall Street, and a stepson to jailed former Prime Minister Najib Razak. The state investment fund, known formally as 1Malaysia …
Via: Claims Journal
The number of Americans that think it’s a good idea for property/casualty insurers to leverage artificial intelligence is headed down, with a growing number of people who say they would be less likely to buy a policy with an insurer …
Via: Claims Journal
A federal judge on Tuesday said Meta Platforms must face a lawsuit claiming that the Facebook and Instagram parent prefers to hire foreign workers because it can pay them less than American workers. U.S. Magistrate Judge Laurel Beeler in San …
Via: Claims Journal
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices. Florida Insurance Commissioner Michael Yaworsky late last week posted a memo, demanding …
Via: Claims Journal
The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention said on Monday the agencies were investigating a multi-state outbreak of listeria infections linked to frozen supplemental shakes manufactured by Prairie Farms Dairy Inc. As of …
Via: Claims Journal
The OKX cryptocurrency exchange, one of the world’s largest, pleaded guilty on Monday to processing more than $1 trillion in transactions by U.S. customers without a license and will pay more than $504 million in penalties. The exchange, which allows …
Via: Claims Journal
Johnson & Johnson said on Monday it had filed a lawsuit against Samsung Bioepis for breaching its contract agreement with the drugmaker over the launch of a biosimilar to Stelara, J&J’s autoimmune drug. J&J said it is seeking a preliminary …
Via: Claims Journal
ATI Restoration named Frances Zoellner regional vice president of the Mountain West region. She will lead business development managers across the region, focusing on the company’s growth and expansion. Zoellner was previously senior vice president of sales for ServiceMaster. Zoellner …
Via: Claims Journal