Archive for July 2019

I’ve seen this story before. Having worked in fintech since 2005, I witnessed the fintech wave forming, cresting, and eventually crashing into the financial ecosystem. If there is a fraternal twin to banking, it’s the insurance industry. Both industries are … Source: Claims Journal

An India-based company that sells numerous drugs in the U.S., including ibuprofen, was caught attempting to dispose of quality-control records, calling into question the safety of its medicines. U.S. Food and Drug Administration inspectors said they found what appeared to … Source: Claims Journal

Insurers and service companies won a major victory this week against lawyers who were trying to bind a group of 1,550 California property appraisers together to sue Farmers Group and Allstate Insurance Co. for allegedly misclassifying them as independent contractors … Source: Claims Journal

A Florida appellate court ruled that the state’s approach to regulating marijuana is unconstitutional, possibly allowing more providers to jump into a market positioned to become one of the country’s most lucrative. If the ruling stands, it could force state … Source: Claims Journal

It started with a broken cable. Sometime before 6:47 p.m. on Saturday, a 13,000-volt underground power line at New York City’s West 64th Street and West End Avenue burned, according to Consolidated Edison Inc. One spokesman for the utility said … Source: Claims Journal

NAIROBI — Before flying to Washington to climb the steps of Congress and testify to a crowd of aviation experts and lawmakers this week, Paul Njoroge spent a desolate weekend packing away toys his children would never play with again. … Source: Claims Journal

The company that brought you free digital maps and email wants to do the same thing for your drone. Wing LLC, an offshoot of Alphabet Inc.’s Google, on Tuesday unveiled a new app it calls OpenSky that it hopes will … Source: Claims Journal

The extended grounding of Boeing Co.’s 737 Max plane forced Ryanair Holdings Plc to scale back growth plans for next summer, putting the airline industry on notice the crisis is starting to affect longer-term plans. With a return date for … Source: Claims Journal

Missiles fired by Hamas from the Gaza Strip into Israel did not constitute an act of war that triggered an exclusion to a blanket insurance policy issued to Universal Cable Productions by Atlantic Specialty Insurance, the 9th Circuit Court of … Source: Claims Journal

Toyota Motor Corp. must pay $15.8 million to a California dealer who accused it of retaliating against him because he had developed safety-recall software that was costing the automaker millions of dollars in car repairs. A state court jury in … Source: Claims Journal