Archive for June 2024

Oregon utility regulators have rejected a request from PacifiCorp that sought to limit its liability in wildfire lawsuits. Under the proposal, PacifiCorp would only have been responsible for paying out actual economic damages in lawsuit awards. The company submitted the … Source: Claims Journal

Relatives of passengers who died in two jetliner crashes pushed federal officials to prosecute Boeing on criminal charges related to the accidents no later than this fall but said they got no commitment from the Justice Department. The Justice Department … Source: Claims Journal

How can artificial intelligence change propert/casualty insurance claim processing? Two industry experts answered that question from a few angles during Carrier Management’s annual InsurTech Summit. Frank Giaoui, founder and CEO of Optimalex Solutions, and Shane Riedman, general manager and vice … Source: Claims Journal

A Delaware judge has allowed more than 70,000 lawsuits over discontinued heartburn drug Zantac to go forward, ruling that expert witnesses can testify in court that the drug may cause cancer. The ruling on Friday by Judge Vivian Medinilla of … Source: Claims Journal

Ford Motor Co. is just two years away from offering technology that will allow drivers to take their eyes off the road and their hands off the wheel, according to Chief Executive Officer Jim Farley. “We’re getting really close,” Farley … Source: Claims Journal

Kansas storm claims totaled nearly half a billion dollars in 2023. According to numbers shared by the state’s department of insurance, 147,710 claims totaling $442.8 million were paid last year. The Kansas Department of Insurance collected this data from all … Source: Claims Journal

Live Nation Entertainment said on Friday it was investigating a data breach at its Ticketmaster unit that it discovered on May 20, the latest in a string of high-profile corporate hacks in the past year. In a filing with the … Source: Claims Journal

MicroStrategy Inc. and its co-founder and Chairman Michael Saylor will pay $40 million to resolve a tax fraud lawsuit. The Washington, DC, attorney general’s office sued Saylor in August 2022, alleging the crypto billionaire had failed to pay more than … Source: Claims Journal

PEMCO Mutual Insurance named Calvin Strong chief claims officer. It also named Shashi Reddy chief data and analytics officer. Strong will lead the claims function at PEMCO. Strong has more than 30 years of experience in the property/casualty insurance industry, … Source: Claims Journal

A Connecticut Appeals Court has affirmed that an insurer is not obligated to provide actual notice of a home insurance nonrenewal; proof that the insurer sent the notice by registered or certified mail is sufficient. The homeowners claimed they never … Source: Claims Journal