Archive for July 2024
SpaceX Wins Block on U.S. Labor Board Case Over Severance Agreements
A federal judge in Texas said on Wednesday he would block the National Labor Relations Board from pursuing claims that Elon Musk’s SpaceX forced workers to sign illegal severance agreements, pending the outcome of the rocket maker’s challenge to the … Source: Claims Journal
Read MoreCiti Fined $136 Million for Failing to Fix Regulatory Issues
Citigroup Inc. will pay almost $136 million in fines to US bank regulators over issues related to data-quality management and risk controls. The Federal Reserve said Wednesday that its penalty was for Citi violating an enforcement action from 2020. The … Source: Claims Journal
Read MoreBiden Administration Raises FEMA Bar for Flood Resilience
The US Federal Emergency Management Agency (FEMA) has finalized a rule mandating that projects built using its funds not only take into account previous and current levels of local flood risk, but for the first time consider the future risk … Source: Claims Journal
Read MoreDamage From Hurricane Beryl May Cost Insurers $2.7B in U.S., Modeler Says
Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co. said on Thursday. About 1.5 million customers remained without power in Texas on Wednesday, … Source: Claims Journal
Read MoreMicrosoft in $22M Deal to Settle Cloud Complaint, Ward off Regulators
Microsoft has clinched a 20-million-euro ($21.7 million) deal to settle an antitrust complaint about its cloud computing licensing practices, averting an EU antitrust investigation and potential hefty fine. Cloud services organization CISPE, whose members include Amazon and a score of … Source: Claims Journal
Read MoreHurricane Risk Prompts a Caribbean Bank to Disaster-Proof Its Finances
Hurricane Beryl ripped through the Caribbean last week, leaving small island governments rushing to find funds for the billions of dollars in damages. It was the type of situation that Stefano Capodagli is trying to prepare for at the Caribbean … Source: Claims Journal
Read MoreFTC Preparing Suit Against Drug Middlemen Over Insulin Rebates
The US Federal Trade Commission is preparing a lawsuit against the three largest drug middlemen over their use of rebates for insulin and other drugs, according to a person familiar with the probe. The agency has been investigating whether the … Source: Claims Journal
Read MoreVitol, SK Settle California Fuel Rigging Probe for $50 Million
California’s attorney general said it reached a $50 million settlement with commodity traders Vitol and SK Energy Americas Inc. after it alleged the firms acted together to manipulate local gasoline markets. It’s the latest instance in which commodity traders have … Source: Claims Journal
Read MoreBMW to Recall More Than 390,000 Vehicles in U.S. Over Faulty Airbag Inflators
German carmaker BMW is recalling more than 390,000 vehicles in the United States due to faulty airbag inflators that could potentially explode, the U.S. National Highway Traffic Safety Administration said on Wednesday. An explosion of the inflator could cause sharp … Source: Claims Journal
Read MoreLeveraging Artificial Intelligence in Claims Processing: A Balanced Perspective
Imagine a world where insurance claims are processed instantly with accuracy and minimal manual intervention. Yes, that is the promise current artificial intelligence revolution has made in claims processing. But as with any modern technology revolution, there are challenges, and … Source: Claims Journal
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