Archive for July 2024
Russian Court Orders Volkswagen Pay $193M in Damages to Carmaker
A Russian court has ordered Volkswagen to pay 16.9 billion roubles ($193 million) in damages to Russian carmaker GAZ Group, which had sued the German automaker over lost profits after Volkswagen exited the Russian market. In May 2023, Volkswagen finalized … Source: Claims Journal
Read MorePurdue Pharma Backs Creditor Move to Sue Sacklers Over Assets
The bankrupt estate of Purdue Pharma says it will support a move by the opioid maker’s creditors to sue members of the Sackler family over allegations that they improperly shifted billions of dollars of Purdue profits into offshore trusts. The … Source: Claims Journal
Read MoreAbbott Faces Trial Over Claims That Preterm Infant Formula Caused Dangerous Disease
Similac baby formula maker Abbott is expected to face a trial on Monday over claims that its formula for preterm infants used in neonatal intensive care units causes a potentially deadly bowel disease, the second trial out of hundreds of … Source: Claims Journal
Read MoreUnderground Climate Change: Property Insurance Coverage for an Emerging Risk
Heat emanating from basements, train tunnels, sewers and other underground systems in major metropolises in the U.S. and Europe is heating the ground between city surfaces and the bedrock. The temperature increase reaches as high as 27° Fahrenheit in some … Source: Claims Journal
Read MoreInsurers Fret Over Militant Attacks, AI Hacks and Big Claims at Paris Olympics
Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the … Source: Claims Journal
Read MoreMedical Price Index Shows Increases in Workers’ Comp and Auto Injury Services Costs
Physician charges per unit increased by 11% nationally for worker’s compensation from the first quarter of 2020 through the first quarter of 2023, a new report shows. Enlyte’s latest Quarterly Medical Price Index Report delves into first- and third-party auto … Source: Claims Journal
Read MoreNCCI Identifies ‘Big 3′ Workers’ Comp Issues to Watch
Employers will face three major workplace safety challenges in the coming years, but all can be mitigated through evolving safety solutions, workers’ compensation professionals say. The report, Challenges for Today’s Worker–The Big Three: Physical Space, Mental Health and Environmental Impact, … Source: Claims Journal
Read MoreBanks Face Record Number of U.K. Lawsuits as Economy Stumbles
Banks in the UK are embroiled in the highest number of lawsuits in a decade in a trend that shows no sign of slowing down. Almost three new cases involving financial services firms were filed every day on average at … Source: Claims Journal
Read MoreHurricane Beryl Leaves Thousands in Texas Without Power
More than 1.5 million homes and businesses in Texas lost power after Hurricane Beryl made landfall in the state, bringing howling winds and driving rain that knocked out electric lines. The storm made landfall shortly before 4 a.m. local time … Source: Claims Journal
Read MoreThe Battle Over J&J’s Bankruptcy Plan to End Talc Lawsuits
Eron Evans died in 2016 at 41 of ovarian cancer, leaving behind two daughters. Her grieving mother, Darlene, blames Johnson & Johnson’s Baby Powder – and she’s pursuing a lawsuit her daughter started a decade ago, alleging the company’s talc … Source: Claims Journal
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