Archive for July 2024

Insurer Nationwide said it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to apply for any of the … Source: Claims Journal

Charter Communications will pay a $15 million civil penalty to resolve an investigation into compliance with network and 911 outage notification rules, the Federal Communications Commission said on Monday. The FCC said Charter admitted to violating the agency’s rules on … Source: Claims Journal

The federal government is giving more than a half-billion dollars to coastal communities to help them use nature-based preventative measures to address climate-related flooding and other disasters. The National Oceanic and Atmospheric Administration announced it is allocating $575 million to … Source: Claims Journal

British drugmaker GSK said on Monday it has agreed to confidentially settle a lawsuit in Illinois that alleged its discontinued heartburn drug Zantac caused cancer, the latest in a series of settlements to end costly litigation. First approved in 1983, … Source: Claims Journal

A Berkshire Hathaway insurer is insisting it does not owe $1.3 million in claimed business income losses to a cannabis growing company after a building fire shuttered one of its “flowering” rooms for 68 days. National Fire and Marine Insurance … Source: Claims Journal

Elon Musk has said during Tesla Inc.’s last two earnings calls that investors won’t understand the company unless they’re using the driver-assistance system marketed as Full Self-Driving. William Stein, a Truist Securities analyst with a hold rating on Tesla’s stock, … Source: Claims Journal

A U.S. judge ordered Wells Fargo to face a lawsuit alleging it defrauded shareholders by proclaiming its commitment to hiring diversity, even as it conducted sham job interviews of non-white and female applicants it had no plans to hire. U.S. … Source: Claims Journal

Reckitt Benckiser Group Plc plunged to an 11-year low on Monday after a verdict against Abbott Laboratories intensified concerns over infant formula lawsuits faced by both companies. Shares in the British firm fell as much as 10% to the lowest … Source: Claims Journal

Three months after Tyco Fire Products agreed to pay $750 million to communities with groundwater affected by so-called “forever chemicals” found in fire-stopping foam, Tyco has reached a tentative settlement with one of its insurance companies. “…We write jointly on … Source: Claims Journal

At least 100 structures have been destroyed and roughly 4,200 more are being threatened by the Park Fire, near Chico, California, which has burned 368,256 acres and now touches four counties. Containment on the Park Fire, which has 4,742 fighting … Source: Claims Journal