Archive for November 2024

Walt Disney agreed to pay $43.3 million to settle a lawsuit alleging that its female employees in California earned $150 million less than their male counterparts over an eight-year period, the plaintiffs’ lawyers said in a statement on Monday. As … Source: Claims Journal

Starbucks said the aftermath of a ransomware attack on a software supplier has been affecting its ability to pay baristas and manage their schedules, the company’s spokesperson said on Monday. The coffee giant said that an outage at a third-party … Source: Claims Journal

Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New … Source: Claims Journal

A federal jury in Marshall, Texas, on Friday awarded computer memory company Netlist $118 million in damages from Samsung Electronics in a patent lawsuit over technology for improving data processing in high-performance memory products. The verdict follows a $303 million … Source: Claims Journal

As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical to watch include pharma class actions, the … Source: Claims Journal

HDI Global added Tom Major as a chief claims officer. The appointment takes effect Feb. 7, 2025. Major will join the executive team, reporting to Stephanie Ogden, CEO, UK and Ireland. Major comes from Allianz, where he currently serves as … Source: Claims Journal

Insurance rating agency AM Best today said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. Underwriting results have improved significantly, … Source: Claims Journal

California Gov. Gavin Newsom is promising to step in with a state electric-car tax credit if US President-elect Donald Trump repeals a federal subsidy after he takes office next year. Newsom, a prominent Democrat and frequent critic of Republican politics, … Source: Claims Journal

Global non-life premiums are expected to hit a decade-high growth level of 4.3% in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma. “Premium rates are now moderating, … Source: Claims Journal

Insurance carriers and restoration teams face a cascade of challenges. The increasing frequency and severity of climate-induced catastrophes, such as Hurricanes Helene and Milton, have pushed some carriers out of high-risk areas, which has played a part in the 17.4% … Source: Claims Journal