Archive for November 2024

If the pace of product recalls continues in the fourth quarter, the number will reach a six-year high by the end of the year, a new report from Sedgwick shows. Year-to-date there have been 2,454 product recalls across five key … Source: Claims Journal

The National Highway Traffic Safety Administration on Thursday announced a consent order with Ford Motor Co. for failing to comply with federal recall requirements. The consent order includes a civil penalty of $165 million, the second-largest civil penalty in NHTSA’s … Source: Claims Journal

Apple Inc. faces a lawsuit from a U.K. consumer group over allegations its monopoly on data storage breaches competition law, in a fresh class action that could ultimately cost the tech giant billions. The iCloud provider is accused of abusing … Source: Claims Journal

Cornell Capital LLC, the former owner of Instant Brands, was accused of misleading lenders about the company’s performance in order to extract a $345 million dividend that helped drive the Instant Pot maker into bankruptcy. A trustee filed suit Wednesday … Source: Claims Journal

TCW Group Inc. was sued by former group managing director Jess Ravich, who claims the asset manager made up grounds to fire him following a sexual harassment accusation in order to deny him tens of millions of dollars. The lawsuit … Source: Claims Journal

Four Los Angeles area residents were arrested after a California Department of Insurance investigation reportedly found the suspects allegedly committed insurance fraud by claiming a bear had caused damage to their vehicles. It turns out it was a person in … Source: Claims Journal

Fewer workers are dying from hazards where the federal safety resources have been focused, according to a new report. Preliminary agency data show a decrease in fatalities the U.S. Department of Labor’s Occupational Safety and Health Administration is mandated to … Source: Claims Journal

Jeremy Braud joined Aspire General Insurance as vice president of casualty claims. Braud has more than 20 years of industry experience, most recently as regional claims manager at National General. Previous roles include unit manager at AIG Personal Lines Claims … Source: Claims Journal

Flooding is a peril that took center stage this year amid an active Atlantic Hurricane season, a fact that’s highlighted in a new report. The National Insurance Flood Program is expected to face total losses between $8.2 billion and 10.5 … Source: Claims Journal

Tesla said on Wednesday it was recalling 2,400 Cybertruck pickups in the U.S. because a faulty part could lead to a loss of power and increase the risk of a crash, in its sixth callback of Cybertrucks this year. A … Source: Claims Journal