Posts by Y@DminG

Mastercard Inc. won a London court’s approval for the £200 million ($253 million) agreed to pay to end a high-profile class action over the fees it charges, which was initially estimated to be worth more than £10 billion ($12.6 billion). … Source: Claims Journal

Stellantis’ 771 million euro ($807.62 million) lawsuit against two safety equipment makers was dismissed by a London tribunal on Friday. The automaker, which was formed by the 2021 merger of Fiat Chrysler Automobiles and PSA Group, sued Autoliv and ZF/TRW … Source: Claims Journal

Tesla said on Friday it was recalling nearly 380,000 vehicles in the United States due to a power steering assist failure that could increase steering effort, particularly at low speeds, potentially raising the risk of a crash. The recall follows … Source: Claims Journal

The 2024 hurricane season presented challenges for insurers thanks largely to hurricanes Beryl, Helene, and Milton—the three powerful storms caused more than $138 billion in damage as well as $52 million in insured losses. Nearmap, an aerial imagery and location … Source: Claims Journal

Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the company said … Source: Claims Journal

New York’s top prosecutor is suing Puff Bar and about a dozen other makers and distributors of popular e-cigarette brands for alleged illegal sales practices and marketing products to children. The lawsuit follows a two-year investigation by Attorney General Letitia … Source: Claims Journal

Sedgwick is acquiring Bottomline’s legal spend management division. Sedgwick plans to operate the LSM business as a separate division, and the company anticipates transitioning roughly 300 LSM employees. The transaction is subject to customary conditions and regulatory approvals. The LSM … Source: Claims Journal

It would be hard to find a better testimonial to the power of artificial intelligence than what you’ll get when you speak to people overseeing an AI and technology transformation at Sentry Insurance. The Stevens Point, Wisconsin-based mutual carrier insures … Source: Claims Journal

Delta Air Lines Inc. is offering $30,000 to every passenger aboard a regional jet flight that came to rest upside down after crash landing at a Toronto airport earlier this week. The payments are “a good-faith gesture” that have “no … Source: Claims Journal

The U.S. Equal Employment Opportunity Commission said it will enforce antidiscrimination laws against employers that “illegally prefer non-American workers. In a Feb. 19 announcement EEOC’s Andrea Lucas, acting chair, said the commission is “putting employers and other covered entities on … Source: Claims Journal