Posts by Y@DminG

California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a factor in setting and getting rates. The regulation is a … Source: Claims Journal

Texas Attorney General Ken Paxton has filed a notice of violation against Allstate-owned Arity, a mobile data company that collects drivers’ information, for breaching the Texas Data Privacy and Security Act (TDPSA). The Nov. 29 notice alleges Arity fails to … Source: Claims Journal

McKinsey & Co. has agreed to pay $650 million to resolve a U.S. Department of Justice investigation into the consulting firm’s work advising opioid manufacturer OxyContin maker Purdue Pharma on how to boost sales. McKinsey has entered into a five-year … Source: Claims Journal

New York is considering asking propert/ casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several options under discussion as the state’s Department … Source: Claims Journal

A former top executive with Sony Group Corp.’s Bungie video-game studio sued his former employers, claiming they destroyed his reputation by insinuating he had engaged in sexual misconduct and fired him to avoid paying him the nearly $50 million he … Source: Claims Journal

Mega claims in workers’ compensation represent far less than 1% of total workers’ comp claims yet account for more than 2% of total loss dollars, and total in excess of $1 billion each year, a new study from 10 state … Source: Claims Journal

The National Highway Traffic Safety Administration announced $171 million in grants to 19 states and territories to upgrade and standardize their crash data systems. The system upgrades are intended to improve the accuracy, timeliness, and accessibility of fatality information, including … Source: Claims Journal

Texas Attorney General Ken Paxton filed a lawsuit on Dec. 11 against manufacturers 3M and DuPont for misrepresenting the health risks of products made with forever chemicals The lawsuit alleges the companies for decades manufactured, marketed, and sold an array … Source: Claims Journal

Product recalls are at the top of consumers’ minds ahead of a busy retail season and following a series of high-profile food industry recalls. Brands often fear the risks and setbacks that come with managing a recall. But recalls don’t … Source: Claims Journal

A federal court on Wednesday affirmed a federal judge’s 2021 ruling imposing a $14.25 million penalty on Exxon Mobil for thousands of violations of the federal Clean Air Act at the company’s refinery and chemical plant complex in Baytown. The … Source: Claims Journal