Posts by Y@DminG

FTX filed a lawsuit against Binance Holdings Ltd. and its former Chief Executive Officer Changpeng Zhao, seeking to claw back almost $1.8 billion it alleges was fraudulently transferred by Sam Bankman-Fried. Binance, Zhao and other Binance executives received the funds … Source: Claims Journal

The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s estimates. The projection is based on the first 72,000 insurance … Source: Claims Journal

Hawaiian Electric reported a third-quarter loss after the utility removed a warning about its ability to remain in business, saying that a recent capital raise helped mitigate the concerns. The utility had raised going concern doubts after disclosing that it … Source: Claims Journal

Toyota Motor Corp.’s North American chief operating officer criticized the U.S.’s policies promoting speedy adoption of electric vehicles, calling them “de facto mandates” out of sync with consumer demand. Noting government support for EVs has been a hotly debated issue … Source: Claims Journal

A federal judge said Meta Platforms CEO Mark Zuckerberg is not personally liable in 25 lawsuits accusing his company of addicting children to social media. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California rejected accusations on Thursday that Zuckerberg … Source: Claims Journal

Battery Energy Storage Systems (BESS) development has been looming in U.S. energy markets for several years. Now, as capacity has begun expanding rapidly, the insurance claims are beginning to materialize in both construction and operational policies. For underwriters and claims … Source: Claims Journal

A U.S. judge on Thursday dismissed some claims in a lawsuit accusing Rio Tinto and its former CEO Jean-Sebastien Jacques of defrauding investors by concealing problems developing the $5.3 billion Oyu Tolgoi copper and gold mine in Mongolia. U.S. District … Source: Claims Journal

New research from Stanford University shows that hurricanes and tropical storms in the United States cause a surge of deaths for nearly 15 years after a storm hits. Researchers estimate an average U.S. tropical cyclone indirectly causes 7,000 to 11,000 … Source: Claims Journal

As a deadly storm bore down on Valencia on Oct. 29, the regional president was attending a ceremony to recognize his work on sustainable tourism. Three hours earlier, Spain’s national climate agency had issued a red alert about the rains … Source: Claims Journal

Sedgwick named Andrea Buhl president of the company’s casualty group. Over her 15-year career at Sedgwick, Buhl has held several leadership roles. Sedgwick is a provider of claims management, loss adjusting, technology-enabled business services. Source: Claims Journal