Posts by Y@DminG

Around five years ago, grid-scale lithium-ion batteries exploded onto the scene—some literally. First, insurers faced the same questions as grid operators: How do you define a battery? Is it power generation? Is it grid equipment? The answer had practical implications … Source: Claims Journal

Insurance carriers are not responsible if a bank improperly cashes a check made out to two insureds and gives the proceeds to only one of them, a federal appeals court decided this week. The U.S. 11th Circuit Court of Appeals … Source: Claims Journal

Citadel Securities’ lawsuit accusing Portofino Technologies AG of trade-secrets thefts can largely move forward against the high-frequency crypto-trading startup but not a seed investor in the firm. US District Judge Gregory Woods in Manhattan ruled last week that he lacked … Source: Claims Journal

Meta Platforms Inc. failed in a bid to challenge a class action suit in the UK that alleged Facebook abused its dominant position and exploited its users personal data. The UK’s Court of Appeal refused to permit Meta and Facebook’s … Source: Claims Journal

Flooding from Hurricane Milton appears to have been more extensive than initially determined, affecting almost 185,000 buildings all across Florida, says a new analysis from ICEYE, a firm that uses satellite images to measure damage for the insurance industry. The … Source: Claims Journal

Abbott Laboratories and a unit of Reckitt Benckiser Group Plc were cleared by a jury over claims they hid risks their premature-infant formulas can cause a bowel disease that severely sickened a baby boy. It was the companies’ first trial … Source: Claims Journal

Sony Pictures Television Inc. accused CBS Studios Inc. in a lawsuit of leaving millions of dollars on the table in the network’s distribution of the popular Jeopardy! and Wheel of Fortune game shows. Sony, the producer of the programs, claims … Source: Claims Journal

Crawford & Company has launched a new insurtech company with the goal of offering SaaS solutions aimed at enhancing the efficiency and accuracy of property/casualty claims. Turvi’s SaaS products are designed to improve claims processing workflow, expedite the estimating process … Source: Claims Journal

Purdue Pharma is close to a new bankruptcy settlement with its owners, members of the wealthy Sackler family, and state and local governments that have filed lawsuits alleging that its painkiller OxyContin spurred a deadly opioid-addiction crisis in the U.S., … Source: Claims Journal

Los Angeles County has sued beverage makers PepsiCo and Coca-Cola, accusing them of polluting the most populous U.S. county with plastic bottles and misleading the public about the environmental impact and recyclability of their containers. The county in a lawsuit … Source: Claims Journal