INSURANCE NEWS
Federal Appeals Court Decertifies SC Class Action on Undervalued Totaled Vehicles
A federal appeals court has decertified a class of plaintiffs in a South Carolina lawsuit alleging that Progressive Insurance undervalued total-loss vehicles, the latest turn in multiple, similar suits against U.S. auto insurers. The U.S. 4th Circuit Court of Appeal …
Containment Increases on California Wine Country Wildfire
Containment has increased on a rural California wine country wildfire that was burning out of control and threatening thousands of properties. The Pickett Fire exploded in the Napa Valley last week, prompting evacuations from area wineries and rural neighborhoods. The …
Lawmakers, Unions Oppose Railroad Plan to Automate Track Safety Inspections
A U.S. railroad industry plan to rely more heavily on technology instead of humans to conduct routine track safety inspections has drawn a backlash from labor groups and lawmakers who voiced worry that automated inspections will result in more accidents. …
Maryland Screwworm Patient Recovered; Ranchers Criticize CDC Secrecy
The patient with the first human infestation of travel-associated New World screwworm in the United States has recovered from the flesh-eating parasite, and there was no sign of transmission to other people or animals, the Maryland Department of Health said …
‘Big Four’ Reinsurers Maintain Property-Cat Appetite, Despite Signs of Rate Softening
Europe’s four largest reinsurers – Swiss Re, Munich Re, Hannover Re and SCOR – are maintaining their appetite for property-catastrophe risks as well as their ambitious profit targets for 2025 – despite signs of rate softening and hefty claims from …
Musk Sues Apple, OpenAI, Saying They Hurt AI Competition
Elon Musk accused Apple Inc. and OpenAI in a lawsuit of unfairly favoring the artificial intelligence company across iPhones and thwarting competition for other chatbot makers. Musk’s X and xAI seek billions of dollars in damages in the suit filed …
Azerbaijan Sounds Alarm Over Shallowing of Caspian Sea
Rapid falls in the level of the Caspian Sea are affecting ports and oil shipments and threatening to inflict catastrophic damage on sturgeon and seal populations, according to Azerbaijani officials. The Caspian, the world’s largest salt lake, holds significant offshore …
Japan FSA Plans New Division to Oversee Asset Managers, Insurers
Japan’s financial regulator plans to set up a division to oversee the asset management and insurance industries, as part of its efforts to drive improvements in the sectors. The new bureau would seek to advance the government’s goal of turning …
Squishmallows Maker, Build-A-Bear Call Truce in Plush Toy Legal Battle
Jazwares, the Berkshire Hathaway-owned maker of Squishmallows, has agreed to end a lawsuit against Build-A-Bear Workshop over its alleged knockoffs of the popular plush toys, according to a filing in Los Angeles federal court. Jazwares and Build-A-Bear asked the court …
Kraft, Other Companies Beat Test Lawsuit Over Ultra-Processed Foods
Kraft, Mondelez, Coca-Cola and several other major food companies on Monday succeeded in winning the dismissal of a lawsuit that accused them of designing harmful “ultra-processed” foods addictive to children. U.S. District Judge Mia Perez in Philadelphia granted the companies’ …
NCDOI Investigating Agency Over Complaints That Policies Weren’t Obtained
Investigators with the North Carolina Department of Insurance searched an insurance agency and a home in Salisbury after reports that insurance premiums had not been used to secure policies. “The N.C. Department of Insurance has received several consumer complaints regarding …
California’s Long-Delayed Bullet Train Slated to Run in Central Valley by 2032
California’s long-delayed high-speed rail project could be operating in the Central Valley by 2032, but it is far short of securing the funding it needs to connect up north toward the San Francisco Bay Area and south toward Los Angeles, …