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Insurance news and resources for the claims industry
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News
The Nation's Insurance Laboratory: What Liability Trends in California Mean for the Rest of the Country
2+ day, 12+ hour ago (277+ words) California is the largest insurance market in the United States, with nearly 40 million residents and an economy that would rank among the world’s top five nations. When liability trends shift here, they affect national and global carrier portfolios immediately. The…...
Pharmacists Mutual Names Shaw Vice President and Head of Claims
3+ day, 35+ min ago (166+ words) Claims Journal Pharmacists Mutual Insurance Group named Sharon Duez Shaw vice president and head of claims. Shaw joined the Pharmacists Mutual as part of a planned leadership transition from Peter Lambert, senior vice president, who will retire effective March 31, 2027. Shaw…...
Singapore's DBS Faces $1 Billion Lawsuit in Alleged 1MDB-Linked Claim
3+ day, 14+ hour ago (225+ words) DBS Bank is being sued for an estimated S$1.298 billion ($1.03 billion) in damages linked to the multibillion-dollar 1MDB scandal, Southeast Asia’s largest lender DBS Group said on Wednesday. The claimants include the liquidators of four companies: BlackRock Commodities (Global), Platinum Global…...
Insured Loss Estimates Top $600M From Washington Fires, Testing New Commissioner
4+ day, 10+ hour ago (591+ words) The wildfires that plagued Washington for nearly half the summer put new Insurance Commissioner Patty Kuderer and her office to a test. Kuderer has been in office for over a year-and-a-half. However, she’s relatively new considering her predecessor, Washington Commissioner…...
Thailand Shifts Disaster Risk to Insurers With $467 Million Plan
1+ week, 4+ day ago (283+ words) Thailand plans to provide government-funded disaster insurance to about 30 million households in high-risk areas, while seeking to shift some of the growing cost of floods and other catastrophes to private insurers. The government on Tuesday approved a 15.5 billion baht ($467 million)…...
Amazon Sued by FTC Over Claims It Ripped Off Advertisers
1+ week, 5+ day ago (888+ words) The U.S. Federal Trade Commission and a group of US states sued Amazon.com Inc. over claims the e-commerce giant systematically overcharged advertisers by more than $20 billion since 2019. The complaint filed Monday in Seattle federal court alleges Amazon ultimately misled 1.2 million…...
Aon Acquires USI Insurance From KKR for $17 Billion
1+ week, 5+ day ago (413+ words) KKR & Co. is set to reap a $3.3 billion windfall from its deal to sell USI Insurance Services to Aon Plc for $17 billion, a significant exit for a unit that’s invested its balance sheet in long-term private equity bets. The transaction…...
California Lawmakers File Wildfire Plan Axes Newsom Asks to Bar Insurers From Suing Utilities
1+ week, 6+ day ago (760+ words) California legislators introduced a bill Saturday that would update the state’s wildfire response without shifting liability away from publicly traded utilities. The move comes after extended negotiations with Gov. Gavin Newsom’s administration, which had been advocating for measures that would…...
We Should Be Paying More Attention to The New Wave of SMB Cyber Claims
1+ week, 6+ day ago (491+ words) For years, cyber insurance was treated as a niche product reserved for technology firms, financial institutions and e-commerce giants. When underwriters and claims teams assessed cyber exposure, the conversation centered on massive data breaches and enterprise-grade network overhauls. That framework…...
First Brands Bankruptcy-Payout Plan Rejected by Federal Judge
2+ week, 4+ day ago (273+ words) A federal judge rejected the bankruptcy-payout plan of defunct auto-parts maker First Brands, concluding the proposal to raise money by suing a long list of insiders and business partners was not realistic. U.S. Bankruptcy Judge Christopher Lopez sided with a group…...