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Posts by Y@DminG

Fire Risk Prompts BMW Recall of 1 Million Cars

BMW is recalling more than 1 million cars and SUVs in two U.S. recalls due to the risk of fires under the hood, and it’s recommending that they be parked outdoors until repairs are made. A spokesman for the German … Source: Claims Journal

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Failing to Initiate Settlement Negotiations is Risky Business

Two recent cases have addressed insurance company extracontractual exposure for failing to initiate settlement negotiations. In Stalley v. Allstate Insurance Co., 2016 WL 1752764 (M.D. Fla. April 29, 2016) the court considered the so-called “Powell rule” where the insurance company … Source: Claims Journal

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Disaster Losses Cut Q3 Berkshire Hathaway Profits by 43%

Warren Buffett’s Berkshire Hathaway Inc. said Friday that its third-quarter profit fell 43 percent because of a $1.4 billion insurance underwriting loss from Hurricanes Harvey, Irma and Maria and earthquakes in Mexico. The Omaha, Nebraska-based conglomerate owns Geico and several … Source: Claims Journal

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Google, AutoNation Partner on Self-Driving Car Program

Google is partnering with AutoNation, the country’s largest auto dealership chain, in its push to produce self-driving cars for wide use. AutoNation said Thursday that its dealerships will provide maintenance and repairs for Waymo’s self-driving fleet of Chrysler Pacifica vehicles. … Source: Claims Journal

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AIG Earnings Miss Estimates on Storms

Even with one of the costliest hurricane seasons on record, large insurers in the U.S. tended to post third-quarter results that topped Wall Street’s estimates. The exception is American International Group Inc. AIG announced Thursday that its loss for the … Source: Claims Journal

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