Posts by Y@DminG

Applied Intuition raised $600 million in a funding round and tender offer that valued the automotive software supplier at $15 billion, more than doubling its valuation from last year in a sign of strong investment appetite for autonomous vehicle technology. … Source: Claims Journal

Louisiana Governor Jeff Landry vetoed a bill last week that would have limited bad faith lawsuits against insurers, a move that raised criticism from the insurance industry. SB 111, sponsored by Sen. Alan Seabaugh, R-Many, intended to bring clarity to … Source: Claims Journal

Not one but two class action lawsuits have been filed against Erie Insurance even as the insurer continues to investigate its cybersecurity incident. One lawsuit was filed by an Illinois customer, Neil Plascencia; the other by Amy Haas, a former … Source: Claims Journal

Flash flooding caused by torrential rains killed five people in northern West Virginia and rescue crews were searching for three other people who were missing Sunday as authorities assessed damage to roads, bridges, natural gas lines and other infrastructure. Officials … Source: Claims Journal

When Hurricane Helene’s flood waters slammed into Lake Lure’s century-old dam last September, gouging a massive scar into one embankment and cascading five months’ worth of rain down its sides, town commissioner Dave DiOrio worried it might fail. Emergency sirens … Source: Claims Journal

In any other year, May 14 may well have been an energy disaster in Texas. Temperatures climbed to seasonal levels not seen in over a century: 92F in Dallas, 95F in Houston and 104F in Laredo. Air conditioners hummed en … Source: Claims Journal

It makes sense that Pie Insurance, which arose amid the explosion insurtechs and fintechs in the businessworld, is embracing the power and promise of artificial intelligence—particularly in its claims operations. The Denver, Colorado-based insurer has made a name for itself … Source: Claims Journal

The head of Boeing Commercial Airplanes, Stephanie Pope, met the chairman of Air India on Monday in India, two sources said, as the companies seek to find the cause of last week’s fatal crash involving a Boeing 787 Dreamliner. Pope … Source: Claims Journal

Until recently, homeowners insurers weren’t allowed to use catastrophe models to justify needed rate increases, or to include the cost of reinsurance in their rate indications in the state of California. While that changed late last year when Commissioner Ricardo … Source: Claims Journal

Wind roared against the SUV’s windows as its tires sloshed through water dumped onto the road by the downpour. A horizon-wide funnel cloud loomed out the window, several miles away. Then came the loud metallic pings on the roof. First … Source: Claims Journal