Posts by Y@DminG

The U.S. Department of Labor is investigating Scale AI, a data labeling startup backed by tech giants Nvidia, Amazon and Meta, for its compliance with the Fair Labor Standards Act, the California-based firm said. The investigation is looking into Scale … Source: Claims Journal

Robinhood Markets, the online trading platform, agreed to pay $29.75 million to resolve several Financial Industry Regulatory Authority probes into its supervision and compliance practices, including failure to respond to “red flags” of potential misconduct. The brokerage regulator said on … Source: Claims Journal

President Donald Trump’s company sued Capital One Financial Corp., accusing it of illegally “de-banking” him for political reasons by abruptly canceling hundreds of accounts associated with his sprawling real estate business after his first term ended in 2021. The Trump … Source: Claims Journal

A Canadian court approved a plan to settle long-running tobacco lawsuits in the country as part of which the units of three Big Tobacco companies will pay C$32.5 billion ($22.67 billion), Philip Morris and British American Tobacco said on Friday. … Source: Claims Journal

Liberty Mutual owes approximately $4 million to about 138,000 Louisiana policyholders after overcharging the Louisiana Property Insurance Corporation Emergency Assessment for the past four years, Insurance Commissioner Tim Temple said. Temple said the Louisiana Department of Insurance received a consumer … Source: Claims Journal

Bayer AG is seeking shareholder authorization to raise billions of euros through a capital increase in case it needs to quickly resolve its U.S. legal troubles, causing the stock price to plummet. The German company will seek approval at its … Source: Claims Journal

The U.S. on Wednesday announced indictments against a slew of alleged Chinese hackers, sanctioned a Chinese tech company and offered a $10 million bounty over what Washington called a years-long spy campaign that stole information from victims across America and … Source: Claims Journal

Analysts at AM Best warned that the planned imposition of U.S. tariffs on imports from Canada and Mexico, along with increased tariffs on China, will have a negative effect on the insurance industry—particularly impacting the U.S. homeowners’ and auto lines … Source: Claims Journal

The use of artificial intelligence has been significantly booming over the last few years in the insurance world, but for the people at Lemonade, artificial intelligence has been a mainstay in automating claims and processes since its inception in 2015. … Source: Claims Journal

President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the U.S.’s two largest trading partners. Trump signed orders Thursday paring back the tariffs, … Source: Claims Journal