Posts by Y@DminG

The auto claims process has entered a new era—one marked by growing complexity, specialized repairs and rising costs. While inflation plays a role in increased claims severity, it’s only part of the story. Today’s vehicles are fundamentally more complex, and … Source: Claims Journal

Cetus Protocol, a decentralized crypto exchange and key liquidity provider on the Sui blockchain, said it lost roughly $223 million in a security breach. The project confirmed the incident in a post on X, formerly Twitter, stating that its smart … Source: Claims Journal

Nuclear verdicts against corporate defendants reached a record high in 2024, led by cases involving products liability and intellectual property, according to a new report from research firm Marathon Strategies. The number of nuclear verdicts—those that surpass $10 million—rose to … Source: Claims Journal

A recent survey of Pacific Northwest drivers reveals a disconnect between self-perception and well they think other drivers are doing, particularly concerning speeding in residential neighborhoods. Nearly all (87%) of respondents in a poll conducted by PEMCO Mutual Insurance of … Source: Claims Journal

Beastie Boys and Universal Music Group settled lawsuits accusing the parent of Chili’s of using the legendary rap trio’s 1994 song “Sabotage” without permission in social media ads to promote the restaurant chain. Settlement notices were posted on Wednesday in … Source: Claims Journal

European product recalls in the first quarter reached the highest quarterly total in 11 years, reaching 3,925 events across five industries, a new report shows. Sedgwick brand protection’s latest European Product Safety and Recall Index shows the number surpassed 3,500 … Source: Claims Journal

The Archdiocese of New Orleans agreed to pay nearly $180 million to victims of clergy sexual abuse under a settlement announced Wednesday, the latest in a string of settlements by the Catholic Church. The archdiocese, its parishes and several insurers … Source: Claims Journal

Aircraft lessor SMBC Aviation Capital has booked a further $654 million in proceeds from insurance settlements over the past year related to jets stranded in Russia following Western sanctions, the Irish-headquartered company said on Thursday. That brought SMBC’s total recoveries … Source: Claims Journal

A former Westminster, California, police officer and her stepfather were charged in a large-scale workers’ compensation fraud case after an investigation revealed the officer collected more than $600,000 in disability payments while reportedly engaging in physically strenuous activities. Nicole Brown, … Source: Claims Journal

The plane crash set 15 homes on fire as well as vehicles, and forced evacuations along several blocks. Source: Claims Journal