Posts by Y@DminG

A former JPMorgan Chase & Co. precious metals trader said he’s reached a tentative settlement with the bank over a suit claiming he was wrongfully fired over his cooperation with a federal spoofing probe. Donald Turnbull’s lawyer said in a … Source: Claims Journal

The U.S. directors and officer segment in 2023 recorded a direct loss ratio of 50.8—the best result in nearly a decade—but industry rating agency AM Best is not convinced the good times will last. In a special report on U.S. … Source: Claims Journal

A California regulator said it is imposing the maximum penalty of $112,500 on General Motors’ self-driving Cruise unit for the company’s failure to promptly provide complete information to the commission about a seriouscrash involving one of its robotaxis last year. … Source: Claims Journal

Harish Kapur, CEO of Across America Insurance Services, likes to tell the story of how his company’s chief defense lawyer became fed up with Kapur’s frequent requests for lower settlements on claims disputes. “He fired us. He literally fired us,” … Source: Claims Journal

The insurance fallout from the Christmas Day 2020 bombing in downtown Nashville continues, with a federal court deciding this week that Aspen Specialty Insurance must cover millions in replacement costs for a heavily damaged condominium building. The insurer in 2021 … Source: Claims Journal

Hackers are selling data about consumers of the LendingTree Inc. subsidiary QuoteWizard after the company detected unauthorized access on a cloud database hosted by Snowflake Inc., according to a person familiar with the matter. There have been several listings of … Source: Claims Journal

High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond, according to the 2024 U.S Auto Insurance Trends Report … Source: Claims Journal

Hundred-year storms. Record wildfires. Unexpected tornados. These and other extreme weather and national catastrophe events are happening more often today due to climate change. While the impacts of climate change have been unfolding over the last several decades, they’ve intensified … Source: Claims Journal

A bid by GSK and other drugmakers to stop more than 70,000 lawsuits in Delaware over discontinued heartburn drug Zantac has received the backing of leading U.S. industry groups, including the United States Chamber of Commerce and Pharmaceutical Research and … Source: Claims Journal

ATI Restoration named Bernie Tobin sales vice president. Tobin will oversee a team of business development managers throughout the company’s East region. Tobin has more than three decades of senior management experience. Before joining ATI, he was co-founder and managing … Source: Claims Journal