Posts by Y@DminG

MicroStrategy Inc. and its co-founder and Chairman Michael Saylor will pay $40 million to resolve a tax fraud lawsuit. The Washington, DC, attorney general’s office sued Saylor in August 2022, alleging the crypto billionaire had failed to pay more than … Source: Claims Journal

PEMCO Mutual Insurance named Calvin Strong chief claims officer. It also named Shashi Reddy chief data and analytics officer. Strong will lead the claims function at PEMCO. Strong has more than 30 years of experience in the property/casualty insurance industry, … Source: Claims Journal

A Connecticut Appeals Court has affirmed that an insurer is not obligated to provide actual notice of a home insurance nonrenewal; proof that the insurer sent the notice by registered or certified mail is sufficient. The homeowners claimed they never … Source: Claims Journal

While overall utilization is trending downward, cost of prescriptions in workers’ compensation is on the rise, driven by “high-dollar topical agents” that primarily come from out-of-network channels, as well as increased utilization and spend on migraine medicines, and rising trends … Source: Claims Journal

Litigation conditions in the industry continue to evolve with representation rates, litigation rates and litigation costs increasing, according to a new report from Sedgwick. The report portrays a challenging and evolving legal landscape in 2024. Among the key findings in … Source: Claims Journal

The California Supreme Court has resolved a question about insurance coverage for COVID-19 business shutdowns in the issue of a virus exclusion in a ruling that is consistent with the vast majority of courts nationwide: the presence of the virus … Source: Claims Journal

The U.S. National Highway Traffic Safety Administration said on Friday it is seeking more information in its investigation into Amazon.com’s self-driving Zoox vehicles due to unexpected braking leading to two rear-end collisions. Related: Alphabet’s Waymo Probe Expanded After More Robocar … Source: Claims Journal

Tesla is recalling 125,227 vehicles in the United States due to a malfunction in its seat belt warning system that can increase the risk of injury in a collision, the National Highway Traffic Safety Administration said on Friday. The regulator … Source: Claims Journal

Black passengers who were briefly ordered off an American Airlines plane in January sued the airline, alleging that they were victims of racial discrimination. Three of the men filed a lawsuit in federal court in New York. They said they … Source: Claims Journal

Cantor Fitzgerald sued the firm that hosts some of its “most critical and sensitive data,” claiming IT Convergence Inc. tried to “extort” money from it. According to a lawsuit filed Wednesday in New York state court, Cantor sought to migrate … Source: Claims Journal