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Investors involved in a class action lawsuit over the 2023 collapse of Silicon Valley Bank (SVB) have reached a $224.5 million settlement with external auditor KPMG LLP, Norway’s sovereign wealth fund said on Friday. KPMG said the settlement was not … Source: Claims Journal

Tesla Inc. is discontinuing the Cybertruck, the polarizing pickup that turned plenty of heads in its brief time on the market but never sold anywhere near Elon Musk’s lofty predictions. Production will wind down at Tesla’s Texas plant in the … Source: Claims Journal

British drugmaker GSK has settled lawsuits that accused Moderna’s COVID-19 vaccines Spikevax and mNEXSPIKE and RSV shot mResvia of infringing its patents, the companies said on Friday. Moderna said in a Friday press release that it settled GSK’s patent litigation … Source: Claims Journal

The next stop in Allstate’s journey with artificial intelligence – a personal agentic assistant for consumers. CEO Tom Wilson revealed that customers could expect an Allstate PAA early in 2027. He said the PAA has been in development for more … Source: Claims Journal

Last week’s $6.3 billion Binance heist is prompting insurers to scrutinize crypto companies’ security more closely, with underwriters expected to probe if clients are vulnerable to a similar attack when they seek new coverage or renew existing policies, industry insiders … Source: Claims Journal

Insurance Journal’s Risky Future series is hosting the winter edition of “AI Tools for MGAs” Winter Edition Demo Day, a series of free AI tool demonstrations designed exclusively for managing general agencies, wholesalers, program administrators, and specialty carriers. In partnership … Source: Claims Journal

In his first year as Chief Executive Officer of Berkshire Hathaway Inc., Greg Abel has pushed the conglomerate into an entirely new area of investment: artificial intelligence. In a significant departure from Warren Buffett’s famous reservations about technology stocks, the … Source: Claims Journal

Thousands of homes and businesses north of Los Angeles face the risk of potential power cuts over the next two days as weak to moderate Santa Ana winds bring dangerous fire weather conditions. Southern California Edison is considering shutting off … Source: Claims Journal

The cost of repairing or remodeling a home has risen steadily through October, with higher oil and energy prices, along with elevated interest rates stemming from the Iran conflict, pushing prices up Source: Claims Journal

Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the U.S. Congress in January, lawmakers, congressional aides and advocates said. The plans would mark a sharp shift … Source: Claims Journal