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California’s attorney general said it reached a $50 million settlement with commodity traders Vitol and SK Energy Americas Inc. after it alleged the firms acted together to manipulate local gasoline markets. It’s the latest instance in which commodity traders have … Source: Claims Journal

The US Federal Trade Commission is preparing a lawsuit against the three largest drug middlemen over their use of rebates for insulin and other drugs, according to a person familiar with the probe. The agency has been investigating whether the … Source: Claims Journal

German carmaker BMW is recalling more than 390,000 vehicles in the United States due to faulty airbag inflators that could potentially explode, the U.S. National Highway Traffic Safety Administration said on Wednesday. An explosion of the inflator could cause sharp … Source: Claims Journal

Imagine a world where insurance claims are processed instantly with accuracy and minimal manual intervention. Yes, that is the promise current artificial intelligence revolution has made in claims processing. But as with any modern technology revolution, there are challenges, and … Source: Claims Journal

Elon Musk won dismissal of a lawsuit claiming he refused to pay at least $500 million of severance to thousands of Twitter employees he fired in mass layoffs after buying the social media company now known as X. U.S. District … Source: Claims Journal

At the same time it is settling a New York class action about underpaying totaled loss claims for $48 million, Progressive Insurance, in a separate case, has agreed to an $18.3 million settlement over allegations that its carriers failed to … Source: Claims Journal

Hurricane Beryl got the respected team of researchers at Colorado State University to rethink its forecast for the Atlantic hurricane season, which has already seen three named storms. CSU’s Department of Atmospheric Science now calls for an “extremely active” total … Source: Claims Journal

HSBC Holdings Plc won the dismissal of most claims brought by First Citizens Bank & Trust Co. over the hiring of dozens of Silicon Valley Bank employees following the lender’s collapse last year. In an order Tuesday, US Magistrate Judge … Source: Claims Journal

Due to a shock hazard, a California company is recalling nearly 1 million power adapters sold with sound machines marketed to help infants and young children sleep. The plastic surrounding the AC power adapter that was supplied with some of … Source: Claims Journal

Cargo claims are an inevitable part of the shipping industry, but the challenges associated with these claims are getting both more complex and frequent this year. From increasing technological advancements to the complexity of global trade, the freight insurance industry … Source: Claims Journal