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Nearly all new passenger cars and trucks sold in the United States will be required to have automatic emergency braking systems by September 2029, the National Highway Traffic Safety Administration (NHTSA) said on Monday, saying that the rule will save … Source: Claims Journal

Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and … Source: Claims Journal

Medical device maker Philips said it will pay $1.1 billion to settle hundreds of personal injury lawsuits in the U.S. over its defective sleep apnea machines, which have been subject to a massive global recall. The Dutch manufacturer did not … Source: Claims Journal

The tornadoes that swept through the Great Plains on April 26 and 27 damaged and destroyed roughly 7,000 homes and businesses with a combined reconstruction cost of $2.1 billion, according to an estimate released this week. Multiple severe convective storms … Source: Claims Journal

When a cyberattack on Change Healthcare paralyzed much of the US health-care system, some lawmakers saw it as proof its parent company, UnitedHealth Group Inc., was too big. UnitedHealth Chief Executive Andrew Witty saw it differently. He has said that … Source: Claims Journal

Berkshire Hathaway Inc.’s PacifiCorp now faces a demand for $30 billion from victims of Oregon’s 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the western US. While the amount sought in an … Source: Claims Journal

Progressive Insurance aims to hire thousands to support several years of year-over-year growth, according to a media statement. At Progressive, the company is looking for qualified candidates within teams including: The claims organization is looking to fill positions ranging from … Source: Claims Journal

Home products retailer Williams-Sonoma will have to pay almost $3.2 million for violating a Federal Trade Commission “Made in USA” order. Williams-Sonoma was charged with advertising multiple products as being “Made in USA” when they were in fact manufactured in … Source: Claims Journal

A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities: Preparing for Ivan Wiper,” focuses on the consequences of … Source: Claims Journal

Mining giants BHP Group and Vale SA offered to pay Brazil about $25.7 billion in total compensation for a 2015 tailings dam disaster at their joint-venture iron ore complex. The offer comes as the companies and Brazilian authorities renew negotiations … Source: Claims Journal