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Microsoft in $22M Deal to Settle Cloud Complaint, Ward off Regulators

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Microsoft has clinched a 20-million-euro ($21.7 million) deal to settle an antitrust complaint about its cloud computing licensing practices, averting an EU antitrust investigation and potential hefty fine. Cloud services organization CISPE, whose members include Amazon and a score of … Source: Claims Journal

Hurricane Risk Prompts a Caribbean Bank to Disaster-Proof Its Finances

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Hurricane Beryl ripped through the Caribbean last week, leaving small island governments rushing to find funds for the billions of dollars in damages. It was the type of situation that Stefano Capodagli is trying to prepare for at the Caribbean … Source: Claims Journal

FTC Preparing Suit Against Drug Middlemen Over Insulin Rebates

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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

Vitol, SK Settle California Fuel Rigging Probe for $50 Million

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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

BMW to Recall More Than 390,000 Vehicles in U.S. Over Faulty Airbag Inflators

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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

Leveraging Artificial Intelligence in Claims Processing: A Balanced Perspective

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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 Beats $500M Severance Lawsuit by Fired Twitter Workers

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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

Progressive Settles New York Case Over Unpaid Sales Taxes on Total Loss Claims

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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

CSU Research Team Increases Atlantic Hurricane Forecast

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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 Faces Trimmed-Down Trade Secrets Lawsuit Over SVB Hires

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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