Claims / Legal
Volkswagen Forks Over $9.8B in Diesel Settlements to U.S. Consumers
U.S. buyers of polluting Volkswagen AG vehicles received more than $9.8 billion in settlements, the Federal Trade Commission (FTC) said on Monday . Volkswagen agreed to offer to buy back or repair ...
AIG Investment Advisory Unit Will Resolve SEC Charges With $40M Payment
An investment advisory unit of American International Group has agreed to pay about $40 million for failing to disclose to teachers and other clients conflicts of interest and practices that ...
Goodbye to Workers Comp Profits in 2020 (Blame COVID-19)
The workers compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice ...
Germany Plans Regulation Reform For Insurers, Banks, Payment Firms on Wirecard Collapse
German Finance Minister Olaf Scholz intends to unveil a reform of the government's financial oversight, as the widening scandal over the collapse of Wirecard AG reaches the highest levels of ...
1000-Plus Twitter Employees Reportedly Had Access to Hack-Worthy Tools
More than a thousand Twitter employees and contractors as of earlier this year had access to internal tools that could change user account settings and hand control to others, two former employees ...
Tesla CEO Musk Seeks Actuaries to Help Build New Insurer
Tesla, which has been testing an insurance product for its drivers in California, is preparing to build an insurer, one CEO Elon Musk says will be "revolutionary." And he's inviting actuaries to join ...
H1 Global Natural Catastrophe Losses Reach Stinging Levels: Munich Re and Aon
Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re ...
Zurich Insurance Declines to Renew Cover for Controversial Trans Mountain Oil Pipeline
Insurer Zurich has decided not to renew cover for the Canadian government's Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some ...