Claims / Legal
Wildfire Loss Insurance Payments Would Help Fund Proposed PG&E Bankruptcy Exit Plan
A committee of bondholders of PG&E Corp's utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from ...
Prices Soaring: Persian Gulf Oil Shipments Cost More than $500,000 to Insure
The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo ...
Ex-AIG Traders Win UK Judge’s Backing in Bid to Obtain $100M in Bonuses
A group of former traders and managers at American International Group Inc. won a London judge's backing in their battle to obtain $100 million dating back to the financial crisis, after he said that ...
Legal & General Will Divest Exxon Shares Over Climate Change
One of Britain's biggest fund managers started selling shares in Exxon Mobil Corp., saying America's largest oil company isn't doing enough to address climate change. Legal & General Investment ...
Anti-Hacking Company Claims It Took Over a Tesla Model 3’s GPS
An autonomous systems defense company contends it has successfully spoofed the GPS mechanism of a Tesla Model 3 using the automaker's latest Autopilot technology, sending the vehicle off its intended ...
Two Ex-AIG Employees Awarded $10 Million Ahead of Larger, Related U.K. Bonus Case
Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to block the payment of bonuses they'd ...
Hamilton Re Sponsors Issuance of Its First Cat Bond
Hamilton Re has sponsored issuance of its first catastrophe bond. The reinsurance platform of Bermuda-based holding company Hamilton Insurance Group said that the issuance has taken place through its ...
The EU Struggles to Ease Fears Over Committing to Carbon Neutral Target by 2050
EU nations hoping to help lead the fight against global warming by agreeing to go carbon neutral by 2050 at a summit on Thursday engaged in last-ditch diplomacy to ease fears among central and ...