Claims / Legal
AXIS Estimates Hurricane Michael Losses Above $100M
AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Hurricane Michael in the range of $100 million to $120 million, which will affect its fourth-quarter financial results. ...
California’s Wildfires Worsen as Investors Flee State’s Largest Utility
A wildfire in Northern California's Sierra Nevada foothills continued to rage Friday as dry, gusty winds have left much of the state at risk. California's largest utility, PG&E Corp., fell the ...
Hurricane Michael Helped Make October an Expensive Natural Catastrophe Month: Aon
Hurricane Michael, the fourth strongest hurricane to strike the U.S. mainland, left behind an expensive legacy, according to Aon/Impact Forecasting's October 2018 Global Catastrophe Recap. The storm, ...
Allianz’s PIMCO, Others, Sue 16 Big Banks In U.S., Alleging Currency Market Rigging
A group of large institutional investors including BlackRock Inc and Allianz SE's Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 ...
Zurich, Hammered by Storm Losses, Boosts 9-Month Revenue
Zurich Insurance posted a 2 percent rise in nine-month property and casualty premiums and confirmed its financial targets on Thursday despite a hit from larger-than-expected natural catastrophe ...
Motel 6 Will Pay $7.6M for Sharing Guest Lists With U.S. Immigration Agents
Motel 6 will pay up to $7.6 million to Hispanic guests to settle a proposed class-action lawsuit claiming that it violated their privacy by regularly providing guest lists to U.S. Immigration and ...
Wells Fargo Auto Insurance Scandal Leads to Class Action Lawsuit
Wells Fargo & Co executives were warned that an auto insurance plan could be overcharging customers four years before the bank scrapped the program, according to a complaint released by a judge ...
AIG Will Exit Iran-Related Cargo Insurance Biz, Thanks to Trump Sanctions
American International Group Inc is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by ...