Claims / Legal
Visa, Mastercard Agree to $6.2B Class Action Settlement Over Swipe Fees
Visa Inc. and Mastercard Inc. agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants over card fees, the largest-ever class action settlement of an ...
Allianz’s Austria Unit Investigated for Allegedly Giving Travel Clients Promises of ‘Unlimited’ Cover
An Australian unit of German insurer Allianz SE sold travel insurance that misleadingly promised unlimited emergency medical cover wherever people were even though the policies had limits on both ...
Typhoon Mangkhut Wreaks Havoc in the Philippines, Hong Kong, Mainland China
The cleanup from Typhoon Mangkhut began in Hong Kong and southern China on Monday after the storm left at least four dead in Guangdong province, damaged buildings and disrupted flights throughout the ...
Direct Distribution, Car Technology Advances Transforming Personal Auto Insurance
Technological advances in personal auto insurance distribution and vehicle safety are helping to drive significant transformation of the sector over the coming months and years, Conning said in a new ...
An Early Insured Property Loss Estimate From Hurricane Florence: $3B-$5B
Insured residential and commercial property losses relating to Hurricane Florence are expected to reach $3 billion to $5 billion, according to early estimates from CoreLogic. The number includes wind ...
Germany’s Manufacturers Sustain Nearly $50B in Cyber Attack Costs: Study
Two thirds of Germany's manufacturers have been hit by cyber-crime attacks, costing industry in Europe's largest economy some 43 billion euros ($50 billion), according to a survey published by ...
U.S. Agency Moves to Loosen Liability Standards for Contractors’ Labor Practices
U.S. agency that enforces federal labor laws took the first steps on Thursday towards loosening an Obama-era standard that made it easier to hold companies liable for illegal labor practices by their ...
The Latest Launches From AIG/Validus and At-Bay
AIG's Validus Specialty launched a new division focused on crisis management. At-Bay said it launched its 2019 cyber insurance policy form throughout the United States. *** AIG's Validus Specialty ...