Claims / Legal
Disasters Cost Insurance Industry $20B in First Half
According to Swiss Re's preliminary sigma estimates, total economic losses from natural and man-made disasters were $56 billion in the first half of 2013, down from $67 billion in first-half 2012. ...
Virus Targets the Social Network in New Fraud Twist
In the world of cyber fraud, a fake fan on Instagram can be worth five times more than a stolen credit card number. As social media has become increasingly influential in shaping reputations, hackers ...
Seven Straight Years of Reserve Releases: Fitch
Property/casualty industry prior-year loss reserves have developed favorably for seven straight calendar years, according to a new report from Fitch Ratings, which also says the industry reserve ...
Penn State Settles First of Sandusky Sex Abuse Lawsuits
Pennsylvania State University agreed to settle the first of 31 suits filed in the sex-abuse scandal involving ex-football coach Jerry Sandusky, with about 25 more set to settle, lawyers in the ...
Will BP’s Hard-Line Legal Tactics Backfire?
BP's hard-line legal tactics aimed at capping the financial blowout from the 2010 Gulf of Mexico oil disaster will backfire, according to Joe Rice, negotiator of last year's settlement on behalf of ...
Apple Faces Possible 2014 Trial on e-Book Damages; Amount Could be Hundreds of Millions
The federal judge who ruled that Apple Inc. violated antitrust law by conspiring with five major publishers to raise prices of e-books has scheduled a May 2014 trial to determine damages, according ...BP Asks Judge to Deny Investor Class-Action Against Company, Officers
BP Plc asked a federal judge to deny U.S. investors the right to pursue a class action, or group, lawsuit claiming the company misled them before and after the 2010 Gulf of Mexico oil spill. The ...
Gulf Of Mexico Evacuations Start; Storm Threat To Oil, Gas Ops
Some Gulf of Mexico oil and gas operators began evacuating workers from offshore facilities but kept production flowing on Thursday as a low-pressure system threatened to strengthen into a cyclone. ...