Claims / Legal
SCOTUS Bars Class Action Lawsuit Against Facebook Under Anti-Robocall Law
The U.S. Supreme Court on Thursday barred a proposed class action lawsuit accusing Facebook Inc of violating a federal anti-robocall law, sparing the social media company from a potentially costly ...
Insurers Wary About Cryptocurrency Craze Even as Tesla Takes the Plunge
If Elon Musk's Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck. ...
Australia’s Floods Will Hit Insurers’ 2021 Earnings, Lead to Reinsurance Rate Spike
Insured losses from Australia's March floods are expected to hit general (or property/casualty) insurers' underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance ...
Lloyd’s of London Warns ‘Large Loss’ Is Likely Due to Suez Canal Blockage
The blockage of the Suez Canal for nearly a week will result in a "large loss" for Lloyd's of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 ...
Insurance Companies Won’t be Covering Suez Shipping ‘Lost Expenses’ Costs
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not ...
Supreme Court Considering Nature of Investor Class Actions in Goldman Sachs Securities Case
U.S. Supreme Court justices on Monday struggled in a case involving Goldman Sachs Group Inc. over how judges should determine when shareholders can collectively sue publicly traded companies for ...
Massive Losses Likely for Reinsurers After Suez Canal Blockage: Fitch Ratings
The blocking of the Suez Canal by one of the world's largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even ...
CNA Protected Its Brand With Quick Response to Cyber Attack: S&P
CNA's quick response to a cybersecurity breach that disrupted its network has helped preserve the company's brand and competitive position, Standard & Poor's concluded in a recent assessment. ...