Litigation/Liability Trends
AIG CEO Zaffino Acknowledges Reduction of Cyber Insurance Limits as Coverage Costs Climb
American International Group Inc is tightening terms of its cyber insurance, noting that its own premium prices are up nearly 40% globally, with the largest increase in North America, the U.S. ...
As Workers Return to Office, Insurers Worry About COVID-19 Discrimination Claims
Liability insurers on both sides of the Atlantic are scaling back the cover they offer companies ahead of an expected wave of discrimination claims as employers call staff back to their desks after ...
FDA Slaps ‘Most Serious’ Label on Philips Ventilator Recall Over Low Oxygen Risk
The U.S. Food and Drug Administration on Tuesday classified the recent recall of some of Philips' ventilators as Class 1, or the most serious type of recall, saying the use of these devices may cause ...
Robo-Lawyer DoNotPay Valued at $210M; Expanding to Small Biz Customers
DoNotPay, a startup that describes itself as a robot lawyer striving to beat bureaucracy, has more than doubled its valuation to about $210 million, according to Chief Executive Officer Joshua ...
Class Action Targets Insurance Broker Gallagher Over Ransomware Attack
Insurance and benefits broker Arthur J. Gallagher is the target of a proposed class action lawsuit over a ransomware attack it suffered in 2020. The plaintiffs allege that Gallagher failed to follow ...
Are Reserve Releases Ahead? Appellate Ct. Ruling Seen Slowing COVID Suits
A federal appellate court ruling that dismissed a dental practice's COVID-19 business interruption claim might be the beginning of the end for policyholder arguments that income lost because of ...
Zoom Settles ‘Zoombombing’ and Privacy Rights Lawsuit for $85M
Zoom Video Communications Inc. agreed to pay $85 million and bolster its security practices to settle a lawsuit claiming it violated users' privacy rights by sharing personal data with Facebook, ...
New Securities Class Actions Decline 25% in First Half of Year
Plaintiffs filed 112 new securities class action lawsuits in federal and state courts in the first half of 2021, down 25% from the second half of 2020. This was the lowest number of filings since the ...