Litigation/Liability Trends
California Utility Could See $2.14B Fine Over Wildfire Liabilities
California's utilities regulator has proposed an increased $2.14 billion fine on PG&E Corp for its role in causing the devastating 2017 and 2018 wildfires in Northern California. The decision ...
VW Reaches $900M Settlement With German Consumer Group Over Diesel Scandal
Volkswagen and a major German consumer group said on Friday that they had reached an 830 million euro ($902.04 million) agreement in a class action lawsuit over the carmaker's rigging of diesel ...
Insurers Risk Significant Losses if Coronavirus Prompts Olympics Cancellation
Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of ...
Florida Carriers, Facing Market Turmoil, Pursue Massive Rate Increases
It's no surprise that Florida carriers are raising homeowners insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. ...
Wells Fargo Will Fork Over $3B to Settle Consumer Abuse Allegations
Wells Fargo & Co. will pay $3 billion to settle U.S. investigations into more than a decade of widespread consumer abuses under a deal that lets the scandal-ridden bank avoid criminal charges. ...
Global Financial Firms Risk $1 Trillion in Losses if Slow to Act on Climate Change
The world's financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new ...
Ransomware Shuts U.S. Natural Gas Compressor Facility for Two Days
A recent ransomware attack caused a U.S. natural gas compressor facility to shut for two days, the latest in a string of attacks targeting the country's energy infrastructure over the past few years. ...
Fossil-Fuel Production May Generate Much More Methane Than Scientists Thought
Fossil-fuel production may be responsible for much more atmospheric methane than scientists previously thought, according to new research published today in the journal Nature. The results, if they ...