$4B Settlement Reached for Maui Wildfires
The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, nearly one year after the ...
Litigation/Liability Trends
Fleming Files Lawsuit Against James River, Alleging Fraud During JRG Re Acquisition
Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300 million acquisition of JRG Reinsurance Co. Once the deal ...
P/C Insurer CFO Viewpoints on PFAS
PFAS was a hot topic at the recent Casualty Actuarial Society Seminar on Reinsurance in June. But at a separate meeting held around the same time—the S&P Global ...
PFAS by the Numbers: $165B Ground-Up* Litigation Losses Possible
When Frank Demento received a mailing from managers of his water district on Long Island last year, the news it contained seemed pretty good.
Commercial Lines Not at Top of Cycle; ‘Thieves’ Fuel Social Inflation: CEOs
It's not waning market discipline but the scourge of social inflation that industry leaders of commercial lines insurance businesses see as a potential threat to future profits, a trio of ...
Judgment Day
In May 2022, a judge at the U.S. District Court in Texas ruled that IBM had breached a 2015 licensing agreement signed with a competitor, BMC Software Inc., awarding BMC ...
Supreme Court Overturns Chevron Rule in Blow to Regulators
A divided U.S. Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws, issuing a blockbuster ruling that will constrain environmental, ...
Workers Sue Disney, Say They Were Wrongly Induced to Move to Florida
Disney workers are suing their employer, claiming they were fraudulently induced to move from California to Florida to work in a new office campus only to have those plans later scrapped amid a fight ...
Facial Recognition Startup Clearview AI Settles Privacy Suit for $50M
Facial recognition startup Clearview AI reached a settlement Friday in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects' privacy rights, a deal that ...
SpaceX Sued by Engineers Fired After Accusing Elon Musk of Sexism
Rocket maker SpaceX and its CEO Elon Musk were sued on Wednesday by eight engineers who say they were illegally fired for raising concerns about alleged sexual harassment and ...