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News Archives - Insurance Journal
Class Action Lawsuit on AI-Related Discrimination Reaches Final Settlement
Mary Louis’ excitement to move into an apartment in Massachusetts in the spring of 2021 turned to dismay when Louis, a Black woman, received an email saying that a “third-party service” had denied her tenancy. That third-party service included an …
POSTED NOVEMBER 25, 2024 6:11 AM |
Hyundai Issues Recalls of Electric Cars for Loss of Power, SUVs Over Wiring Issue
South Korean carmaker Hyundai Motor is recalling about 145,235 electrified vehicles in the United States due to a loss of drive power, the National Highway Traffic Safety Administration said on Friday. The recall includes certain IONIQ 5 and IONIQ 6 …
POSTED NOVEMBER 25, 2024 6:09 AM |
Nissan Persuades Appeals Court to Decertify Brake Defect Class Actions
Nissan persuaded a federal appeals court on Friday to decertify 10 class actions accusing the Japanese automaker of selling cars and SUVs with defective automatic emergency braking systems that caused vehicles to stop suddenly for no reason. The 6th U.S. …
POSTED NOVEMBER 25, 2024 6:09 AM |
SEC’s Penalties, Relief Hit All-Time Record of $8.2 Billion
The US Securities and Exchange Commission’s fines and investor relief hit an all-time record in fiscal 2024. The agency’s enforcement actions led to $8.2 billion in penalties and reimbursement to investors, though the number of cases declined 26% compared with …
POSTED NOVEMBER 25, 2024 6:08 AM |
My Safe Florida Condo Program Runs Out of Funding in One Week
Just a week after a pilot program for strengthening Florida condominiums was launched it reached maximum capacity and is no longer accepting applications. The overwhelming response could underscore the need for wind mitigation and could set the stage for more …
POSTED NOVEMBER 25, 2024 6:01 AM |
Suit Claiming Racial, Income Bias in Rental Algorithm Settled for $2.2 Million
Mary Louis’ excitement to move into an apartment in Massachusetts in the spring of 2021 turned to dismay when Louis, a Black woman, received an email saying that a “third-party service” had denied her tenancy. That third-party service included an …
POSTED NOVEMBER 25, 2024 6:00 AM |
People Moves: Hendrickson Appointed Head of Reinsurance for Delos
Delos Insurance Solutions named Gloria Hendrickson as its new head of reinsurance. Hendrickson has a catastrophe modeling and risk background and was most recently chief operating officer and chief underwriting officer at NormanMax Insurance Holdings and New Paradigm Underwriters. Her …
POSTED NOVEMBER 25, 2024 6:00 AM |
Trucking Firm Owner Sentenced Over Crash That Killed 7 Bikers
The owner of a trucking company was sentenced Thursday to two months in prison followed by one year of supervised release for lying to investigators after one of his trucks was accused of causing a crash that killed seven motorcyclists …
POSTED NOVEMBER 25, 2024 6:00 AM |
Meta Must Face Investor Suit After Supreme Court Drops Case
The US Supreme Court dismissed an appeal by Meta Platforms Inc., leaving it to face a lawsuit that accuses the company of misleading shareholders about the data-harvesting scandal involving political consulting firm Cambridge Analytica. Investors claim the company, then known …
POSTED NOVEMBER 22, 2024 5:30 PM |
Markets/Coverages: MGA Aqueous Secures Capacity Deal With Allied World and Sompo
Aqueous Underwriting, the London-based MGA, has secured major new capacity in a three-year deal with A+ rated insurers Allied World and Sompo. The move to a syndicated capacity arrangement provides the MGA with the opportunity to significantly develop and enhance …
POSTED NOVEMBER 22, 2024 5:05 PM |
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