In a major development, Kia and Hyundai have reached a settlement agreement worth approximately $200 million in response to a class-action lawsuit filed against them. The lawsuit alleged that a significant number of vehicles produced by the Korean automakers were highly susceptible to theft.
The history of the standards we use for how we build structures -- homes, apartments and commercial and manufacturing buildings -- has largely to do with regional authorities determining what criteria they need to meet to keep the occupants of the building safe.
From skyrocketing premium growth to the ever-increasing adoption of artificial intelligence to wondering which storm will be the next multi-billion-dollar weather event, the property/casualty (P&C) insurance industry continues to face steep challenges in 2023.
Severe flooding caused by historic ice jams along the Yukon and Kuskokwim rivers has resulted in significant destruction of homes and infrastructure in two communities in Alaska.
The head of the artificial intelligence company that makes ChatGPT told Congress on Tuesday that government intervention will be critical to mitigating the risks of increasingly powerful AI systems.
When the value of a liability claim clearly exceeds the primary insurance limit, but the excess insurer is not quite ready or willing to settle, tensions can arise as to how long the primary insurer must incur defense costs when it is prepared to pay its own limit.
Officials have announced that Chrysler is conducting a recall of more than 132,000 of its Jeep Cherokee vehicles manufactured between 2014 and 2016. The reason behind the recall is a potential fire hazard.
This executive briefing looks at the relationship between inflation and P&C/Non-Life insurance lines in the United States, Canada, the United Kingdom, the European Union, Japan and Korea. It aims to provide the reader preliminary insight into the quantitative relationship between overall inflation and insurance replacement costs within and across the covered countries.
Recent research linking cannabis consumption to a range of health risks may increase product liability exposures for the expanding industry. Insurance coverage for the cannabis sector, which has grown significantly over the past several years as more states legalized the drug, is expanding, experts say.
In a collective effort, more than two dozen Republican attorneys general issued a warning to insurance companies, cautioning against pushing customers to rapidly reduce emissions and promote an "activist climate agenda." The attorneys general argue that such efforts may potentially violate antitrust laws.
In a significant development, Wells Fargo has reached a settlement agreement to pay $1 billion to resolve a class action lawsuit accusing the bank of misleading investors about its progress in rectifying its practices following the notorious fake accounts scandal. If approved by the court, this settlement would rank among the largest recoveries ever obtained from a securities class action lawsuit, according to attorneys representing the plaintiffs.
The National Highway Traffic Safety Administration (NHTSA) has commenced its annual Click It or Ticket campaign, aimed at urging drivers and passengers to buckle up and emphasizing the life-saving benefits of seat belts.
Unless you purposely avoid social media or the internet completely, you’ve likely heard about a new AI model called ChatGPT, which is currently open to the public for testing.
Colorado Gov. Jared Polis signed into law Friday a bill that mandates a statewide wildfire-resistant building code, a step that scientists say will help protect residents and first responders as climate change intensifies blazes.
