TPA Market Heats Up as Insurance M&A Surges Past $20 Billion in 2024
Despite fewer deals, insurance M&A surpassed $20 billion in late 2024, fueled by private equity and the growing need for scale in the third-party administrator (TPA) market.
May 5
Insurance Industry
Litigation
Subrogation
Technology
Hawaii’s High Court Weighs Insurance Dispute Over Maui Wildfire Settlement
Hawaii’s Supreme Court is considering a critical insurance dispute that could determine the fate of a $4 billion settlement for victims of the devastating 2023 Maui wildfire. The case hinges on whether insurers can independently sue the defendants to recover claims they’ve paid.
February 11
Catastrophe
Litigation
Property
Subrogation
Hawaii
Allstate Seeks Repayment from Hyundai, Kia Over Vehicle Fire Claims
Allstate and subsidiaries are suing Hyundai and Kia, claiming the automakers failed to address known fire risks in certain vehicles, resulting in insurance payouts for damages related to vehicle fires.
November 14, 2024
Auto
Liability
Litigation
Subrogation
California
Oregon Supreme Court Overturns Ruling on $20 Million Subrogation Claim Due to Lack of Clear Waiver
In a pivotal decision, Oregon’s Supreme Court reversed lower courts, emphasizing the need for clear, unequivocal language in tort liability waivers within contracts.
March 19, 2024
Insurance Industry
Legislation & Regulation
Litigation
Subrogation
Oregon
AI and Economic Trends: A New Era of Opportunities in Subrogation
How is artificial intelligence changing the subrogation process? How has the economy changed carriers’ appetite to identify subrogation opportunities?
November 1, 2023
Insurance Industry
Legislation & Regulation
Subrogation
Technology
Illinois Court Rules Insurer Had Contractual Right to Subrogation
Zurich American Insurance Co. may pursue a subrogation lawsuit against a subcontractor that it says forced it to pay a nearly $3 million builder’s risk claim.
October 25, 2023
Legislation & Regulation
Litigation
Property
Subrogation
Workers' Compensation
Illinois
Owners Advised to Park Outside in 3.3M Hyundai and Kia Recall
Hyundai and Kia are initiating a recall of more than 3.3 million vehicles due to a potential fire hazard in the engine compartments. Owners are advised to park their vehicles away from structures until they can have them repaired at a dealership for free.
September 28, 2023
Auto
Subrogation
Ford and Lincoln Nearly 170K+ Vehicles for Rear-view Camera Failure
Ford and Lincoln have jointly issued a safety recall that includes nearly 170,000 vans and SUVs built between the 2018 and 2023 model years. The vehicles included in the campaign are equipped with a rear-view camera whose image can cut out while the driver is backing up.
September 6, 2023
Auto
Subrogation
Ford Recalls Nearly 42K Super Duty Trucks Over Safety Concerns
Ford Motor Company has initiated a recall affecting nearly 42,000 of its Super Duty F250 and F350 trucks due to potential safety hazards associated with the left rear axle shaft.
September 1, 2023
Auto
Subrogation
Over 1.5M Dehumidifiers are Under Recall After Fire Reports
More than 1.5 million dehumidifiers are under recall following reports of nearly two dozen fires, according to the U.S. Consumer Product Safety Commission.
August 22, 2023
Subrogation
Nissan Recalls 236K+ Cars for Loss of Steering Control
Nissan is recalling more than 236,000 small cars in the U.S. because the tie rods in front suspension can bend and break, possibly causing drivers to lose steering control.
August 22, 2023
Auto
Subrogation
New York Preserves Subrogation Rights
The insurer’s right of subrogation is equitable in nature, even if not based in contract. However, since the insurer steps into the shoes of its insured and is limited to the rights of its insured, an integral part of the investigation process is determining what rights the insured has.
August 14, 2023
Litigation
Subrogation
New York
Kia, Hyundai Recall Almost 92K Cars Due to Fire Risk
Hyundai and Kia are recalling nearly 92,000 cars in the U.S. over concerns that the electronic controller in the oil pumps can overheat and cause fires. Both automakers have asked owners to park their vehicles outside and "away from structures" until repairs can be made.
August 4, 2023
Auto
Subrogation
Insurers Take Legal Action Against Xcel Energy for Colorado Wildfire
Dozens of insurance companies are suing Minneapolis-based Xcel Energy to recoup money paid out to homes and businesses lost in Colorado’s most destructive wildfire in 2021.
July 12, 2023
Litigation
Subrogation
Colorado
Ford Expands Recall for Engine Fire Risk in Multiple Models
Ford Motor Company has recently announced an expansion and replacement of a recall for various Ford and Lincoln vehicles, citing a potential risk of engine fires. The National Highway Traffic Safety Administration (NHTSA) has reported that a total of 125,322 vehicles are affected by this recall.
June 7, 2023
Auto
Subrogation
