Claims from collisions involving battery electric and internal combustion engines rose compared with last year while claims frequencies also rose, according to a new report that also shows a growing parity in loss outcomes of collisions involving battery electric vehicles …
Major technology companies working with U.K. finance firms will face closer scrutiny, regulators said on Tuesday, as they set out long-awaited new rules to tackle potential risks posed by critical third-party suppliers. Under regulations coming into force starting Jan. 1, …
Plains All American Pipeline has agreed to pay $72.5 million to settle a lawsuit over the 2015 Refugio Beach oil spill in Santa Barbara, a filing showed on Tuesday. The spill occurred after a pipeline, which ran across California’s coastline, …
Sedgwick announced the closing of a minority investment led by Altas Partners, a North American private equity firm. Current investors, including funds managed by global investment firm Carlyle and Stone Point Capital LLC, will remain as investors and continue to …
Progressive said it will stop offering dwelling fire insurance, with nonrenewal notices going out as early as Nov. 19. The Mayfield, Ohio-based insurer late last week said the decision to discontinue writing the coverage, often dubbed “landlord insurance,” for non-primary …
Firefighters battled strong driving a fast-moving Southern California wildfire that forced the evacuations of thousands of people and destroyed at least 168 structures. Containment of the Mountain Fire in Ventura County increased to 48%. The fire has now burned 20,630 …
Chipotle Mexican Grill was sued on Monday by shareholders for concealing how many of its restaurants were skimping on portions, forcing the chain to spend more on ingredients and hurting its stock price. In a proposed class action filed in …
FTX filed a lawsuit against Binance Holdings Ltd. and its former Chief Executive Officer Changpeng Zhao, seeking to claw back almost $1.8 billion it alleges was fraudulently transferred by Sam Bankman-Fried. Binance, Zhao and other Binance executives received the funds …
The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s estimates. The projection is based on the first 72,000 insurance …
Hawaiian Electric reported a third-quarter loss after the utility removed a warning about its ability to remain in business, saying that a recent capital raise helped mitigate the concerns. The utility had raised going concern doubts after disclosing that it …