Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles. The $48 million represents approximately 54% of the compensatory damages alleged …
General Motors will pay a $145.8 million penalty and forfeit credits worth hundreds of millions of dollars after a U.S. government investigation found excess emissions from approximately 5.9 million GM vehicles, government agencies said on Wednesday. The Environmental Protection Agency …
Discover Financial Services, the credit-card firm that agreed to be acquired by Capital One Financial Corp., said it reached an agreement to resolve class-action litigation for overcharging merchants. The lender, which acknowledged the lapses last year, expects that the $1.2 …
Walmart must face a lawsuit claiming it often charges higher prices at the register than it posts on store shelves, costing consumers hundreds of millions of dollars a year, a federal appeals court ruled on Wednesday. Reversing a lower court …
Weather-related catastrophes are increasing in frequency and intensity, and billion-dollar disasters are becoming the norm. The U.S. averages about 10 disasters costing more than $1 billion each year. Investing in resilience and preparedness won’t prevent these losses, but they can …
A federal judge delayed implementation of the US Federal Trade Commission’s near-total ban on noncompete agreements, the first salvo in the high-stakes legal fight over how much freedom workers should have to switch jobs within an industry. US District Judge …
State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7% and 20%—adding fuel to a burning homeowners crisis in a state that’s seen an increasing number of carriers pullback or …
For the second year in a row, the U.S. property/casualty industry booked an underwriting loss of more than $20 billion primarily due to the lackluster performance of personal auto and home insurance lines. The total U.S. P/C underwriting loss in …
Hurricane Beryl churned toward Jamaica with violent winds, heavy rains and a life-threatening storm surge that could cause more than $1 billion in damage. Beryl’s winds roared at 145 miles (230 kilometers) per hour early Wednesday, making it a Category …
The U.S. auto safety regulator on Wednesday closed a recall query covering 420,072 Volkswagen vehicles after the automaker acted to fix a potential fuel leak. The recall covered certain VW Golf, Jetta and GTI models and the Audi A3 manufactured …