claims News

PG&E Fire Insurance Costs Skyrocket After Bankruptcy, Fires

PG&E Corp. is finding it very costly to buy fire insurance after wildfires triggered by its power lines sent the company into bankruptcy and left it paying $25.5 billion for claims. It’s hoping customers will foot the bill. The San …

Jeffrey Epstein Victims Fund Opens After Months of Wrangling

Women who accused Jeffrey Epstein of sexually assaulting them as teenagers can begin filing claims and collecting compensation from his estate, valued at more than $600 million. The compensation fund has opened after months of back-and-forth between the estate and …

A.M. Best: Global Insurance Market Is Well Capitalized in the Face of COVID-19

Global insurers are well capitalized to absorb the hit from rising claims and costs related to the COVID-19 pandemic, ratings agency AM Best said on Monday, citing a stress test it conducted to gauge the immediate impact of outbreak on …

EU Insurance Watchdog Says State Has Role in Pandemic Business Cover

LONDON — National governments must help provide insurance cover for future lockdowns, the industry’s European Union regulator said on Monday, as the private sector cannot afford to provide such broad coverage on its own. Countries have introduced lockdowns to fight …

PG&E Fire Victims Fight FEMA Over Multibillion-Dollar Payout

Victims of wildfires blamed on PG&E Corp.’s power lines and government agencies that provided them disaster relief are tussling over a payout from the bankrupt utility. PG&E reached a settlement with fire victims to pay a total of $13.5 billion …

Uber Reports 3,000 Sexual Assault Claims Last Year in Its Safety Review

Uber Technologies Inc. found more than 3,000 allegations of sexual assaults involving drivers or passengers on its platform in the U.S. last year, part of an extensive and long-awaited review in response to public safety concerns. The ride-hailing company released …

PG&E Is Offering $13.5 Billion in Compensation to Wildfire Victims

Bankrupt utility giant PG&E Corp. is trying to offer $13.5 billion in compensation to the victims of wildfires sparked by its power lines as part of a restructuring plan, according to people with knowledge of the situation. The company’s shares …

U.S. Supreme Court Rejects Dispute Over 2007 California Wildfire Payouts

The U.S. Supreme Court on Monday declined to hear a bid by Sempra Energy’s San Diego Gas & Electric Co to recover $379 million from customers related to damages it was forced to pay out in litigation after the deadly …

Viewpoint: CMS’ Liability Medicare Set Aside Proposal is Bad Policy

It’s a scenario every senior citizen fears—getting seriously injured in an accident. Whether it’s a slip and fall at the grocery store or getting hit by a car crossing the street, the question of “who pays?” often isn’t far from …

Farmers, Aspen Re, Atlas Announce Appointments

Noh Replaces Myhan as Farmers CFO Farmers Insurance announced the appointment of Thomas Noh as the new chief financial officer of the policyholder-owned Farmers Insurance Exchanges, which consists of Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange. Noh …