Recently, lawmakers and the insurance industry have called for transparency regarding third-party litigation funding (TPLF). Here we look at third-party litigation funding and how it has impacted verdicts and settlements and the cost of insurance.
Author: Annie George
Arthur J. Gallagher & Co. Acquires Clements Worldwide
Arthur J. Gallagher & Co. today announced the acquisition of Washington, D.C.-based Clements Worldwide. Terms of the transaction were not disclosed.
Nirvana Nabs $57M to Make AI Inroads into Commercial Trucking Insurance
Nirvana Insurance — an insurance startup taking a new approach to insurance products for commercial fleets using artificial intelligence, telematics, internet-of-things technology and 15 billion miles of trucking data to calculate risk models — is taking on something else: new funding.
Auto-Safety Regulators Investigate GM’s Self-Driving Cars Over Pedestrian Risks
General Motors’ driverless-car unit Cruise is confronting a new safety investigation by federal regulators, after reports of its autonomous vehicles exhibiting risky behavior around pedestrians.
Brown & Brown, Inc. Acquires Pacific Underwriters Corporation
A subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of Pacific Underwriters.
Travelers 3Q Profit Falls Due to Elevated Catastrophe Losses
The Travelers Companies reported a 14% decline in quarterly profit for the third quarter due to elevated catastrophe losses stemming from severe wind and hailstorms across several parts of the United States.
The Niche Insurance Policy Behind a Software Company’s Big Legal Payout
Appian, a business software company, took out what’s known as judgment preservation insurance, which protects against the downside of a lengthy appellate process.
Vehicle Thefts Continue to Increase to Near-Record Highs in 2023
The United States continues to be plagued by near-record levels of vehicle thefts, according to a new report released by the National Insurance Crime Bureau (NICB), the insurance industry’s not-for-profit association dedicated to preventing and combating insurance crime.
Howden Launches MGA, Insurtech Platform with $609.7 Million in Lloyd’s Underwriting Capacity
Broker Howden launched Howden Ventures, a global investment and risk incubator with £500 million ($609.7 million) of delegated underwriting capacity for managing general agents and insurtechs.
GE to Pay $61M to Settle 401(k) Fund Mismanagement Allegations
General Electric will pay $61 million to settle a class-action lawsuit brought by participants and beneficiaries of its 401(k) retirement plan, according to court documents filed Oct. 6.