JPMorgan, Barclays, Fifth Third Sued by Investors for Missing ‘Giant Red Flags’ at Tricolor
Investors holding more than $230 million of Tricolor asset‑backed securities have sued JPMorgan Chase, Barclays and Fifth Third, alleging the banks ignored audit warnings and helped market fraudulent auto‑loan debt. The complaint claims the banks financed, securitized and misrepresented Tricolor’s loan receivables despite red‑flag audits in 2022 and 2024. Tricolor’s notes now trade below 10 cents on the dollar, and plaintiffs warn losses could total hundreds of millions. JPMorgan’s CEO Jamie Dimon called the exposure “not our finest moment.”
Carriers See Higher Claims Severity Amid Medical, Social Inflation and Growth in AI‑Generated Fraud
North American insurers are confronting a surge in claim severity as medical inflation, social inflation, and AI‑generated fraud drive costs upward. The Gallagher Bassett 2026 Carrier Report shows 64% of carriers see more complex claims, with 56% pinpointing rising medical expenses...
Red Flags Adjusters Should Look for in Truck Accident Claims Investigations
Adjusters handling commercial‑truck accidents must navigate a dense web of electronic logs, driver qualification files, maintenance records, and carrier safety scores. Red flags such as ELD violations, missing qualification documents, incomplete DVIRs, and low SMS ratings often signal heightened exposure...
Marsh Awarded Injunction Against Former Employees Now With Howden US
A federal judge granted Marsh a preliminary injunction blocking seven former employees, now at Howden US, from using Marsh's confidential information, soliciting Marsh staff, and courting Marsh clients for one year. The court found Marsh likely to succeed on breach‑of‑contract...
Sedgwick: Five Industries Saw Higher US Recall Volumes in 2025
U.S. product recalls surged to 3,295 incidents in 2025, the highest in a decade across five key industries. Consumer products led with 414 recalls, while FDA‑regulated food recalls hit 517, a nine‑year peak. Automotive and medical device recalls slipped modestly,...
Court Sharpens Causation Standard in All-Risk Policies in Church Mutual Case
The U.S. 4th Circuit Court of Appeals ruled that under North Carolina law an excluded cause must be the sole cause of damage for an all‑risk policy exclusion to apply, reaffirming the 1973 Avis v. Hartford standard. The decision overturns...
Insurer Ducks Claims by Models Over Strip Clubs’ Use of Their Images Without Consent
A federal court in Massachusetts ruled that Blackboard Specialty Insurance Co. is not liable for a $1.9 million consent judgment against three strip‑club owners accused of using professional models' images without permission. The decision hinged on the fact that most photos...
Claims Handling Breakdowns From LA Wildfires One Year On
One year after the Palisades and Eaton wildfires, first‑party property claims are increasingly turning into legal disputes as insurers lag on replacement cost adjustments and customer service. Many carriers initially undervalued rebuild costs in California’s high‑price market, then froze allowances...
UK Floods Raise Specter of ‘Mortgage Prisoners’ Across Banks
UK banks are confronting mounting flood‑risk exposure as climate change pushes millions of homes into high‑risk zones. Nationwide led the way by halting loans to flood‑prone properties, prompting peers such as Barclays, NatWest, Lloyds and HSBC to map flood exposure...
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in Sewage Backup
A federal appeals court ruled that a State Farm adjuster’s statement could not create coverage for a sewage‑backup loss that the homeowners’ policy expressly excluded. The Coopers’ Mississippi home suffered a backup in 2022, and although an initial adjuster said...
Building Fortification And The Role of The Insurance Industry
The article discusses the growing focus on building fortification as a way to reduce future insurance claims in disaster‑prone U.S. regions. It cites 2025’s 23 billion‑dollar weather events and the Southern California wildfires of January 2025 as catalysts for resilient...
Report: BMW, Ram And Tesla Had Some of The Nation’s Worst Drivers
A LendingTree study released in February 2026 found drivers of BMW, Ram and Tesla vehicles rank among the nation’s worst, with BMW posting the highest incident rate at 44.9 per 1,000 drivers. Ram and Tesla follow closely with 44.7 and...
Diocese’s Sex Abuse Claims Fund to Get $180 Million Boost to Pay Survivors
The Catholic Diocese of Camden agreed to contribute an additional $180 million to its abuse‑claims trust, supplementing the $87.5 million settlement approved in 2024. The boost follows a mediation that resolved insurers' objections to the original plan, which had been stalled on...
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs
Munich Re’s primary insurer, Ergo, will eliminate roughly 1,000 positions in Germany, driven by AI automation of routine telephony and claims‑processing tasks. The reductions will be phased over five years, ending in 2030, and support the group’s goal of €600 million...
Deephouse, Lee to Lead IIHS and HLDI Boards
Brian Deephouse, chief actuary at Auto Club Enterprises, was elected chair of the Insurance Institute for Highway Safety (IIHS) board for 2026, succeeding Allstate’s Ginger Purgatorio. Dawn Lee, PEMCO Mutual’s chief product and underwriting officer, will continue as chair of...
OpenAI Deleted Word ‘Safely’ From Its Mission – Its New Structure Is A Test
OpenAI’s latest IRS filing removed the word “safely” from its mission, replacing it with a broader pledge to benefit all of humanity. The change coincided with a legal restructuring that split the organization into a nonprofit foundation and a for‑profit...
‘Structural Shift’ Occurring in California Surplus Lines
California’s surplus lines market is undergoing a structural shift accelerated by the 2025 Los Angeles wildfires. The Surplus Line Association of California reports surplus‑line policies have jumped over 500%, rising from about 50,000 in 2023 to 320,000 in 2025, while standard...