Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said in a new report. As companies “finished reporting their …
The U.S. Environmental Protection Agency has finalized the first federal regulations on toxic “forever chemicals” in drinking water, setting tight limits that essentially require public water systems to all but eliminate their presence in American tap water. The highly anticipated …
Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a relatively stable economic environment in 2023, a long run of …
A U.S. appeals court on Monday handed 3M, Corteva Inc subsidiary E.I. du Pont de Nemours and Co and other manufacturers of toxic so-called “forever chemicals” a big win in their fight against legal liability for the substances, rejecting a …
A group of 22 states and U.S. territories on Wednesday moved to block a proposed $10.3 billion settlement that would resolve claims against 3M Co over water pollution tied to “forever chemicals,” claiming the deal fails to adequately hold the …
The judge overseeing 4,000 lawsuits involving 3M Co. “forever chemicals” agreed to delay the first trial for three weeks so the company can work out a settlement over pollution claims by water providers. US District Judge Mark Gergel said 3M …
Update: 3M Granted Delay in ‘Forever Chemicals’ Trial to Negotiate Settlement 3M Co. struck a tentative settlement of at least $10 billion over water pollution claims tied to “forever chemicals,” according to people familiar with the proposed accord, the largest …
3M Co., confronting regulatory pressure and lawsuits that threaten billions of dollars in damages, will stop making so-called forever chemicals and aim to discontinue their use in products by the end of 2025. The announcement marks a historic break with …
Insurance law firm Clyde & Co put together some predictions for 2023. The bad news for claims: nuclear verdicts aren’t going anywhere. Here is that prediction as well as some others. Nuclear Verdicts Show No Sign of Slowing Down The …
The Netherlands’s government is exploring its legal options against chemical giant 3M over pollution in the Dutch part of the Scheldt River. For years, the company’s Antwerp, Belgium-based factory seeped contaminated groundwater into the Scheldt, a 350-kilometer (217-mile) river that …
