Business Insurance
U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP’s alleged role in America’s opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while...
Posted: Aug 17, 2020
A federal appeals court Monday overturned a $21 million verdict against Costco Wholesale Corp. for trademark infringement over its marketing of diamond rings labeled as “Tiffany,” ruling that the lower court judge who had issued an initial ruling in...
Posted: Aug 17, 2020
Survivors of police officers and first responders who die from contracting COVID-19 on the job will be entitled to death benefits under legislation signed into law Friday by President Donald Trump.
Posted: Aug 17, 2020
The U.S. Occupational Safety and Health Administration has entered into a two-year alliance with the North American Meat Institute to provide additional information, guidance and access to training resources to protect workers in the meatpacking and...
Posted: Aug 17, 2020
A video game developer who had circulated a science fiction video game that featured a tardigrade, a real-life microscopic organism with the unique ability to survive space, cannot pursue his “Star Trek”-related copyright litigation.
Posted: Aug 17, 2020
Cyber insurance and security firm Coalition Inc. said Monday its comprehensive cyber insurance product is now available on an admitted basis in Florida following the state’s Office of Insurance Regulation’s approval.
Posted: Aug 17, 2020
Brown & Brown of Massachusetts Inc., a subsidiary of Brown & Brown Inc., has acquired Amity Insurance Agency, Brown & Brown Inc. said in a statement Monday.
Posted: Aug 17, 2020
An insurer who paid death benefits for a North Carolina employer to the family of a South Carolina-based driver who was killed in an automobile accident in his home state can’t recover proceeds from a wrongful death lawsuit, as that state prohibits s...
Posted: Aug 17, 2020
Alphabet Inc.’s Google LLC has a better chance than Apple Inc. at defeating Fortnite video game maker Epic Games in court over its allegations the two companies breached anti-trust laws.
Posted: Aug 17, 2020
The Alabama Captive Insurance Association on Monday said its annual conference will take place in person from Sept. 16-18 in Birmingham, with COVID-19 safety protocols in place.
Posted: Aug 17, 2020
Middle East insurers are expected to absorb a large part of the losses from the explosion in Beirut on Aug. 4, which killed at least 172 people and injured 6,000 others.
Posted: Aug 17, 2020
Japanese technology firm Konica Minolta Inc. suffered a ransomware attack at the end of July, downing its product supply and support site for nearly a week.
Posted: Aug 17, 2020
Thai Reinsurance PCL's gross written premiums fell 10% year-over-year to more than 2.3 billion Thai baht ($74 million) in the first six months.
Posted: Aug 17, 2020
South Korea-based Meritz Fire & Marine Insurance Co. Ltd.'s net profit totaled around 106 billion South Korean won ($89 million) in the second quarter of the year, up nearly 51% from the year-ago quarter.
Posted: Aug 17, 2020
The Mauritius National Crisis Committee said that Japanese bulk carrier MV Wakashio, which ran aground on July 25 with 4,000 tons of fuel, split on Aug. 15.
Posted: Aug 17, 2020
A portion of a plastics recycling factory in the Greek capital of Athens collapsed after a fire broke out on Aug. 15.
Posted: Aug 17, 2020
Lim Oon Kuin, founder of Singapore-based oil trading firm Hin Leong Trading Pte. Ltd., has been charged with abetment of forgery.
Posted: Aug 17, 2020
Spain-based insurer Mapfre SA suffered a cyber attack in the weekend of Aug. 15.
Posted: Aug 17, 2020
Shares of Duck Creek Technologies Inc. jumped 55.5% in their Nasdaq debut on Friday, after the software company that serves the property/casualty insurance market raised $405 million in its upsized initial public offering.
Posted: Aug 14, 2020
A total of $6.8 billion of new insurance linked securities were issued in the first half of 2020, compared with $5.5 billion in new issuance during the first half of 2019, Swiss Reinsurance Co. Ltd. said Friday.
Posted: Aug 14, 2020
A federal judge in Detroit on Friday rejected a bid by General Motors Co. to reinstate a racketeering lawsuit against its smaller rival Fiat Chrysler Automobiles NV.
Posted: Aug 14, 2020
Health officials in Australia’s most populous state made “unjustifiable” and “inexcusable” mistakes that allowed cruise ship passengers with COVID-19 to disembark in central Sydney, an inquiry said Friday.
Posted: Aug 14, 2020
Nationwide Mutual Insurance Co. units are entitled to the return of $275,000 paid towards a settlement in a sexual assault case at an Atlanta condominium complex because they were not informed of the incident until 21 months after it took place, a fe...
Posted: Aug 14, 2020
Amazon.com can be held liable like other traditional retailers for injuries from defective products sold via its sprawling e-commerce marketplace, a California state appeals court ruled on Thursday.
Posted: Aug 14, 2020
A former chief executive of Hertz Global Holdings Inc. will pay $2.18 million to settle U.S. Securities and Exchange Commission charges he failed to reimburse incentive-based pay to the rental car company following a financial restatement.
Posted: Aug 14, 2020