Business Insurance
The U.S. government sued Teva Pharmaceutical Industries Ltd. on Tuesday, accusing the drugmaker of causing the submission of false claims to Medicare as a result of kickbacks it paid for its multiple sclerosis drug Copaxone.
Posted: Aug 18, 2020
U.S. states are seeking a combined $26.4 billion from three major drug distributors and Johnson & Johnson to settle opioid litigation against the companies, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Posted: Aug 18, 2020
Cruise operator Carnival Corp. said on Monday it launched an investigation into a ransomware attack on one of its brand’s information technology systems.
Posted: Aug 18, 2020
Wynand du Toit's safari camp in South Africa's Pilanesberg National Park lies abandoned, its tents ripped open by baboons and its survival in the balance after his insurer rejected his COVID-19 claim.
Posted: Aug 18, 2020
Raoul Nehme, Lebanon's minister of economy and trade, said that insurance claims related to the explosion at the Port of Beirut on Aug. 4 have reached $425 million.
Posted: Aug 18, 2020
Swiss catastrophe loss data provider Perils AG expects insurance and reinsurance claims related to storm Victoria, which struck Europe in February, to reach €344 million ($408 million).
Posted: Aug 18, 2020
French insurer Axa SA is in talks to sell its Greek operations to Italian insurer Assicurazioni Generali SpA.
Posted: Aug 18, 2020
A report by U.K.-based data analytics firm GlobalData PLC predicts that China's general insurance market will see a compound annual growth rate of 4.1% between 2019 and 2023.
Posted: Aug 18, 2020
South Africa-based insurer Santam Ltd. has paid more than 500 million South African rand ($29 million) in business interruption claims related to the COVID-19 pandemic.
Posted: Aug 18, 2020
Irish budget airline Ryanair DAC has cancelled 20% of its flights scheduled for September and October after a drop in bookings in the wake of fresh increases in COVID-19 cases across Europe triggered fresh quarantine restrictions on travelers.
Posted: Aug 18, 2020
Posted: Aug 18, 2020
An employee fired for refusing to sign a new noncompete agreement can be sued for failing to comply with an earlier agreement, which was still in force, said a federal appeals court Monday in overturning a lower court ruling.
Posted: Aug 17, 2020
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