Business Insurance - _Risk Management
|Judge slashes $8B Risperdal award against J&J to $6.8M
(Reuters) — A Pennsylvania judge on Friday slashed to $6.8 million from $8 billion a punitive damages award against Johnson & Johnson to a man who said it failed to warn that boys using its antipsychotic drug Risperdal could grow breasts.
POSTED JANUARY 17, 2020 3:13 PM
|Adult entertainment site faces discrimination lawsuit
POSTED JANUARY 17, 2020 2:27 PM
|Families of Iran crash victims face politically charged litigation
Families of the 176 people killed when Iran shot down a Ukrainian airliner face a complicated legal battle where backing from the victims' governments may be crucial as they seek damages, legal experts said.
POSTED JANUARY 17, 2020 2:01 PM
|Medical device maker settles federal kickback charges
A medical equipment manufacturer has agreed to pay more than $37.5 million to settle charges that it paid kickbacks to suppliers, sleep labs and other health care providers, in violation of the False Claims Act, the Department of Justice said.
POSTED JANUARY 17, 2020 1:18 PM
|Marsh & McLennan Agency buys Atlanta broker
Marsh & McLennan Agency LLC, Marsh LLC ‘s middle market agency subsidiary, said Friday it has acquired Atlanta-based broker Ironwood Insurance Services LLC.
POSTED JANUARY 17, 2020 12:02 PM
News – Insurance Journal
|Minnesota School District Sued by Parents of Students Who Were Sexually Exploited
The parents of two students are suing the Bemidji school district, alleging it was negligent in allowing a former assistant principal to sexually exploit their children. Brandon Bjerknes, who was arrested in 2017, is serving a federal prison sentence for …
POSTED JANUARY 17, 2020 5:33 PM
|Brown & Brown Acquires Assets of Texas All Risk
Brown & Brown Inc. through its subsidiary, Hull & Company LLC, has acquired substantially all of the assets of Dallas-based Texas All Risk, a managing general agent (MGA) placing a wide range of property/ casualty insurance for businesses and individuals …
POSTED JANUARY 17, 2020 5:24 PM
|Hurricane Dorian’s Bahamas Storm Toll: $3.4 Billion in Damages, 3 Years of Rebuilding
The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands. The government will probably borrow about $500 million in coming months as it …
POSTED JANUARY 17, 2020 5:02 PM
|California Lawmaker Wants Probe of PG&E’s Chief Regulator
A state lawmaker is demanding an extensive review of the California Public Utilities Commission to determine whether regulators’ lax oversight enabled neglect at Pacific Gas & Electric that triggered catastrophic wildfires, a messy bankruptcy and exasperating blackouts. The request by …
POSTED JANUARY 17, 2020 4:40 PM
|California Sleep Apnea Company Pays $37.5M to Settle Kickback Lawsuits
ResMed, a San Diego, Calif.-based company that sells sleep apnea machines, will pay $37.5 million to settle allegations that it provided kickbacks to obtain customer referrals, federal prosecutors announced this week. The settlement covers five whistleblower lawsuits filed on behalf …
POSTED JANUARY 17, 2020 4:36 PM
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|JIF 2020 Crystal Ball
My first Triple-I Joint Industry Forum (JIF) did not disappoint. Between panel discussions and conversations with thought leaders and decision makers from across the insurance industry, I learned a lot and accumulated insights and leads that will feed this blog for some time to come. At a high level, an informal poll during one session … Continue reading JIF 2020 Crystal Ball
POSTED JANUARY 17, 2020 10:00 PM
|Joint Industry Forum 2020: A clear vision for the insurance industry
Each year Triple-I hosts a conference called the Property/Casualty Joint Industry Forum. This event, which took place on January 16 this year, assembles key figures from the business, policymaking, and media spheres to explore topics of vital interest to the property/casualty insurance industry. During his opening remarks, Triple-I CEO Sean Kevelighan laid out many of the … Continue reading Joint Industry Forum 2020: A clear vision for the insurance industry
POSTED JANUARY 17, 2020 7:22 PM
|Florida Dropped From 2020 “Judicial Hellholes” List
Each year the American Tort Reform Association (ATRA) publishes a list of “Judicial Hellholes” — places where ATRA says laws and court procedures are applied in an “unfair and unbalanced” way in civil cases, usually to the disadvantage of defendants. Since the issue of social inflation has been trending in recent months, it’s no surprise … Continue reading Florida Dropped From 2020 “Judicial Hellholes” List
POSTED JANUARY 14, 2020 3:53 PM
|Top 5 challenges for workers comp
The annual Focus on 5 survey by the National Council of Compensation Insurance (NCCI) yielded the following issues that are keeping workers comp executives up at night: Will insurers be able to react quickly enough to preserve rate adequacy if loss costs start to rise after a sustained period of decline? How does an aging … Continue reading Top 5 challenges for workers comp
POSTED JANUARY 13, 2020 8:52 PM
|From the Triple-I Daily: Our most popular content, January 4 to January 10
Here are the 5 most clicked on articles from this week’s I.I.I. Daily newsletter. Judicial hellholes, American Tort Reform Foundation Storm of tumbleweeds buries cars, terrifies drivers and astounds police, New York Times What is social inflation, and why is it hurting insurance? Insurance Business Magazine 2020 Insurance Fact Book, Insurance Information Institute 2019 … Continue reading From the Triple-I Daily: Our most popular content, January 4 to January 10
POSTED JANUARY 11, 2020 1:00 PM
|I.I.I. Joint Industry Forum: Registration Deadline Fast Approaching
I’m looking forward to attending my first Insurance Information Institute Joint Industry Forum next week. The agenda for the January 16 event at the Marriott Marquis Hotel in New York City is packed with impressive speakers from across the insurance industry, as well as influencers from media, academia, and the world of politics and policy: … Continue reading I.I.I. Joint Industry Forum: Registration Deadline Fast Approaching
POSTED JANUARY 10, 2020 1:53 PM
|2020 Insurance Fact Book Includes New Section On Emerging Risks
The Insurance Information Institute (Triple-I) 2020 Insurance Fact Book is now available. The 234-page digital publication features facts, figures, statistical tables, and charts on U.S. and global insurance markets. It also includes detailed data on direct premiums written and factors affecting U.S. auto, homeowners, and business insurance costs. Three unique insurance risks—cybersecurity, extreme weather, and … Continue reading 2020 Insurance Fact Book Includes New Section On Emerging Risks
POSTED JANUARY 08, 2020 4:25 PM
|Auto Premiums Climbing; Are They “Affordable”?
Car insurance premiums have risen steadily since 2009 at a faster pace than inflation, according to a recent paper in the Journal of Insurance Regulation. When you hear a stat like that, what’s your instinctive response? To blame “greedy insurers” who are making money hand over fist and still aren’t satisfied? It might be, if … Continue reading Auto Premiums Climbing; Are They “Affordable”?
POSTED JANUARY 08, 2020 2:36 PM
|The January 2020 issue of Triple-I’s latest studies digest
Each month we summarize the latest research relevant to the insurance industry. Highlights from the January issue include: LexisNexis on the state of AI and machine learning in the insurance industry Verisk on emerging issues Willis Towers Watson’s political risk survey And much more…..
POSTED JANUARY 03, 2020 2:45 PM
|Fish Smashes Windshield; Will Insurance Cover It?
Sometimes the blog posts just write themselves. ABC News in North Carolina reports that a driver in the state looked up and saw a bird carrying a huge fish. “It was one of those slow-motion moments in life. I saw the fish and I saw him drop it,” said Rhesa Walston of Beaufort, North Carolina. The catfish … Continue reading Fish Smashes Windshield; Will Insurance Cover It?
POSTED DECEMBER 24, 2019 3:14 PM