Claims / Legal
Reinsurers’ Earnings Will Erode Further After 3rd Year of Major Claims: AM Best
Reinsurers' earnings are likely to see further erosion in 2019 after another year of major catastrophe losses, which is prolonging the positive momentum for reinsurance pricing, according to a new ...
Accounting Tricks Hide Real Value of Teva’s Proposed Opioid Settlement
Teva Pharmaceutical Industries Ltd's proposed $23 billion drug giveaway to settle thousands of U.S. opioid lawsuits will likely cost the company a fraction of that figure due to how it has valued ...
Reserve Charge Dents Travelers Earnings; Execs See ‘More Room’ for Rate Hikes
Challenges that fueled prior-year loss reserve development of nearly $300 million at Travelers aren't a problem that is unique to the insurer, executives noted during an third-quarter 2019 earnings ...
Typhoon Hagibis To Cost Insurers at Least $8B; $16B Possible: AIR Worldwide
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoon Hagibis, which made landfall in Japan on October 12, will be between $8 billion (JPY 865 billion) and ...
Adjuster’s Comment About ‘Homeys’ Enough to Allow Discrimination Claim to Proceed
A claims adjuster's comments about "homeys" and "you people" when talking to a South Chicago property owner were enough to merit further proceedings on a discrimination claim against State Farm Fire ...
Progressive Teaching Lessons About Commercial Auto Profit: Guy Carpenter Study
Progressive has a competitive edge over long-term players in the commercial auto insurance market and national carriers outpace regionals on workers compensation profit measures, according to a new ...
Lawmakers Push for Removal of Tech Liability Shield
A bipartisan group of lawmakers is stepping up efforts to have U.S. trade officials eliminate a legal liability shield that tech companies are pushing to keep in new agreements, including a deal to ...
J&J Will Recall 33,000 Bottles of Baby Powder After FDA Finds Asbestos Traces
Johnson & Johnson said on Friday it is recalling around 33,000 bottles of baby powder in the United States after the U.S. health regulators found trace amounts of asbestos in samples taken from a ...