Litigation/Liability Trends
AIG Settles Dispute With U.S. Involving Foreign Tax Shelters
American International Group Inc. settled a case involving cross-border transactions the government claimed amounted to improper tax shelters. The insurer agreed to pay a 10% penalty and disallow ...
Few COVID-19 Cases Result in Permanent Disability: NCCI
If COVID-19 behaves like other workers' compensation lung and disease claims, about two out of 100 cases may result in some degree of permanent partial disability and one out of 2,000 may result in ...
OxyContin Maker Purdue to Plead Guilty Over Opioid Practices
Purdue Pharma LP agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that effectively sidestepped paying ...
Six Insurers Drop UK Court Appeal Over COVID-19 Payout Ruling on Three Policies
Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to ...
Three Year’s Later, #MeToo Hasn’t Prevented Retaliation for Sexual Harassment Reports
Three years into the #MeToo movement, there may be more awareness around workplace sexual harassment. But a new report finds that almost three-quarters of people reporting such harassment suffer from ...
Q3 Natural Catastrophe Losses Bearable Even as COVID-19 Hits Keep Growing: Fitch
As the U.S. P/C Industry gears up for 2020 third quarter earnings disclosures, indicators point to an elevated number of natural catastrophe losses, Fitch Ratings said in a new market update. Fitch ...
FCC Pledges to Clarify Key Social Media Legal Protections
Federal Communications Commission chairman Ajit Pai said Thursday the agency will move forward to set new rules to clarify the meaning of a key legal protection for social media companies. The ...
Berkshire Hathaway Alleges Law Firm Aided $756M M&A Fraud
A unit of Warren Buffett's Berkshire Hathaway Inc. claims a top international law firm helped German piping component maker Wilhelm Schulz GmbH fraudulently conceal its disastrous finances before its ...