Commercial Lines
Drug Manufacturer Teva to Pay $523M to New York in Opioid Settlement
Teva Pharmaceutical Industries will pay up to $523 million to New York State as part of a nationwide settlement of lawsuits alleging the company helped fuel the U.S. opioid epidemic. The settlement ...
Twitter Sued for Mass Layoffs by Musk Without Enough Notice
Twitter Inc. was sued over Elon Musk's plan to eliminate about 3,700 jobs at the social media platform, which workers say the company is doing without enough notice in violation of federal and ...
Berkshire Hathaway Reports $2.7B Loss in Third Quarter
Warren Buffett's Berkshire Hathaway Inc. on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in ...
CVS, Walgreens and Walmart to Pay $13.8B to Settle U.S. Opioid Claims: Sources
CVS Health Corp, Walgreens Boots Alliance Inc. and Walmart Inc. have tentatively agreed to pay about $13.8 billion to resolve thousands of U.S. state and local government lawsuits accusing the chains ...
Can More Rigorous Accounting Lead to Fewer Workplace Injuries?
Businesses that want to make their workplaces safer might try adopting a more rigorous accounting system, according to a new study that found a link between a firm's workplace injuries and the ...
Insurer AIG Profit Slumps As Investment Income Falls
Insurer American International Group on Tuesday reported a more than 39 percent decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian pushed up ...
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 — but core earnings were up during what the company's CEO described as a strong ...
What Cyber Underwriters Miss: Small Businesses Aren’t Using MFA Correctly, Advisen Panel Says
As cyber threat actors continue to innovate and find new ways to increase their odds of success, panelists at the 2022 Advisen Cyber Risk Insights Conference urged underwriters to raise the stakes ...