U.S.
Judge Slashes $1B J&J Hip Implant Award Verdict in Half
A U.S. judge almost halved the award in a December jury verdict that ordered Johnson & Johnson and its DePuy Orthopaedics unit to pay more than $1 billion to plaintiffs in six lawsuits who said ...
A First for the Nation: New York’s Crime Insurance Reg Kicks in This July
New York State's Department of Financial Services (DFS) in December issued a new regulation that prohibits insurance companies from denying commercial crime insurance coverage to New York businesses ...
25 Reinsurers Join $1B NFIP Reinsurance Program
The federal government's National Flood Insurance Program has secured more than $1 billion in reinsurance from 25 global reinsurers to help it weather major storms. Participating reinsurers include ...
Reinsurers Can Expect Another Difficult Year: Willis Re
Despite a 50 percent increase in insured losses from natural catastrophes during 2016, the global reinsurance industry achieved profitable results for the third quarter and remains on track to close ...
Enstar Eyes Asbestos Liability Insurance Rights With $91.5M Dana Companies Acquisition
Enstar is beginning 2017 with news it is acquiring a non-insurance entity. The Bermuda-based insurance group disclosed that its Enstar Holdings arm is snatching up Dana Companies for $91.5 million. ...
Tesla Owner Sues Carmaker, Alleging Sudden Acceleration Caused Home Damage and Injury
Tesla Motors Inc was sued on Friday by a Model X owner who said his electric SUV suddenly accelerated while being parked, causing it to crash through the garage into the owner's living room, injuring ...
Wells Fargo Settles Racial Bias Broker Lawsuit
Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them the same career opportunities as their white colleagues. The bank will pay $35 million to ...
AIG Completes $3.4B Sale of Mortgage Guaranty Unit to Arch Capital
American International Group said it has completed the $3.4 billion sale of its mortgage-guaranty unit to Arch Capital Group, an important piece of a wide-ranging, ongoing plan to cut jobs, ...