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BlogNews – Insurance Journal
J&J Begins Settling Pinnacle Hip Implant Defect Claims
Johnson & Johnson has begun settling consumers’ claims that it sold artificial hips knowing they were defective, marking the first settlements in the seven-year-old litigation. A federal judge in Texas overseeing the cases said about 3,300 of 10,000 “have settled …
POSTED DECEMBER 12, 2018 6:00 AM |
Professor Fired for Publicly Criticizing Kentucky Governor Settles Suit for $620K
The University of Kentucky has settled a lawsuit filed by a former public health dentist who said he was fired from the school for publicly criticizing Republican Gov. Matt Bevin’s plan to overhaul the state’s Medicaid program. The Lexington Herald-Leader …
POSTED DECEMBER 12, 2018 6:00 AM |
Senate Passes Farm Bill with Crop Insurance, Food Stamps, Hemp Farming
The Senate passed a five-year farm bill renewing agricultural subsidies and food aid for low-income families after weeks of negotiations over work requirements for food stamp recipients and a last-minute snag over forestry provisions. The $867 billion measure, which also …
POSTED DECEMBER 12, 2018 6:00 AM |
AIG Arranges First CLO Deal Since Financial Crisis
American International Group Inc. has returned to the red-hot collateralized loan obligation market as an asset manager with its first sale since the financial crisis. The $500 million transaction is being arranged by Credit Suisse Group AG, and its most …
POSTED DECEMBER 12, 2018 6:00 AM |
The Hilb Group Acquires Huckaby & Associates of South Carolina
The Hilb Group, LLC (THG) has acquired South Carolina-based Huckaby & Associates, Inc. The transaction became effective Dec. 1, 2018. Founded in 1976, Huckaby provides a full range of property and casualty insurance products to businesses and individuals throughout South …
POSTED DECEMBER 12, 2018 5:47 AM |
Report: More Than 87K Floridians Dropped by Home Insurers Last Quarter
State records show home insurers have dropped the policies of more than 87,000 Floridians in the third quarter of this year. The Palm Beach Post reports that state records also show half of the state’s top 10 property insurers served …
POSTED DECEMBER 12, 2018 5:40 AM |
I.I.I. Study Cites AOB Abuse for Increasing Insurance Costs In Florida
A new study released by the Insurance Information Institute (I.I.I.) finds that Florida’s assignment of benefits (AOB) crisis has cost consumers billions of dollars in unnecessary litigation and inflated claim costs as the abuse continues to spread statewide. “In Florida, …
POSTED DECEMBER 12, 2018 5:09 AM |
U.S. Intends to Sign Post-Brexit Insurance Pact with Britain
The U.S. Treasury and U.S. Trade Representative’s office said on Tuesday they intended to sign a new bilateral insurance agreement with Britain that will provide insurance market regulatory certainty and continuity after Britain leaves the European Union. The Treasury and …
POSTED DECEMBER 12, 2018 12:48 AM |
PG&E Sued for Ad Spending Instead of on Preventing Events Like the California Wildfire
PG&E Corp. was accused of putting its “reputation above public safety” in a lawsuit alleging that the power company spends too much on advertising and not enough on preventing devastating Northern California wildfires like the one that destroyed the town …
POSTED DECEMBER 12, 2018 12:18 AM |
Sompo International Forms Cyber Team, Expands Insurance Offering
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has expanded its cyber insurance capabilities with the introduction of a dedicated U.S. team focused on cyber offerings, an enhanced cyber and professional liability product, …
POSTED DECEMBER 11, 2018 5:52 PM |
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