Insured losses stemming from two Hawaii hurricanes won’t break the bank, in large part because both storms diminished in intensity or avoided a direct hit. Fitch Ratings concluded in a review of the situation that outstanding catastrophe bonds including the …
Loral Space & Communications Inc. won a reversal of a $283 million damages award against its former unit Space Systems/Loral, as the winning company, ViaSat Inc., sought a court order barring further patent infringement. ViaSat, a satellite network systems firm, …
Workers from a Naples, Fla. vegetable and fruit packing plant were headed back to court to face charges related to alleged workers’ compensation fraud. The case stems from the raid of a packing plant where more than 100 workers were …
Insurance fraud complaints in South Carolina have reached an all-time high with more than 1,200 pouring in last year, according to a report by Attorney General Alan Wilson. The annual report from his office’s Insurance Fraud Division noted attorneys prosecuted …
Telemedicine could potentially deliver more than $6 billion a year in health care savings to U.S. companies, but only if the technology is widely-adopted. According to analysis by global professional services company Towers Watson, achieving this level of savings would …
All smartphones sold in California would have to come with a “kill switch” to render them inoperable if lost or stolen under a bill passed by the legislature on Monday, the latest effort to stem an epidemic of phone theft …
Reauthorization of the U.S. Export-Import Bank was left off a list of items that the No. 2 Republican in the House of Representatives expects his party to take up in September, raising new questions about the bank’s future. The charter …
Holding company Tiptree Financial Inc. said it will acquire Fortegra Financial Corp., a Florida-based insurance services firm, in an all cash transaction valued at approximately $218 million. In the transaction, shareholders of Fortegra will receive $10.00 in cash for each …
PERILS AG said its revised loss estimate for windstorm Tini, also known as Darwin, which affected Ireland and the United Kingdom on February 12 and 13, is €281 million [$375 million]. The third estimate of the property insurance market loss …
Arthur J. Gallagher & Co. announced that it has acquired certain assets of Minvielle & Chastanet Insurance Brokers located in the eastern Caribbean. Terms of the transaction were not disclosed. The bulletin described Minvielle & Chastanet Insurance Brokers (MCIB) as …
