December 22, 2017
California’s top court has opened the door for consumers to sue Novartis AG and other makers of brand-name pharmaceutical products over injuries blamed on generic versions of the drugs manufactured by other companies. The California Supreme Court’s ruling on Thursday …
December 22, 2017
Matthew Sather has joined the U.S. Programs, Property & Casualty team of AXIS Insurance business unit as a vice president of Underwriting. Sather is based in the company’s Chicago office and reports to John Tatum, executive vice president and head …
December 22, 2017
Ratings agency A.M. Best has removed Allied World Assurance Co. Ltd. and its divisions from their status as “under review with negative implications” and affirmed Allied World’s financial strength rating of “A” (Excellent) and the long-term issuer credit ratings of …
December 22, 2017
President Donald Trump has issued a disaster declaration for a New Mexico Native American community that is recovering from the effects of severe weather and flooding. The declaration announced Thursday by the White House frees up federal money to help …
December 22, 2017
Two insurance companies filed a lawsuit against the Kodiak Electric Association in Alaska claiming it was responsible for a fire that caused damage to clients’ property. Lexington Insurance Co. and Alaska Municipal League Joint Insurance Association accuse the electric cooperative …
December 22, 2017
The California Division of Workers’ Compensation has suspended 16 more medical providers from participating in the state’s workers’ comp system, bringing the total number of providers suspended this year to 131. The suspensions were made possible by the passage last …
December 22, 2017
Congress has passed and President Donald Trump has signed the Tax Cuts and Jobs Act (HR1) into law. It is the biggest tax change in 30 years. Under the legislation, insurers, agencies and other businesses organized as C corporations will …
December 22, 2017
While overall market conditions may improve over the near term as a result of catastrophe events in the third quarter of 2017, A.M. Best continues to hold a negative outlook for the global reinsurance sector in 2018. In a new …
December 22, 2017
The Hanover Insurance Group Inc. announced that Chaucer, the company’s international specialty insurance group, has sponsored the formation of a reinsurance sidecar to provide collateralized capacity for Chaucer Syndicate 1084’s global property reinsurance portfolio in 2018. Bermuda-based Thopas Re Ltd., …
December 22, 2017
Zurich Insurance Group announced it has purchased 100 percent of the shares of Bright Box HK Ltd. and its subsidiaries – an acquisition designed to increase its capabilities in connected car technologies and telematics-enabled data analytics. Financial details of the …