The role drug distributor McKesson Corp. had in the opioid crisis was no accident, meaning the company is not entitled to defense costs related to litigation against it. McKesson Corp. appealed a district court’s ruling that subsidiaries of AIG and …
Despite law enforcement actions, fourth quarter 2023 ransomware incidents still surpassed 2022 by nearly 70%, and the number of active ransomware groups grew by 34%. Corvus Insurance recently released its Q4 2023 Ransomware Report, featuring data collected from ransomware leak …
The cyberattack on MGM Resorts in September 2023 provides a vivid example of the effects these types of attacks can have in today’s complex and interconnected IT environments. MGM estimates the incident-related costs at upwards of $100 million, after the …
Record fourth quarter 2023 net income of $3.3 billion, a huge increase over net income of about $1.3 billion during the same period a year ago, ended what Chubb CEO Evan G. Greenberg called a “blowout year.” Last year was …
Global regulators, aviation security specialists and manufacturers failed to reach an agreement on a quick technical fix to the problem of GPS spoofing near war zones at a meeting on Thursday [Jan. 25], instead calling for better training of pilots …
Microsoft Corp. said an account that was compromised by Russia-linked hackers, resulting in a hack of some company emails including senior leaders, didn’t have multifactor authentication enabled. The hackers “tailored their password spray attacks to a limited number of accounts, …
There has been a somewhat return to normal when it comes to insurance-agency mergers and acquisitions, with traditionally active buyers preferring to remain inactive to focus on integration of agencies they’ve already acquired. According to the M&A database of investment …
Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …
Dutch health technology company Philips will not sell new devices to treat sleep apnea in the U.S. in the coming years as it works to comply with a settlement with the Food and Drug Administration (FDA) announced on Monday. The …
Grocery chain Trader Joe’s is joining Elon Musk’s SpaceX in arguing that the US labor board, which is prosecuting cases against both companies, is unconstitutional. At a Jan. 16 National Labor Relations Board hearing in Connecticut, an attorney for Trader …
