National News

Big Pharma Resuming U.S. Price Hikes in January After Pause: Reuters Report

Novartis AG and Bayer AG are among nearly 30 drugmakers that have taken steps to raise the U.S. prices of their medicines in January, ending a self-declared halt to increases made by a pharma industry under pressure from the Trump …

AIR Estimates Marriott Cyber Breach Direct Losses Could Reach $600 Million

Marriott International Inc. will be dealing with direct cyber incident losses from its massive data breach of between $200 million and $600 million, according to an AIR Worldwide estimate. Marriott disclosed on Dec.1 that it had uncovered a massive data …

Cigna Completes $54 Billion Acquisition of Express Scripts

Cigna Corp. on Thursday closed its $54-billion deal to buy Express Scripts Holding Co., creating one of the biggest providers of pharmacy benefits and insurance plans in the United States, a combination it says will help it improve healthcare coordination …

California Commissioner Pushing Insurer Fossil Fuel Divestment to The End

California Insurance Commissioner Dave Jones continues to push the fossil fuel divestment hot button right to the end of the year and his tenure as the state’s head insurance regulator. Jones this week released the most recent data on oil, …

Cambridge Mobile Telematics Receives $500 Million SoftBank Funding

Massachusetts-based Cambridge Mobile Telematics, which offers safe driving technology that is used globally by insurers and other firms, said it has attracted a $500 million investment from the SoftBank Vision Fund that it will use to grow globally. “This partnership …

Assessing Wildfires’ Impact on P/C Insurers’ 2018 Results

Fitch Ratings said it expects the November wildfires in California to have some but not great impact on property/casualty insurers’ year-end results and it anticipates limited or no rating actions due to the fires. The rating agency is maintaining stable …

Cryptocurrency Industry Says Inadequate Insurance Deters Investors

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting …

J&J Vows to Appeal After Judge Rejects Bid to Set Aside $4.7B Baby Powder Verdict

Johnson & Johnson failed to persuade a Missouri trial judge to set aside a July verdict awarding a record $4.69 billion to 22 women who blamed their ovarian cancer on asbestos in the company’s Baby Powder and other talc products. …

Boy Scouts Face Insurance, Bankruptcy Challenges Over Sex Abuse Claims

It took Robb Lawson until he was 45 to finally confront a dark memory from his days as a Boy Scout. Lawson was a teenager at the time, a member of a troop in Georgia, picked to attend a wilderness …

Synergy Professional Associates Launches Lawyers PL Programs in Arizona, Texas

Synergy Professional Associates, in partnership with Tokio Marine HCC – Professional Lines Group, has launched two new lawyers professional liability programs focusing on small law firms in Arizona and Texas. The new facilities target small law firms from one to …

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