Industry News
A U.S. jury found Takeda Pharmaceutical liable for causing about $885 million in damages by delaying a generic version of its constipation drug Amitiza through an anticompetitive scheme. Jurors in federal court in Boston, following a five-week trial, sided with …
Via: Claims Journal
There are currently 6.3 million properties across England that are in areas at risk of flooding, a figure that's set to rise significantly in the years ahead.
Via: Claims Journal
A federal jury has awarded $49.5 million to the family of a 24-year-old global nonprofit worker killed in the 2019 crash of a Boeing 737 Max jet in Ethiopia while traveling to her first major assignment. The verdict, reached Wednesday …
Via: Claims Journal
The numbers aren’t all in, but it looks like Progressive is now the biggest private passenger auto insurer, based on an analysis from S&P Global Market Intelligence that shows Progressive muscling past State Farm. S&P GMI estimates that Progressive’s U.S. …
Via: Claims Journal
Mutual of Enumclaw named Joe Peterson vice president of claims and chief claims officer. Peterson has more than 20 years of claims leadership experience, most recently as vice president – P/C claims at Zenith Insurance Company. He also held multiple …
Via: Claims Journal
U.S. regulators are pausing some cyber-related examinations of the largest banks, giving the lenders more breathing room as the firms dig into the risks exposed by Anthropic PBC’s new Mythos AI model. The Federal Reserve and Office of the Comptroller …
Via: Claims Journal
Openly, which promotes itself as a tech-forward homeowners insurance provider, has been making a name for itself by enabling agents to generate quotes in times as little as 15 seconds since being founded in 2017. The Boston, Massachusetts-based insurtech, which …
Via: Claims Journal
More than 3 million New York metropolitan-area homes are vulnerable to hurricane winds, the most of any region in the country, according to a report from Cotality, a property analytics firm. Roughly 3.27 million homes in the area face moderate …
Via: Claims Journal
Winds that drove a fast-moving brush fire across Southern California’s Simi Valley eased overnight, slowing the blaze’s spread, but dangerous conditions persist as hundreds of firefighters tackle the flames. Fire activity decreased significantly overnight due to calmer winds along with …
Via: Claims Journal
Iran has started a Bitcoin-backed insurance service for Iranian shipping companies that want to transit the Strait of Hormuz, the semi-official Fars news agency reported, citing documents obtained from the country’s Ministry of Economy and Financial Affairs. According to a …
Via: Claims Journal