Monthly Archives: <span>May 2019</span>

Insurers Gaining, Banks Losing Ground in Finance, Says European Central Bank Governor

The role of banks as providers of finance has started to erode in Europe and some other parts of the world, the Bank of Finland’s governor Olli Rehn said on Friday, calling for new central bank tools to safeguard financial …

U.S. Farmers Face Insurance, Aid Decisions as Persistent Rains Prevent Planting

Kansas farmer Mark Nelson has until Saturday to plant his corn or lose the insurance that protects him from a drop in prices or yield. Instead, he’s hopping on a plane to visit his father in Chicago. Nelson is now …

China Financial Regulator Sees ‘Very Limited’ Impact from Trade War with U.S.

The U.S. escalation of trade tensions won’t solve any of its problems but will create volatility in global markets and hurt the world economy, according to China’s top financial regulator. Higher U.S. tariffs will have a “very limited” impact on …

State Farm to Cut Auto Rates by 5.5% in West Virginia

State Farm Mutual Automobile Insurance Co. said it plans to cut overall personal auto rates in West Virginia by 5.5%. The expected total statewide impact for State Farm Mutual by this rate decrease in West Virginia will be approximately $17.7 …

Glatfelter Updates, Expands Workers’ Compensation Product

Glatfelter Program Managers has unveiled a new workers’ compensation program now available in most states. The new program gives clients and agents access to Glatfelter’s industry-specialized risk management team and online safety library, medical management services to help identify hazards …

Teva to Pay Oklahoma $85 Million to Avoid Trial Over Opioid Marketing

Teva Pharmaceutical Industries Ltd. agreed to pay $85 million to settle an Oklahoma lawsuit claiming that illegal marketing of its opioid painkillers contributed to a public health crisis in the state. The deal, announced Sunday, was reached just as the …

Opioid Litigation Tests Public Nuisance Claim Theory

Determining who foots the bill for America’s growing opioid epidemic may depend on how well the state of Oklahoma deploys a high-risk legal strategy this week against Johnson & Johnson and Teva Pharmaceutical Industries Ltd. At least 42 states and …

GOP Lawmaker Sidetracks Disaster Bill Including Flood Insurance Extension

A single Republican House member temporarily blocked fast-track passage Friday of a $19 billion disaster-aid plan, likely meaning lawmakers will vote when they return in early June from a week-long recess. Freshman Representative Chip Roy of Texas objected to the …

Watchdog Report: North Carolina Delayed Spending Federal Hurricane Matthew Funds

Administrative mistakes and a lack of expertise caused delays in North Carolina’s spending of federal funds for Hurricane Matthew recovery, according to a report released Monday from the General Assembly’s government watchdog agency. The non-partisan Program Evaluation Division also found …

Recovery Begins in Missouri’s Capital After Tornado Sweeps Area

A tornado tore apart buildings in Missouri’s capital city as part of an outbreak of severe weather across the state overnight that left at least three people dead and dozens injured. The National Weather Service confirmed that the large and …