Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Drugmaker Purdue Moves to Settle States’ Claims Over Opioids
Nov 20 2017 // Oxycontin maker Purdue Pharma LP is proposing a global settlement in an attempt to end state investigations and lawsuits over the U.S. opioid epidemic, according to people familiar with the talks. Purdue’s lawyers...
Family Claims Safety Hazard Killed 5-Year-Old at Atlanta Rotating Restaurant
Nov 20 2017 // The family of a 5-year-old boy killed when he became caught in a rotating Atlanta restaurant is suing the company, saying it failed to prevent a “longstanding safety hazard.” The lawsuit comes after Charlie...
Recent Hurricanes Highlight the Need for Digital Transformation in Insurance
Nov 20 2017 // The claims for Hurricane Irma are starting to pour in and they’ll be big, $25 billion to $35 billion, forecaster AIR Worldwide says. The scenes of flooding, displaced people, wrecked homes and disrupted communities...
A Storm of Claims Likely Following 2017 Hurricane Season
Nov 20 2017 // The aftermath of this year’s hurricanes includes massive reconstruction across the impacted areas, which in turn creates an increased possibility for construction defect claims that would affect the liability...
California Jury Sides with J&J Against Talcum Powder Cancer Claims
Nov 17 2017 // A California jury on Thursday ruled in favor of Johnson & Johnson in a lawsuit by a woman who said she developed the cancer mesothelioma after being exposed to asbestos in the company’s talc-based products...
Ohio Company Pays $75M to Settle Suits over Alleged False Hospice Claims
Nov 16 2017 // An Ohio corporation has paid the U.S. government a record $75 million to settle lawsuits stemming from alleged false claims about hospice patients. The U.S. Department of Justice says that between 2002 and 2013 Chemed...
Penn State Payouts on Sandusky Abuse Claims Now Top $100M
Nov 13 2017 // Penn State disclosed Friday it recently paid out an additional $16 million to people with claims they were sexually abused by former assistant football coach Jerry Sandusky, raising the total over several years to more...
Allianz Cuts 2017 Profit Projection After Q3 Natural Catastrophe Claims
Nov 13 2017 // Allianz has slightly downgraded its profit outlook for the full year after increased claims from natural disasters in North America, the German insurance giant’s finance chief said. Hurricanes Harvey, Irma and Maria,...
Insurers Face Potential $1 Billion in Claims for Las Vegas Mass Shooting
Nov 13 2017 // The deadliest mass shooting in modern U.S. history is adding to soaring costs for insurance companies, which are already taking a beating this year from an onslaught of hurricanes, earthquakes and wildfires. The industry...
Hannover Re Sells Entire Stock Portfolio to Pay for Catastrophe Claims
Nov 8 2017 // For Hannover Re, the world’s third-biggest reinsurer, it’s time to take profits in the stock market. The German company said on Wednesday that it sold its entire stock portfolio, worth about 953 million euros...
Insurtech-Led TPA, Advent Claims, to Administer Claims for Principia Underwriting
Nov 8 2017 // Advent Claims, the insurtech-led claims third party administrator (TPA), announced it has signed an agreement to administer all claims for Aquila Underwriting-backed MGA, Principia Underwriting. Principia, which previously...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Nov 6 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed as of October, according to Georgia Insurance Commissioner...
People
Nov 6 2017 // Dallas-based independent insurance brokerage RHSB has named Julia Miller Spracklen J.D. as chief operating officer and Courtney Woodruff as senior vice president in its Commercial Lines Division. Additionally, John Losurdo...
Lancashire Reports Q3 Loss of $136.4M on High Natural Catastrophe Claims
Nov 2 2017 // Lancashire Holdings Ltd reported a third-quarter pretax loss after what looks set to be the costliest quarter ever for insurers and reinsurers due to natural catastrophes, but said it was seeing some evidence of an...
Berkshire Likely to Report Big Q3 Claims Costs – and Reduced Insurance ‘Float’
Nov 1 2017 // The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every...
Swiss Re Names Richards as Head Casualty Reinsurance; Parton as Head P/C Business Mgmt.
Nov 1 2017 // Swiss Re has appointed Jason Richards as head Casualty Reinsurance. At the same time, Nicola Parton was named head P/C Business Management, and James Shepherd was appointed head of L&H Business Management. Richards...
Insured Losses from California Wildfires Now at $3.3 Billion
Oct 31 2017 // The largest California insurers have so far reported more than $3.3 billion in insured losses from the October wildfire siege, now considered the most destructive fires in state history. Insurance Commissioner Dave Jones...
Key Metrics of New York Workers’ Comp System Tracked in New WCRI Study
Oct 31 2017 // The Workers Compensation Research Institute (WCRI) released a new tool for policymakers and system stakeholders to track the performance of the New York workers’ compensation system. “Originally established to...
HR Departments Often Ill-Equipped to Handle Sexual Harassment Claims: Viewpoint
Oct 30 2017 // In an ideal world, anyone who experiences harassment at work would head directly to the human resource department. That’s where a sensitive, well-trained professional would conduct an “immediate and...
Munich Re Expects Q3 Loss After Hurricane Claims of $3.2B
Oct 26 2017 // Munich Re expects claims of €2.7 billion ($3.2 billion) from Hurricanes Harvey, Irma and Maria, which will lead to a third quarter loss of €1.4 billion. The group said it expects a small profit for the full year, as...
