Judge Halves Jury’s $1 Billion Punitive Damages Award in J&J Hip Implant Case January 4, 2017 By Jef Feeley Johnson & Johnson won a ruling cutting almost in half a $1.04 billion jury award to patients who accused the...
AIG Completes Sale of Mortgage Unit to Arch Capital for $3.4 Billion January 4, 2017 American International Group said it has completed the $3.4 billion sale of its mortgage guaranty unit to Arch Capital Group....
National Flood Insurance Program Secures $1 Billion in Reinsurance for 2017; 25 Reinsurers Participate January 3, 2017 For just the second time in its history, the federal government’s National Flood Insurance Program (NFIP) has reinsurance to help...
PotashCorp’s Seaman Takes Helm as 2017 RIMS President January 3, 2017 The risk management society RIMS announced that Nowell R. Seaman will lead the group as president for the 2017 term,...
Correction: Brown & Brown’s Hull Acquires Insurance House Commercial MGA Business January 3, 2017 Hull & Co., a wholesale insurance subsidiary of giant Brown & Brown, has acquired the commercial managing general agency operations...
The Hartford Signs $1.5 Billion Reinsurance Deal Covering Asbestos Liability January 3, 2017 The Hartford has signed a reinsurance agreement effective Dec. 31, 2016 with National Indemnity Co. (NICO), a subsidiary of Berkshire...
Wells Fargo Settles Brokers’ Claims of Racial Bias January 3, 2017 By Kartikay Mehrotra, Zeke Faux and Noah Buhayar Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them...
U.S. Refineries’ Accident Risk on Rise Due to Labor Shortage January 3, 2017 By Jarrett Renshaw After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 – but...
Newest Big Thing in Drones Is Technology to Block Them January 3, 2017 By Jeremy Wagstaff and Swati Pandey A boom in consumer drone sales has spawned a counter-industry of start-ups aiming to stop drones flying where they shouldn’t...
How Flood Risk in U.S. Is Changing: Increasing in North, Decreasing in South December 30, 2016 The risk of flooding in the United States is changing regionally, and the reasons could be shifting rainfall patterns and...