Supreme Court Rejects Merck’s Bid to Reinstate $2.5B Damage Award Against Rival January 20, 2021 By Andrew Chung The U.S. Supreme Court on Tuesday rejected Merck & Co. Inc.’s bid to revive a $2.54 billion jury verdict it...
ProSight to Become Private Company After Being Acquired by Investors January 20, 2021 By Andrew G. Simpson International investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital agreed to acquire 100 percent of...
Insurance Agency M&A Deals Surged 20% in Year of Pandemic: OPTIS January 20, 2021 There were 744 announced insurance agency mergers and acquisitions in 2020, up nearly 20% from 649 reported in 2019. The...
Safety Agency Orders Ford to Recall 3 Million Vehicles Over Takata Air Bags January 20, 2021 By David Shepardson Ford Motor Co. must recall 3 million vehicles with potentially defective driver-side Takata air bags, the U.S. auto safety regulator...
Supreme Court Hears Baltimore’s Climate Change Damages Claim Against Energy Firms January 20, 2021 By Lawrence Hurley The U.S. Supreme Court on Tuesday grappled with a dispute that one justice called a “close call” over a lawsuit...
Specialty Insurer Hallmark Financial CEO Anand Resigns; AM Best Maintains ‘A-‘ Rating January 20, 2021 AM Best announced that it would not change the “A-” financial strength ratings of the members of Dallas-based specialty insurer...
Startup Loop Wins Funding for Fairer Auto Insurance Rating Model That Uses AI January 19, 2021 Loop, a managing general agency focused on building an auto insurance model that does not utilize credit scores and ZIP...
Business Startups Surged Amid Covid-19 Pandemic January 19, 2021 By Michael Sasso and Steve Matthews The surge of U.S. business formations in the back half of 2020 has been one of the pandemic’s many surprises....
Insurance Veterans Lead Confianza, Big Data Analytics Startup for Smaller Insurers January 19, 2021 Two insurance industry veterans have launched Confianza, a new data analytics company focused on smaller insurers. One co-founder – Jeffrey...
How Climate Change May Affect Hurricane Risk and Losses: AIR, Brookings, AXIS January 19, 2021 By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or...