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Global Natural Disasters Cost Insurers $34 Billion in H1 2022: Munich Re
Global natural disasters during the first half of 2022 cost insurers about US$34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes, and storms during the first six months, according to …
POSTED JULY 28, 2022 9:09 AM |
Reinsurer SCOR Reports H1 Loss of €239M Blamed on Ukraine War, Natural Disasters
Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …
POSTED JULY 28, 2022 8:20 AM |
Allergan Poised to Pay More Than $2 Billion in Opioid Settlement
AbbVie Inc.’s Allergan unit has reached an agreement to pay more than $2 billion to resolve thousands of lawsuits filed by state and local governments over the marketing of its Kadian opioid painkiller, according to people familiar with the matter. …
POSTED JULY 28, 2022 6:41 AM |
Reuters: EU Finds Evidence Employees’ Smartphones Compromised by Spyware
The European Union found evidence that smartphones used by some of its staff were compromised by an Israeli company’s spy software, the bloc’s top justice official said in a letter seen by Reuters. In a July 25 letter sent to …
POSTED JULY 28, 2022 6:36 AM |
G7 Countries Aim to Have Price Cap on Russia Oil Before Dec. 5, When Sanctions Kick In
The Group of Seven richest economies aim to have a price-capping mechanism on Russian oil exports in place by Dec. 5, when European Union sanctions banning seaborne imports of Russian crude come into force, a senior G7 official said on …
POSTED JULY 28, 2022 6:01 AM |
Greensill Capital Sued by 277 Former Employees Over Firm’s Collapse, Job Losses
A group of ex-Greensill Capital employees sued the defunct firm in London, accusing management of unfairly keeping them in the dark about the company’s “imminent danger of collapse.” A group of 277 employees — less than half the UK workforce …
POSTED JULY 28, 2022 5:50 AM |
Trial Begins in Alex Jones’ Sandy Hook Damages Lawsuit
Conspiracy theorist Alex Jones repeatedly “lied and attacked the parents of murdered children” when he told his Infowars audience that the Sandy Hook Elementary School shooting was a hoax, an attorney for one of the victim’s parents said Tuesday at …
POSTED JULY 28, 2022 5:41 AM |
Applied Underwriters Debuts Entertainment & Sports Division
Steve Menzies, chairman of Applied Underwriters, announced the formation of Applied Entertainment & Sports, a new division of the company that will consolidate existing business and add substantial new business in an innovative and aggressively postured entertainment and sports unit …
POSTED JULY 28, 2022 5:33 AM |
Insureds Can’t Block Repairs Then Sue Insurer, Florida Appeals Court Agrees
Insureds cannot recover damages from the insurance company if they failed to comply with the policy and allow the insurer to make the needed repairs, a Florida appeals court decided Wednesday. Florida’s 3rd District Court of Appeal upheld without comment …
POSTED JULY 28, 2022 5:01 AM |
PCF Insurance Acquires Zinc Insurance in Ohio
PCF Insurance Services acquired Zinc Insurance in Solon, Ohio. Zinc specializes in insurance and risk management services for the trucking, construction, contracting, and motorsports industries. Lehi, Utah-based PCF Insurance Services is a consultant and insurance brokerage firm offering an array …
POSTED JULY 28, 2022 5:00 AM |
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