Insurance
Forecasters Stress Uncertainty in Latest Hurricane Forecast
Forecasters from Colorado State University (CSU) stressed uncertainty in their latest outlook on Thursday for the current Atlantic hurricane season, even as they held steady the number of storms expected. This year’s hurricane season, which began on June 1, is …
Read More Teva Agrees to Pay $126M to US Hospitals Over Opioids
Teva Pharmaceutical Industries Ltd has agreed to pay up to $126 million to U.S. hospitals over 18 years to settle claims that its marketing of opioid drugs raised the hospitals’ operating costs. As part of the proposed settlement, disclosed in …
Read More Valent Group Acquires Coastal Professional Insurance in Alabama
Birmingham-based Valent Group, an insurance brokerage and risk management firm, has acquired Coastal Professional Insurance Inc., an independent agency in Mobile, Alabama. Coastal, or CPI, has been in the business for three decades and offers property coverage. Principals also have …
Read More Acturis Enters U.S. Market with Acquisition of Broker Buddha
After successful entries into the German, French and Canadian insurance markets, software-as-a-service firm Acturis Group has entered the U.S. market with the acquisition of Broker Buddha. Broker Buddha, based in New York City, provides insurance brokers and carriers with a …
Read More Pennsylvania Socialite, Convicted of Millions in Insurance Fraud, Dies at 71
The judge called it a “spectacular” fall from grace after a well-known Pennsylvania socialite was convicted in 2019 of more than $13 million in insurance fraud. Four years later, the Bucks County woman, Claire Risoldi, has died at age 71, …
Read More Car App Jerry in California Gets $110M in Funding, Adds Services
Smart-car app maker Jerry received an additional $110 million in equity and debt financing to add its services designed to enable vehicle owners “manage all things car.” The Palo Alto, California-based company is adding GarageGuard to diagnose issues, remind car …
Read More Report: 244M in U.S. Felt at Least One July Day with Temps Likely Due to Climate Change
Eight-in-10 people around the globe in July were exposed to at least one day of heat made at least three times more likely by climate change, and 244 million people in the U.S. experienced at least one day in the …
Read More Texas Policy Protects Big Polluters From Citizen Complaints
PORT LAVACA — On a rugged stretch of the Gulf Coast in Texas, environmental groups called foul in 2020 when an oil company sought pollution permits to expand its export terminal beside Lavaca Bay. Led by a coalition of local …
Read More Oklahoma Governor Signs Executive Order Narrowly Defining “Female” and “Male”
OKLAHOMA CITY (AP) – Oklahoma Gov. Kevin Stitt on Tuesday directed state agencies to use narrow definitions of “female” and “male,” in the latest attack on transgender rights in a state that already has laws targeting bathroom use, health care …
Read More Lemonade Posts Q2 Loss of $67.2M, Reviews Homeowners Book
Artificial intelligence-powered insurer Lemonade recorded a net loss of $67.2 million for the second quarter compared with a net loss of $67.9 million a year ago during the same period. Catastrophes, specifically severe convective storms, weighed on the quarter’s results …
Read More