INSURANCE NEWS
J&J Subsidiary to Pay $9.75M to Settle Claims of Free Products to Induce Surgeon
A subsidiary of health care company Johnson & Johnson has agreed to pay nearly $10 million to settle allegations that it violated federal and state law by providing free products to a surgeon to induce him to use its products …
460K Partial Social Security Numbers Mistakenly Released in Washington
A county in Washington inadvertently released nearly half a million partial Social Security Numbers when responding to a routine public records request in December, according to county officials. The Pierce County Auditor’s Office, which mistakenly released the sensitive data, said …
Germany’s Commerzbank Sues EY for Losses Incurred in Wirecard Collapse
The German lender Commerzbank is suing accounting firm EY over the 200 million euros ($216.12 million) in losses that it incurred in the collapse of Wirecard, a bank spokesperson said on Thursday. Wirecard’s downfall two years ago shook the German …
Louisiana Governor Orders Special Session to Address Insurance Incentive Fund
Louisiana Gov. John Bel Edwards called for a special session Sunday to address appropriate funds to the Insure Louisiana Incentive Fund, a fund created by lawmakers last year to attract more insurance companies to the state. Edwards said the special …
Consumer Reports Urges Dark Chocolate Makers to Reduce Lead, Cadmium Levels
Consumer Reports on Monday urged four chocolate producers to commit by Valentine’s Day to reduce the amounts of lead and cadmium in their dark chocolate products, after testing revealed harmful levels of the heavy metals. In letters to Hershey Co., …
Entergy Louisiana Customers to Cover $1.5B for Hurricane Ida Repairs
METAIRIE, La. (AP) – About a million customers of an electric utility in Louisiana will cover more than $1.4 billion in repair costs related to Hurricane Ida. Entergy Louisiana said residential customers will see about $5.50 added to their monthly …
Arthur J. Gallagher & Co. Acquires Texas’ Remco
Arthur J. Gallagher & Co. announced that its subsidiary, Risk Placement Services, Inc. (RPS), has acquired Austin, Texas-based Remco Insurance Agencies, Inc. Terms of the transaction were not disclosed. With roots going back to 1987, Remco Insurance is a retail …
Abbott Faces Criminal Probe Over Baby Formula
Abbott Laboratories’ Michigan plant, which was at the center of the U.S. baby formula shortage last year, faces a criminal investigation by the Justice Department, the Wall Street Journal reported on Friday. Panicked parents emptied baby formula aisles at supermarkets …
U.S. Closes Ford SUV Exhaust Order Probe Without Seeking Recall
U.S. auto safety regulators on Monday closed a six-year-old investigation into 1.47 million Ford Explorer SUVs over reports of exhaust odors in vehicle compartments and exposure to carbon monoxide without seeking a recall. The National Highway Traffic Safety Administration (NHTSA) …
Few Homeowners Have Flood Insurance in Soaked California
On Sunday morning, Kyle Starks woke up to floodwaters that reached the door of his Jeep after yet another heavy rain storm drenched California. Emergency crews showed up with boats to float Starks and other residents of his rural mobile …
$930Mi to Curb Western U.S. Wildfires Crisis
The U.S. is directing $930 million toward reducing wildfire dangers in 10 western states by clearing trees and underbrush from national forests, the Biden administration announced Thursday, as officials struggle to contain destructive infernos that are being made worse by …
California County Paying $12M in Beating and Stun Gun Death
San Diego County will pay $12 million to settle a lawsuit by the family of a man who died after he was beaten, shocked with a stun gun and hogtied by sheriff’s deputies in 2015. The settlement approved by a …