INSURANCE NEWS
Costa Rica Weighs Raising $2.7 Billion via Sale of State-Owned Insurer, Banks’ Assets
Costa Rica’s President Rodrigo Chaves said on Tuesday he plans to present a bill to sell state-owned banks Banco de Costa Rica and Banco Internacional de Costa Rica, as well as 49% of the state-owned INS insurance company to reduce …
Front Runner to Be Next UK PM Wants to Review Financial Watchdogs’ Roles: Source
Liz Truss, the front-runner to become Britain’s next prime minister, wants to examine the roles of the country’s three financial regulators as part of a review, a source close to her leadership campaign said on Thursday. Provided she wins the …
UK Water Supplier Hit by Cyber Attack, Highlighting Critical Infrastructure Vulnerabilities
A company that supplies water to more than 1.5 million people in the UK disclosed it was hit by a cyber attack in an incident security experts said highlighted potentially dangerous vulnerabilities in the country’s critical infrastructure. South Staffordshire Plc …
Walmart, CVS, Walgreens Ordered to Pay $650 Million Over Ohio Opioid Sales
Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. were ordered to pay a total of $650 million over their failure to properly monitor opioid prescriptions in Ohio, in the drug industry’s latest setback in the sprawling litigation over …
First Zantac Case Dropped Before Trial After Some Payouts
A lawsuit against makers of Zantac was dropped this week just ahead of trial, people familiar with the matter said, after a series of settlements with some of the drugmakers involved. Generic drugmakers Teva Pharmaceutical Industries Ltd., Perrigo Co., Sun …
Endo Files for Bankruptcy as U.S. Opioid Litigation Drags
Endo International Plc filed for bankruptcy on Tuesday after reaching a $6 billion deal with some of its creditors, as the U.S. drugmaker seeks to settle thousands of lawsuits over its alleged role in the country’s opioid epidemic. The pharmaceutical …
Maryland Family Sues Police Over Fatal Shooting at Maryland home
The family of a Maryland man fatally shot by a police officer filed a federal civil right lawsuit Monday against the department and individual officers. Dyonta Quarles Jr. was shot Jan. 30 when Anne Arundel County officers responded to his …
Takeaways from Our Conversation on Economic Headwinds, Cannabis Glut
Inflation and a superheated job market may be the nation’s prevailing economic concerns, but a big concern in cannabis today is a product glut in long-legal states. States like Colorado, where the price of flower is down over 40%, has …
People Moves: California Commissioner Names COIN Appointees; Alliant Adds Kaufman
California Insurance Commissioner Ricardo Lara recently announced reappointments to the California Organized Investment Network Advisory Board and the California Automobile Assigned Risk Plan Advisory Committee. They include: Ophir Bruck, senior director and ESG specialist at S&P Global Sustainable1: COIN representative …
Lawyer Loses Defamation Claim Against Citizen Who Criticized His Suit Over Mascot
Delaware’s Supreme Court on Tuesday upheld the dismissal of a defamation lawsuit filed by a Delaware attorney who was forced to resign from his law firm after defending a Pennsylvania high school’s American Indian mascot. Scott Cousins, a Pennsylvania resident …
Weston, UPC Louisiana Policyholders Given 60 Additional Days to Place Policies with Citizens
Insurance Commissioner Jim Donelon announced Tuesday that Louisiana Citizens will provide an additional 60 days after cancellation for insurance agents to place Weston Property & Casualty Insurance Company policies with Citizens while maintaining coverage for policyholders. Weston, a Florida insurer …
Shooting Injuries 3 Outside Chicago-Area Amusement Park
Three people were injured in a shooting outside a Chicago-area amusement park’s entrance that sent visitors scrambling for safety and prompted the park to close early, authorities said. Officers responded about 7:50 p.m. Sunday after 911 calls reporting shots fired …