INSURANCE NEWS
Texas Pharmacy Owner Sentenced in $41M Health Insurance Fraud
A Dallas pharmacy owner who routinely billed insurance companies for headache sprays, pain creams, and scar creams never dispersed to patients was sentenced last week to 10 years in federal prison, announced U.S. Attorney for the Northern District of Texas …
Louisiana DuPont Plant Fined $480K for Releasing Cancer-Causing Chemical
RESERVE, La. (AP) — A chemical manufacturing plant west of New Orleans has agreed to pay a $480,000 federal fine and install equipment to stop the release of a cancer-causing chemical from a storage tank and pipe. The consent agreement …
Former Principal of Missouri Boarding School Charged with Sex Crimes Involving Student
A former principal at a Christian boarding school in Missouri that closed in March amid abuse allegations has been charged with sex crimes involving a former student. Craig Wesley Smith Jr. was charged by the prosecutor in Wayne County in …
Clear Group Acquires UK Broker A-One Insurance Group
The Clear Group, the London-based independent insurance broker, announced the acquisition of A-One Insurance Group (A-One), a major commercial insurance broker in the south of England. Financial details of the transaction were not disclosed. Clear said this latest deal is …
Missouri Jury Asked to Award More Than $6B in Preterm Formula Case
A lawyer for a Missouri mother on Wednesday asked a jury to make Abbott ABT.N and Reckitt’s RKT.L Mead Johnson pay a total of more than $6 billion in the latest trial over claims that the companies’ formulas for premature …
Federal Court Upholds New York’s Ban on Guns in Sensitive Places
A recent Supreme Court decision doesn’t mean New York can’t enforce laws banning firearms from “sensitive” places such as public transportation, hospitals and schools, a federal appeals court said last week, repeating findings it made a year ago. The 2nd …
Lemonade Remains in the Red With $68M Loss in Q3
Insurtech Lemonade reported a third quarter 20243 net loss of nearly $68 million and a year-to-date loss of $172.2 million. Results were in comparison to a net loss of $61.5 during the same quarter and a loss of $194.5 as …
Judge Affirms $16.7K in OSHA Penalties Against New York Roofing Contractor
An administrative law judge has ordered a Rochester, New York commercial roofing company to pay $16,782 in penalties for safety violations, after an investigation and litigation by the federal government. The company, Elmer W. Davis Inc., had contested citations for …
Trick or Treat? Lawsuit Alleges Some Hershey Candy Wrappers Contain PFAS
Just two days before Halloween, The Hershey Co. was hit with a class action lawsuit alleging that the packaging of some of its candies contains unsafe levels of chemicals known as fluorine and/or per- and polyfluoroalkyl substances (PFAS). The suit …
TPG’s Exactech Goes Bankrupt After Lawsuits Over Recalled Implant Devices
Exactech Inc., a maker of joint-replacement implants owned by TPG Capital, has filed bankruptcy after being accused in more than a thousand lawsuits of making defective hip and knee implants that hurt patients. The Florida-based company sought court protection Tuesday …
‘Pivotal’ Q3 Sees Insurtech Root Achieves Net Income Profit for the First Time
For the first time in the company’s history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net income of about $23 million compared to a net …
People Moves: Rivera Appointed CEO of Marsh McLennan LATAM/Caribbean, Brockman Named Chair; HDI Global Taps AGCS’s Strasser as Board Member for Specialty Lines
This edition of International People Moves details appointments at Marsh McLennan Latin America and HDI Global. A summary of these new hires follows here. Rivera Appointed CEO of Marsh McLennan LATAM and Caribbean, Brockman Named Chair Insurance broker Marsh McLennan …