Hartford settles scouts sex abuse claims for $650 million
The Hartford Financial Services Group Inc. will pay $650 million to settle claims for historic sex abuse allegations against the Boy Scouts of America, the insurer announced late Friday.
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Drug companies to face first opioid trial following delays
Four drugmakers, including Johnson & Johnson and Teva Pharmaceutical Industries Ltd., will go to trial on Monday over claims they helped fuel an opioid crisis that has resulted in nearly 500,000 overdose deaths in the United States.
SEC issues second-largest whistleblower award
The Securities and Exchange Commission said Thursday it has issued a whistleblower award of more than $50 million to joint whistleblowers, which is the second-largest award in its history.
Starr wins case over retail chain defense costs
A Starr Insurance Cos. unit has prevailed in a case where it backed off from defending a retail chain after it was warned away by the California attorney general.
Core Specialty, Lancer announce merger
Cincinnati-based Core Specialty Insurance Holdings Inc. and Long Beach, New York-based Lancer Financial Group Inc. will merge in a stock and cash transaction, resulting in a post-merger Core Specialty with more than $1 billion in equity capital, the insurers said in a statement Friday.
Court rules for FM Global unit in dispute with Mohawk casino
A Mohawk casino that closed its doors in March 2020 after a COVID-19 case was reported at a nearby college cannot recover under its FM Global unit policy’s business interruption coverage, a New York federal district court said Thursday.
Employee failed to provide ‘scintilla of evidence’ in injury claim
A Texas hospital employee who claimed she was injured in an elevator failed to provide “a scintilla of evidence” in her premises liability personal injury claims against her non-subscribing employer, an appellate court said.
Criminal record likely to remain in fake work injury
A man who staged a workplace injury with medical costs totally nearly $30,000 will not have the opportunity to expunge his criminal record after a New Jersey court denied his request to enter the state’s pretrial intervention program.
Oilfield firm sues Halliburton, Cimarex Energy
Oilfield firm U.S. Well Services Inc. filed a patent infringement lawsuit against rival Halliburton Co. and shale oil producer Cimarex Energy Co. on Thursday, alleging they infringed its electric fracking patents.
Arch pegs Q1 cat losses at $180M to $190M
Arch Capital Group Ltd. said Friday that its first-quarter pretax catastrophe losses will be between $180 million and $190 million across its property/casualty insurance and reinsurance segments.
Company pleads guilty to violations that led to worker’s death
A New Jersey transportation company has pleaded guilty to workplace safety violations that resulted in a worker’s death, according to a statement from the U.S. Department of Justice.
US examining Russian companies for risks to supply chains
A senior official with the U.S. Department of Justice said on Thursday the government is examining dozens of Russian companies that could threaten the integrity of American firms’ supply chains.
Appeals court reverses, orders fall injury compensable
The injuries suffered by a call center employee who slipped and fell backward on an icy curb leading from the parking lot to the building where she worked in Salem, Oregon, are compensable, an appeals court in Oregon ruled Wednesday.
Annual risk conference says: Do try this at home
The Risk & Insurance Management Society Inc.’s annual conference has never been a dry event. And as RIMS regulars know, there is usually dancing at some point.
Tesla, ex-engineer settle lawsuit over Autopilot source code
Tesla Inc. has settled a lawsuit against a former employee who copied the source code of the electric vehicle maker's Autopilot technology, according to a U.S. district court filing dated April 15.
The BI Top 10: Week of April 12, 2021
Aon PLC’s offer of a wide range of concessions to secure European Union approval of its planned acquisition of rival Willis Towers Watson PLC has clearly dominated this week’s news. The EU has set July 27 as the deadline for its decision.
Damage estimates from Cyclone Seroja top $150 million
Tropical cyclone Seroja has caused an estimated $200 million Australian ($152.4 million) in damage to the Australian towns of Kalbarri and Northampton after making landfall as a Category 3 storm on April 11.
Competition concerns outside Europe hinder Aon-Willis merger
Aon PLC’s divestment proposals submitted to the European Commission to win antitrust approval for its proposed merger with Willis Towers Watson PLC reportedly fail to address competition concerns outside Europe.
Beazley to launch cyber insurance for German SMEs
U.K.-based insurer Beazley PLC is launching Beazley Breach Response and InfoSec cyber insurance policies for small and medium-sized businesses in Germany.
VIG expects premium volume to remain unchanged in 2021
Austria-based Vienna Insurance Group AG expects approximately €10.4 billion ($12.4 billion) in total volume of gross written premiums in 2021, similar to that seen in 2020.
