Members of the Sackler family who own Purdue Pharma LP have offered roughly $4.3 billion to resolve sprawling opioid litigation, up from $3 billion initially proposed in settlement discussions underway in the OxyContin maker’s bankruptcy proceedings, four people familiar with …
Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the previous year. These preliminary results are from a new …
Some serious money has been sent the way of various insurance startups over the past week. Investors backed cutting-edge commercial lines and cyber insurance products as well as advances in texting communications, producer management and licensing compliance, and digital risk …
Ransom-seeking hackers have begun taking advantage of a recently disclosed flaw in Microsoft’s widely used mail server software, the company said early Thursday – a serious escalation that could portend widespread digital disruption. The disclosure, initially made on Twitter by …
As the country hits the one-year mark of the arrival of COVID-19, auto insurance industry trends are beginning to show a return to the pre-pandemic baseline, which will further intensify the ongoing customer acquisition war. As consumers hunkered down under …
The auto insurer Geico Corp., a unit of Warren Buffett’s Berkshire Hathaway Inc., must face a proposed class action claiming it overcharged policyholders as the coronavirus pandemic led to less driving and fewer accidents, a judge has ruled. In a …
More than 20,000 U.S. organizations have been compromised through a back door installed via recently patched flaws in Microsoft Corp.’s email software, a person familiar with the U.S. government’s response said on Friday. The hacking has already reached more places …
This year is looking to be one of changes and big possibilities for surgeons. While 2020 brought declines in surgical revenue and drops in patient intake, the COVID-19 pandemic caused a paradigm shift. Adaptations and innovations designed to cope with …
The White House on Sunday urged computer network operators to take further steps to gauge whether their systems were targeted amid a hack of Microsoft Corp.’s Outlook email program, saying a recent software patch still left serious vulnerabilities. “This is …
COVID-19 insurance policies are increasingly joining passports and sunscreen as vacation staples, creating opportunities for insurers as more countries require mandatory coverage in case visitors fall ill from the coronavirus. Airline bookings are on the rise in some regions, driving …