CVS Health Corp. reached a $48 million settlement of a lawsuit accusing the U.S. drugstore operator of fraudulently concealing a big loss of revenue in its pharmacy benefits manager business, culminating in a plunge in its stock price. The all-cash …
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GEICO is offering its ridesharing insurance product, which delivers end-to-end coverage for personal and ridesharing use, to drivers in Ohio. New and existing drivers that have been approved to drive for Uber (UberX and UberXL), Lyft, Sidecar and other services in …
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A.M. Best has downgraded the issuer credit rating (ICR) to “bb” from “bb+” and affirmed the financial strength rating (FSR) of B (Fair) of American Access Casualty Company (AACC), based in Chicago, ILl. The outlook for the FSR has been revised to negative …
The article A.M. Best Withdraws Ratings of Chicago-Based American Access Casualty appeared first on Insurance Journal.
The insurance industry has some work to do to win over Gen Y customers, those ages 21 through 38. Members of the Gen Y generation, who were born between 1977 and 1994, are less satisfied with their homeowners insurers than …
The article Gen Y Insurance Customers Are Not Happy Bundlers appeared first on Insurance Journal.
JLT Employee Benefits has agreed to acquire the corporate business of Close Brothers Asset Management Limited for an undisclosed value. JLT EB said the deal will boost its client portfolio and strengthen its market share in pension administration, investment consulting …
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General Motors Co. agreed to pay $900 million and admit to misleading the government and the public about the safety of its vehicles to end a U.S. criminal investigation into its handling of defective ignition switches linked to 124 deaths. …
The article GM to Pay $900M to Settle Criminal Probe Into Faulty Ignitions appeared first on Insurance Journal.
The Austin (Texas) Court of Appeals has upheld felony workers’ compensation fraud-related charges against Howard T. Douglas III, M.D., for using his company — Western Medical Evaluators — to deliberately overbill Texas Mutual for medical exams, the insurer announced. Douglas, …
The article Fraud Ruling Against Texas Doctor Stands appeared first on Insurance Journal.
Stampcoat Inc. doing business as El Paso Tool & Die in El Paso, Texas, has been cited by federal safety officials for amputations and other serious workplace hazards. The federal Occupational Safety and Health Administration cited the company on Sept. …
The article El Paso Stamping Plant Cited for Amputations, Other Hazards appeared first on Insurance Journal.
Reser’s Fine Foods, Topeka, Kan., was cited on Sept. 2 by federal safety officials for various workplace safety violations, including exposing workers to ammonia. Proposed penalties total $71,700. The U.S. Department of Labor’s Occupational Safety and Health Administration’s Wichita Area …
The article Kansas Food Processing Plant Fined $71.7K for Safety Violations appeared first on Insurance Journal.
The Oklahoma Department of Labor is reporting a decrease in the illness and injury rate among public sector employers in the state. The agency reported that Oklahoma has seen a 44 percent decrease over the past 15 years following a …
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