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News Center

News – Insurance Journal

Court Nixes $151 Million Hip Implant Verdict Against J&J
Johnson & Johnson persuaded an appeals court to throw out a $151 million award over its Pinnacle artificial hips in a ruling that will affect thousands of lawsuits over the devices. A judge’s error in allowing hip recipients’ lawyers to …

POSTED APRIL 26, 2018 1:43 AM
Merck Loses Bid to Collect Patent Infringement Damages from Gilead
A U.S. appeals court on Wednesday affirmed a ruling that pharmaceutical company Merck & Co. dishonestly obtained patent rights and was not entitled to collect a $200 million infringement verdict it won against rival Gilead Sciences Inc. The U.S. Court …

POSTED APRIL 26, 2018 1:38 AM
Arch Re Turns Over Discontinued Operations Runoff to Catalina General
Arch Reinsurance Ltd. said that its runoff liabilities from some discontinued operations will now be handled by Catalina General Insurance Ltd. The reinsurance transaction specifically involves some discontinued U.S. specialty casualty exposures and other discontinued U.S. standard programs business. Why …

POSTED APRIL 26, 2018 1:00 AM
IRS Asked to Clarify Trump Tax Deduction for Pass-Through Businesses
The Republican tax law’s new deduction for pass-through businesses, intended to help small businesses, was “ill thought through” and will end up benefiting the wealthy, experts told the U.S. Senate Finance Committee on Tuesday at a hearing on the law’s …

POSTED APRIL 26, 2018 1:00 AM
Lloyd’s Taps L Marks, Boston Consulting to Set Up Innovation Lab
Lloyd’s of London has chosen innovation specialist L Marks and The Boston Consulting Group (BCG) to support the set-up and operation of the Lloyd’s Lab, a technology center set to launch in the second half of 2018. The Lloyd’s Lab …

POSTED APRIL 26, 2018 1:00 AM
Southwest Has Paid Millions in Safety Violation Fines, Faced Union Safety Complaints
Southwest Airlines runs its planes hard. Planes flying for Dallas-based Southwest make many short hops and more trips per day than other U.S. airliners, which add to wear and tear on airplane parts, including the engines. As the investigation into …

POSTED APRIL 25, 2018 4:51 PM
Appeals Court Reverses New Orleans-Area Flooding, MRGO Ruling
A Washington appeals court has reversed a lower court ruling that held the federal government liable for some of the flooding that followed Hurricane Katrina and other major storms — a ruling that could have resulted in damage payments for …

POSTED APRIL 25, 2018 4:45 PM
Texas Attorney Gets 10-Year Sentence for Role in $26M Work Comp Fraud
An attorney in Grand Prairie, Texas, has been sentenced to 120 months in federal prison and ordered to pay $26,572,458.93 in restitution for his role in a workers’ compensation fraud scheme. Federal prosecutors say that from July 2011 to September …

POSTED APRIL 25, 2018 4:40 PM
Prospect General Launches Flood Insurance Product in Indiana
Prospect General Insurance Agency (Prospect General) has expanded Flood Guard, an admitted residential flood insurance product, into Indiana. Flood Guard, written through Palomar Specialty Insurance Company, provides residential flood coverage and is an alternative to the National Flood Insurance Program …

POSTED APRIL 25, 2018 4:32 PM
J.M. Wilson Adds Assistant Underwriters in Indiana, Missouri
J.M. Wilson has added Shelly Tucker-Lorenz as assistant surety underwriter in its Indiana office and Michelle Smith as assistant transportation underwriter in Kansas City, Missouri. Tucker-Lorenz has 15 years of previous experience working in retail sales. With this new role, …

POSTED APRIL 25, 2018 4:27 PM

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