Industry News

Insurance Journal

Santander Pays $1.1B to Replace Allianz with Aegon, Mapfre in Spain Joint Venture

Jun 25, 2019 Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than...

Oklahoma Judge Approves Revised $85M Opioid Settlement With Teva

Jun 25, 2019 An Oklahoma judge has approved a revised $85 million settlement with Teva Pharmaceutical Industries Ltd. resolving claims by the state’s attorney...

Credit Rating of Federated Rural Electric Insurance Exchange in Kansas Upgraded

Jun 25, 2019 AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial...

Chicago Cargo Company to Pay $135K to Settle EEOC Harassment, Retaliation Suit

Jun 25, 2019 Federal officials say a Chicago-based cargo handling company will pay $135,000 to settle a sexual harassment and retaliation lawsuit. Alliance...

Claims Journal

Albuquerque Still No. 1 for Vehicle Thefts

Jun 25, 2019 Despite a 28% reduction in auto thefts over a two-year period, the Albuquerque, New Mexico area still had the nation’s highest vehicle theft rate in 2018, the National Insurance...

Carfax, Topa and UCAR Make Announcements

Jun 25, 2019 Carfax Releases Total Loss Valuation Tool Carfax has released a total loss valuation service that is available through its web portal, CarfaxForClaims.com. The new product helps adjusters...

Hotel Owner Sues Insurance Company After Vegas Mass Shooting

Jun 25, 2019 LAS VEGAS — More than 4,000 people are seeking damages from MGM Resorts International related to the Las Vegas Strip mass shooting that left 58 people dead, the...

Arizona Fire Highlights Hazards for Energy Storage

Jun 24, 2019 PHOENIX — Arizona’s largest electric company installed massive batteries near neighborhoods with a large number of solar panels, hoping to capture some of the energy...

Best's Reviews

Highmark-UPMC Reach 10-Year Accord in Pennsylvania

Jun 24, 2019 Highmark Inc. and the University of Pittsburgh Medical Center have agreed to a 10-year accord, bringing an end to years of dispute that left thousands of...

Field Testing for NAIC Group Calculation Tool Continuing

Jun 24, 2019 Testing of an analytical tool to better understand and quantify financial risks to insurance groups and improve policyholder protections has been under way...

PwC AP Insurance Leader: Regional Insurers Have Advantages in Asia’s Markets

Jun 24, 2019 Ruud Sommerhalder, Asia-Pacific insurance leader, PwC, said multinational insurers have scale, but more local organizations can address...

Regulators Approve the Doctors Co. $638 Million Acquisition of NY Insurer

Jun 24, 2019 The New York Department of Financial Services has approved the Doctor’s Co.’s $638 million acquisition of the Hospitals Insurance Co. Inc...