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Supreme Court Rejects Merck’s Bid to Reinstate $2.5B Damage Award Against Rival
The U.S. Supreme Court on Tuesday rejected Merck & Co. Inc.’s bid to revive a $2.54 billion jury verdict it won against rival drugmaker Gilead Sciences Inc. for infringing a patent in a dispute over a blockbuster hepatitis C treatment. …
POSTED JANUARY 20, 2021 4:09 PM |
California COVID-19 Benefits Fraud, Cyber Attack Could Reach $9.8B
California may have paid out nearly $10 billion in phony coronavirus unemployment claims – more than double the previous estimate – with some of that money going to organized crime in Russia, China and other countries, according to a security …
POSTED JANUARY 20, 2021 3:58 PM |
Florida’s Property Insurance Market Is ‘Spiraling Towards Collapse’ Due to Litigation: Report
Florida’s property insurance market is “spiraling towards collapse” and requires immediate attention if there is any chance of protecting the market, consumers, and ultimately, the state’s economy, according to an analysis about to be presented to the Florida Legislature. The …
POSTED JANUARY 20, 2021 3:28 PM |
Future of Russia’s Nord Stream 2 Pipeline Looks Increasingly Uncertain
The future of Nord Stream 2 looks increasingly uncertain as the U.S. ramped up pressure on the project with new sanctions, and companies walked away from the controversial Russian gas link. The new sanctions come just days before work on …
POSTED JANUARY 20, 2021 3:14 PM |
Massachusetts Governor Charlie Baker Vetoes Sweeping Climate Change Bill
Massachusetts Governor Charlie Baker vetoed a sweeping climate change bill Thursday, just days after top Democratic lawmakers on Beacon Hill vowed to immediately refile and pass it again if the Republican refused to sign the legislation. The bill had been …
POSTED JANUARY 20, 2021 2:45 PM |
ProSight to Become Private Company After Being Acquired by Investors
International investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital agreed to acquire 100 percent of the common stock shares of specialty insurer ProSight Global for $586 million cash. The deal, announced last Friday, means the …
POSTED JANUARY 20, 2021 2:45 PM |
Maine Court Says Tourette’s Patient Can Sue for Being Denied Procedure
A woman who has Tourette’s syndrome may proceed with her lawsuit against a surgeon who declined to repair her injured shoulder because of her disability, the state Supreme Court ruled. The doctor performed surgery on Carol Cutting’s injured shoulder but …
POSTED JANUARY 20, 2021 2:41 PM |
Lawsuit Filed on Behalf of Rhode Island Man Injured in Moped Crash
Guardians of a Rhode Island moped driver who was sent into a coma with a head injury after he crashed while being followed closely by a Providence police cruiser filed a federal lawsuit on his behalf alleging brutality and excessive …
POSTED JANUARY 20, 2021 2:38 PM |
AXIS Insurance Hires Aon’s Boswell Brown, Aviva’s Whelan as Renewable Energy U/Ws
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Ltd., announced the hiring of two additional underwriters within its global Renewable Energy business. Nicholas Boswell Brown and Claire Whelan will join AXIS in April as renewable energy underwriters …
POSTED JANUARY 20, 2021 2:37 PM |
Insurance Agency M&A Deals Surged 20% in Year of Pandemic: OPTIS
There were 744 announced insurance agency mergers and acquisitions in 2020, up nearly 20% from 649 reported in 2019. The surge resulted from the pent-up supply of pending transactions from earlier in the year coupled with sellers looking to avoid …
POSTED JANUARY 20, 2021 2:03 PM |
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