Annie George, Author at ProgramBusiness | Where insurance industry clicks

Prudential Suffers Big Loss on Rising Rates, AIG Reports Ian Losses

Rising premiums impact on commercial real estate

Rising interest rates and volatile stock markets hurt insurer Prudential Financial Inc. while AIG was hit with Hurricane Ian claims in third quarter.

Risk Strategies Warns of Capacity Shortage at January Renewals

Risk Strategies buys North Bay

Due to an expected shortage of reinsurance capacity, Risk Strategies recommends clients get ahead of January 1 renewals.

Drugstore Chains Agree to Pay More than $10B to Settle Opioid Lawsuits

Hydrocodone acetaminophen tablets lying on a prescription form. Hydrocodone is a popular prescription semi-synthetic opioid that is used to treat moderate to severe pain. Hydrocodone is said to be one of the most common recreational prescription drugs in America.

CVS and Walgreen have agreed to pay more than $10 billion in a landmark settlement to resolve opioid-crisis lawsuits.

Leasing Operator Carlyle Seeks $700M from Insurers, Reinsurers Over Jet Seizures

Aviation insurance market

Carlyle Aviation seeks $700 million from insurers, which include AIG, Axis, and Chubb, after failing to pay out on jet seizures by Russian airlines.

Cyber Incidents Targeting SMBs Dropped Slightly

Web outages at American Family

Cybersecurity incidents aimed at small businesses increased by 61 percent between the pandemic years 2020 and 2021, but have since dropped slightly.

Geico Faces California Class Action Suit for Overcharging for Auto Insurance

Geico workforce reduction

A federal judge ruled that a lawsuit against Geico Corp for overcharging for auto insurance during the COVID-19 pandemic may move forward as a class action.