Johnson & Johnson and three major distributors reached nationwide settlements over their roles in the opioid addiction crisis on Friday, clearing the way for $26 billion to flow to nearly every state and local government in the United States. Taken as a whole, the settlements are the largest to date among the numerous opioid-related cases… Continue reading J&J, Distributors Finalize $26B Landmark Opioid Settlement
Author: Farkas Laura
NAMIC Tells Lawmakers Pandemic Risk Remains Uninsurable
Pandemics are inherently uninsurable events, the National Association of Mutual Insurance Companies told members of Congress on Wednesday. Andrew Pauley, NAMIC’s public policy counsel, explained at a virtual roundtable hosted by Rep. French Hill, R-Ark., the ranking member of the House Financial Services Subcommittee on Housing, Community Development and Insurance, how the potential for widespread… Continue reading NAMIC Tells Lawmakers Pandemic Risk Remains Uninsurable
SAN Group Welcomes Century Enrollment and Benefits Services Provider Serving New York, Florida
Satellite Agency Network Group, Inc. (SAN), the largest alliance of independent insurance agencies in the Northeast, announced today Century Enrollment & Benefits Services, LLC has joined the network. Founded by President Joseph Cavallaro more than 20 years ago, Century is an independent insurance and benefits agency based in Rochester, New York. The agency offers auto… Continue reading SAN Group Welcomes Century Enrollment and Benefits Services Provider Serving New York, Florida
DOJ Sues to Block UnitedHealth’s Planned Buy of Change Healthcare
The Justice Department filed an antitrust lawsuit Thursday challenging UnitedHealth Group Inc.’s $13 billion acquisition of health-technology firm Change Healthcare Inc., arguing the tie-up would unlawfully reduce competition in markets for commercial insurance and the processing of claims. The deal, announced in January 2021, sought to bring a major provider of healthcare clinical and financial… Continue reading DOJ Sues to Block UnitedHealth’s Planned Buy of Change Healthcare
Single-Family Rent Growth Tripled Year Over Year in December, CoreLogic Reports
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. Single-family rent prices experienced extensive growth during 2021, increasing an average of 7.8% compared to 2.6% in 2020. On a monthly basis, rent prices ended… Continue reading Single-Family Rent Growth Tripled Year Over Year in December, CoreLogic Reports
SPACs Are Missing Revenue and Earnings Targets
A startup battery maker that enticed investors with rapid growth projections has announced that it will fall short of its revenue target by up to 89 percent. The revenue from a scooter rental app is expected to be less than 20% of what it was projected to be this year. An electric bus company that… Continue reading SPACs Are Missing Revenue and Earnings Targets
Hacking Risk Shadows U.S. Business as Russia Threatens Critics
A swath of major American businesses — from major banks to utility companies — is preparing for possible cyberattacks against their computer networks as Russia on Thursday threatened “consequences” for nations that interfere with its invasion of Ukraine. Their concerns, echoed in C-suites and around Washington, follow recent warnings from the Biden administration that U.S.… Continue reading Hacking Risk Shadows U.S. Business as Russia Threatens Critics
Despite Catastrophe-Driven Underwriting Loss for P/C Industry, Insurers Still Able to Grow Surplus
AM Best is estimating an underwriting loss for the U.S. property/casualty (P/C) insurance industry in 2021, driven by above-average catastrophe losses, increased secondary perils and a rebound in auto frequency. However, given carriers’ solid risk-adjusted capitalization and persistent underwriting and pricing discipline, the industry was able to limit losses and generate surplus growth. In its… Continue reading Despite Catastrophe-Driven Underwriting Loss for P/C Industry, Insurers Still Able to Grow Surplus
Inflation Threatens to Erode Impact of $1 Trillion Infrastructure Law
Rising prices and clogged supply chains are expected to mitigate the impact of the $1 trillion infrastructure bill passed by Congress with bipartisan support last year. How many roads, bridges, railways, fiber optic lines, and other types of infrastructure the United States can build or repair under the law—a central achievement of President Biden’s that… Continue reading Inflation Threatens to Erode Impact of $1 Trillion Infrastructure Law
Alliant Honors 2022 Power Brokers
Ten Alliant insurance professionals have received one of the industry’s top accolades as Risk & Insurance Power Brokers. Alliant’s 2022 honorees represent the gold standard for customer service, creativity, and industry knowledge across a range of industries. “Alliant takes tremendous pride in our ability to combine an entrepreneurial approach to brokerage with a strong focus… Continue reading Alliant Honors 2022 Power Brokers