Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
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Louisiana Governor Signs Insurance Crisis Bills into Law
The Louisiana governor signed four bills into law on Tuesday, which would tackle the state’s insurance crisis.
NAMIC Applauds Pause to Fannie Mae, Freddie Mac Guidance Changes
The National Association of Mutual Insurance Companies welcomed the announcement today that government-sponsored enterprises Fannie Mae and Freddie Mac are delaying implementation of changes to guidance that would have drastically increased costs for millions of Americans.
Munich Re Q1 Net Income Soars on Rates Despite Bridge Event
Munich Reinsurance Co. saw lower catastrophe losses, even as man-made losses rose due to the Baltimore bridge disaster, as first-quarter profit soared 68.4% on high rates and strong April 1 renewals.
Pricier Insurance Makes Sense as Climate Risk Grows, Chubb CEO Says
Surging insurance premiums in regions vulnerable to climate change make sense, and government efforts to hold back those increases won’t work in the long term, Chubb Chief Executive Evan Greenberg said.
Agents Cite Market Stress, Carrier Preferences in Channel Harvest Survey
Channel Harvest Research has completed its 17th annual national survey of independent agents and brokers, with a focus on how they’ve been managing the hard market in property-casualty insurance.
Triple-I Stresses Preparedness for ‘Very Active’ 2024 Atlantic Hurricane Season
The start of what is forecast to be a “very active” 2024 Atlantic hurricane season is just four weeks away and the Insurance Information Institute (Triple-I) is recommending homeowners, condo owners, renters and business owners prepare now.
Southwest Florida May Keep Flood Insurance Discounts As FEMA Reevaluates
Southwest Florida residents may get to keep their discount flood insurance rates after all, as discussions between local governments and FEMA revealed a series of “miscommunications.”
Travelers Insurance Raising California Home Rates by 15% on Average
One of California’s largest home insurers is raising rates for hundreds of thousands of state policyholders by an average of 15.3%, the latest move by a major insurer to boost homeowners’ premiums in the face of growing wildfire risk.
IICF’s Blazing the Trail Gala Raises $560,000 for Midwest Nonprofit Partners
The Midwest Division of the Insurance Industry Charitable Foundation (IICF) raised $560,000 at its thirteenth annual Blazing the Trail Gala in Chicago last week.