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Woman Files Federal Lawsuit Over Delaware Pumpkin-Flinging Accident
A woman who was critically injured when an air cannon exploded during a Delaware pumpkin-launching competition has filed a federal lawsuit against event organizers and participants, state officials and Discovery Communications. Suzanne Dakessian claims in Wednesday’s lawsuit that she was …

POSTED AUGUST 21, 2017 1:35 PM
Two Plead Guilty to $25M New Jersey Prescription Drug Scheme
Two men have pleaded guilty to defrauding New Jersey and health insurers out of $25 million by submitting claims for unneeded prescriptions. Matthew Tedesco and Robert Bessey pleaded guilty on Thursday to conspiracy to commit health care fraud. Authorities say …

POSTED AUGUST 21, 2017 1:31 PM
Verisk to Acquire London-Based Complex Data Software Firm Sequel
U.S.-based data analytics firm Verisk Analytics Inc. has agreed to acquire London-based insurance and software specialist Sequel from private equity firm HgCapital and other Sequel shareholders. Sequel specializes in software that “creates instant, intuitive understanding of the most complex data,” …

POSTED AUGUST 21, 2017 1:14 PM
New Jersey’s Menendez, Pallone Tout Flood Insurance Reform Legislation
Five years after Superstorm Sandy devastated towns along the New Jersey shore, Sen. Bob Menendez and Rep. Frank Pallone want changes made to federal flood insurance they said will fix a system that often failed beleaguered homeowners. Speaking Thursday on …

POSTED AUGUST 21, 2017 1:02 PM
JLT Re Taps Bardon as Bermuda Partner, Working with Industry Loss Warranty Team
JLT Re, the London-based reinsurance broker and consultancy, has appointed Nicolas Bardon as a partner in JLT Re’s Bermuda operation reporting to Guy Hengesbaugh. Bardon will work closely with Gary Reynolds and others on the industry loss warranty team in …

POSTED AUGUST 21, 2017 11:25 AM
Indian IPOs Headed for Record Year as Insurers Seek to Raise Funds
Indian initial public offerings are headed for a record year, as a rush of insurers seek to ride a rally in the local market and tap increasing investor demand for financial assets. At least four Indian insurers are aiming to …

POSTED AUGUST 21, 2017 11:16 AM
Maxum’s Lucas Joins Everest Re to Head U.S. Casualty Facultative Programs
Darwin Lucas has joined Everest Reinsurance Co. as vice president and head of U.S. Casualty Programs for all general casualty and professional liability lines of coverage within the Facultative Reinsurance division. He will be managing the division’s program portfolio and …

POSTED AUGUST 21, 2017 11:00 AM
Third Jury Sides with J&J, Bayer Over Xarelto Drug Liability Claims
A federal jury has cleared Bayer AG and Johnson & Johnson of liability in the third case to go to trial out of thousands of lawsuits claiming the drugmakers’ blood thinner Xarelto led to severe internal bleeding. The verdict in …

POSTED AUGUST 21, 2017 11:00 AM
QBE H1 Profits Rise 73% on Australia/N. Zealand Rate Hikes, N. America Growth
QBE reported a healthy profit hike during first quarter of 2017, despite heightened claims activity in its Emerging Markets’ division, which reported a combined ratio of 110.8 percent. This poor performance has led to the creation of two separate divisions …

POSTED AUGUST 21, 2017 10:42 AM
Fraud Following Catastrophes an Unwelcome Trend, Oklahoma’s Doak Says
In testimony on Capitol Hill in early August, Oklahoma Insurance Commissioner John Doak told federal lawmakers that fraud across all lines of insurance costs the industry an estimated $80 million to $100 million annually. Testifying on insurance fraud issues at …

POSTED AUGUST 21, 2017 6:49 AM

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