The Supreme Court hears arguments Monday in a closely watched case that could limit liability claims against drugmakers if one of their medicines causes harm. The case pits drug giant Wyeth against a guitarist who lost part of an arm …
When Diana Levine turned 63 recently, her daughter made her birthday card, drawing on Greek mythology with an illustration of Diana the Huntress, her bow string drawn taut, an arrow ready to fly. But the arm pulling at the bowstring …
California Gov. Arnold Schwarzenegger has approved legislation affecting indemnity for construction defect claims in contracts in residential construction — a decision that could increase litigation when resolving construction defect claims and could increase the defense limits needed in wrap-up policies. …
A.M. Best Co. has upgraded the financial strength rating to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating to “aa-” from “a+” of New Zealand’s AMI Insurance Limited. Best also revised the outlook for both ratings to stable …
Bad faith remedies designed to protect insurance consumers from unfair claim settlement practices can potentially harm consumers, warns a new report published by the National Association of Mutual Insurance Companies (NAMIC). The report, “First-Party Insurance Bad Faith Liability: Law, Theory, …
Standard & Poor’s Ratings Services has revised its outlook on Sedgwick CMS Holdings Inc. to stable from positive, and has affirmed its ‘B+’ counterparty credit rating on Sedgwick. “The revised outlook reflects Sedgwick’s consistently weak interest coverage ratio and burdensome …
ACE Europe has announced an extension to its Elite IV Directors & Officers (D&O) liability insurance cover. “The ACE Elite IV Entity Endorsement responds to the increased exposures faced by Irish companies, their directors and senior managers as a result …
Sustainability risks are one of the most critical emerging risk areas of the 21st century and actuaries will need to develop mitigation and financing strategies for handling them. “Sustainability risks are going to have a substantial impact on risk management …
Man’s best friend is sinking its teeth into homeowners insurance costs. Dog bites now account for one-third of all homeowners insurance liability claims, costing $356.2 million in 2007, up 10.5 percent from the previous year, according to the Insurance Information …
A bulletin from Marsh’s London office warns that the economic downturn in the US and many parts of Europe, caused by the contraction of readily available credit in some spheres, may well increase the incidence of professional liability claims against …