Bristol Myers Squibb reached a $239 million settlement of claims that former Celgene shareholders were defrauded about prospects for the psoriasis drug Otezla, and multiple sclerosis treatment now known as Zeposia. A preliminary settlement of the 7-1/2-year-old class action was …

The Caribbean parametric insurer, CCRIF SPC, announced it will make a second payout of US$21.1 million to the government of Jamaica – a policy triggered by excess rainfall from Hurricane Melissa. This payout follows the CCRIF’s first record payment of …

The global private credit market currently has no systemic risks, while Asia offers the biggest growth opportunities, a senior Bain Capital private credit executive told Reuters. Concerns about weak lending standards in credit markets have resurfaced after the recent collapses …

Ireland’s central bank fined an Irish subsidiary of cryptocurrency exchange Coinbase Global 21.5 million euros ($25 million) on Thursday for breaching anti-money laundering and counter-terrorist transaction monitoring obligations. The Irish regulator said the fine related to faults in the configuration …

The U.S. loses approximately $308.6 billion in insurance fraud, leading to each policyholder paying $900 more through annual premium increases, according to the Coalition Against Insurance Fraud. Scams affecting American policyholders and companies are among the most pervasive financial crimes …

Fresh off its subsidiary’s purchase of a builder-linked homeowners’ insurance program, the Tampa-based Baldwin Group took another hit to its bottom line in the third quarter this year. But the brokerage and advisory group expects the loss to turn into …

An Auburn, Washington woman was convicted for fraud after receiving a lifetime pension following her reported injury while working at a supply company. Lemapu Dorothy Seinafo, 56, pleaded guilty to one count of third-degree theft and was ordered to repay …

For the 2025 fiscal year, the Connecticut Insurance Department (CID) collected more than $95 million in revenue that has boosted the state’s general fund. The revenue included approximately $2.2 million from insurance industry fines and penalties, $44 million from various …

Mutual of Enumclaw Hires New Executives Mutual of Enumclaw named Daniel Guthrie as vice president of product operations and chief operating officer and Hem Chari as chief information officer. Guthrie has more than 25 years of leadership experience in the …

A federal court of appeals has revived a case over an alleged failure of insurance broker Willis of New Jersey to notify the insurer for one of its New York clients of the presence of lead paint in his residential …

AM Besthas revised the outlook to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Michigan Millers Mutual Insurance Company (Michigan Millers) based in Lansing, Michigan. Concurrently, AM …

Texas officials have asked a state court judge to temporarily block Kenvue Inc. from marketing Tylenol as safe for pregnant women, and from issuing a dividend, escalating the company’s legal woes just days after announcing a major merger with Kimberly-Clark …

A few of the victims of the Los Angeles wildfires in January are asking California Gov. Gavin Newsom to call for the resignation of California Insurance Commissioner Ricardo Lara over reforms Lara pushed that were designed to help ease the …

The left engine came off a doomed United Parcel Service Inc. freighter moments before it crashed in a fireball near the company’s global hub in Kentucky, killing at least 12 people. Louisville Mayor Craig Greenberg said in a post on …

This edition of International People Moves details appointments at the MGA Pen Underwriting and the insurer BHSI. A summary of these new hires follows here. Pen Underwriting Names Doyle as CEO of Ireland Pen Underwriting, the London-based managing general agent, …

Root Inc. reported a third quarter 2025 net income loss of $5.4 million after landing in the positive with $22.8 million in profit a year ago. Alex Timm, the Columbus, Ohio-based company’s CEO, said in a letter to shareholders that …

The American neighborhoods with the highest risk of floods are again losing residents. For the first time since 2019, high-risk counties lost domestic residents, with 30,000 more people relocating to other places in the country than moved in, according to …

JPMorgan Chase & Co. was sued in London by an analyst who alleged she was paid less than a male colleague doing the same job and faced retaliation when she raised the issue with managers. Saidya Najeeb, who joined JPMorgan …

The Texas Windstorm Insurance Association Board of Directors met Nov. 4 in Corpus Christi, where the board voted on the association’s 2026 operating budget. Net operating expenses are budgeted to increase from 5.2% of earned premium in 2025 to 5.5% …

The Iowa Insurance Division announced the arrest of a contractor for insurance fraud. Shawn Heuss, age 46, of Johnston, was arrested on Thursday, October 30, 2025, and charged with one count of Fraudulent Submission (Class D Felony), one count of …