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D&O Insurer Ordered to Pay $12M in Dole Corp. Stockholder Flap
The Delaware Supreme Court ruled Wednesday that RSUI Indemnity Co. must pay $12,321,096 to Dole Corp. toward the cost of a legal settlement with former shareholders who alleged they were cheated out of potential profits when executives manipulated the stock … Source: Claims Journal
Read MoreInsurers Rewrite Business Policies After Pandemic Legal Tussles
NEW YORK — U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources say. New policies and renewals now … Source: Claims Journal
Read MoreDemocrats Seek Closure of Youth Center Amid Abuse Claims
CONCORD, N.H. (AP) — Three Democratic lawmakers are asking Republican Gov. Chris Sununu to shut down the state’s youth detention center amid growing allegations of sexual and physical abuse. Rep. Mary Jane Wallner and Sens. Cindy Rosenwald and Becky Whitley … Source: Claims Journal
Read MoreSpaceX Starship Lands Upright, Then Explodes in Latest Test
CAPE CANAVERAL, Fla. (AP) — SpaceX’s futuristic Starship looked like it aced a touchdown Wednesday, but then exploded on the landing pad with so much force that it was hurled into the air. The failure occurred just minutes after SpaceX … Source: Claims Journal
Read MoreHaz-Mat Teams Responds to Train that Derails in SoCal Desert, Leaking Alcohol
LUDLOW, Calif. (AP) — A freight train derailed in the Southern California desert on Wednesday, sending more than 40 rail cars crashing into the sand, authorities said. Nobody was hurt and there was no fire when the BNSF Railway train … Source: Claims Journal
Read MoreMartin Shkreli Accused of Drug Monopoly Scheme by Insurer
A Blue Cross Blue Shield affiliate sued “Pharma Bro” Martin Shkreli, the pharmaceutical industry’s imprisoned enfant terrible, in a Manhattan federal court Thursday, alleging a scheme to monopolize the market for Daraprim, the “gold-standard treatment” for the parasitic infection toxoplasmosis. … Source: Claims Journal
Read MoreEndo to Rework $3.3 Billion Loan as Opioid Litigation Looms
Endo International Plc is trying to get more breathing room on its debt as it contests with ongoing opioid and patent litigation and an expected drop in earnings. The drug company said it will issue new debt to refinance its … Source: Claims Journal
Read MoreHippo to Go Public in $5B Merger With Mark Pincus, Reid Hoffman-Backed SPAC
Hippo Enterprises will go public through a $5 billion merger with a blank-check firm backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a sign of rising interest in the fast-growing “insurtech” sector. The deal, announced on Thursday, … Source: Claims Journal
Read MoreWeeks After Storms, Water Crisis Continues In Mississippi
JACKSON, Miss. (AP) — Frustrations are mounting in Mississippi’s largest city, more than two weeks since winter storms and freezing weather ravaged the city’s water system — knocking out water for drinking and making it impossible for many to even … Source: Claims Journal
Read MoreKentucky Seeking Federal Help As Floodwaters Cause Damage
FRANKFORT, Ky. (AP) — Kentucky’s governor toured parts of his state hard by heavy rains Tuesday and pledged to seek federal assistance after massive flooding inundated several areas. Gov. Andy Beshear said “parts of cities are underwater in eastern Kentucky” … Source: Claims Journal
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