Insurance Journal

• Louisiana Citizens Property Insurance Policy Count Down, Financial Position Up January 20, 2021
  Louisiana Citizens Property Insurance Corp., the state-sponsored insurer of last resort, now in its 14th round of depopulation, continues to shed policies, according to the Louisiana Department of Insurance. The drop in policy count has occurred even during the most …
• The Hilb Group Acquires Michigan’s Owen Moore Insurance January 20, 2021
  The Hilb Group LLC (THG) acquired Linwood, Michigan-based Owen Moore Insurance Agency (OMA) in a transaction that was effective Dec. 31, 2020. OMA is a full-service property/casualty agency, providing a broad range of personal and commercial insurance products and services …
• Supreme Court Rejects Merck’s Bid to Reinstate $2.5B Damage Award Against Rival January 20, 2021
  The U.S. Supreme Court on Tuesday rejected Merck & Co. Inc.’s bid to revive a $2.54 billion jury verdict it won against rival drugmaker Gilead Sciences Inc. for infringing a patent in a dispute over a blockbuster hepatitis C treatment. …
• California COVID-19 Benefits Fraud, Cyber Attack Could Reach $9.8B January 20, 2021
  California may have paid out nearly $10 billion in phony coronavirus unemployment claims – more than double the previous estimate – with some of that money going to organized crime in Russia, China and other countries, according to a security …